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Make the adjustments entries for the following transactions before preparing the final accounts for LLC company: (i need this ASAP to pass like within an
- Make the adjustments entries for the following transactions before preparing the final accounts for LLC company: (i need this ASAP to pass like within an hour max, I WILL UPVOTE)
- On the 25th of November 2021, the business purchased supplies for 10000 cash. On 31st of December, 2021 the business found out that the supplies still on hand were 5000 only.
- The business has a Equipment with book value of 8000, with annual depreciation rate of 12%.
- On the1st of August the business purchased a one-year insurance policy for 1800. Prepare the adjusting entry on 31st of December 2021.
- The employees are paid salaries on the 29th of each month. Prepare the adjusting entry of 5000 of the employees salaries that are not yet paid on the 31st of December, 2021.
Adjusting entries :
Transaction # | Date | Account Title | Debit | Credit |
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