Question
Need assistance with posting adjusting entries and an adjusted trial balance for the following information. From the June 18 transaction Bella Computers purchased $1,200.00 of
Need assistance with posting adjusting entries and an adjusted trial balance for the following information.
From the June 18 transaction Bella Computers purchased $1,200.00 of office supplies on credit. At the end of the month there are $500.00 of supplies remaining.
From the June 2 transaction Bella Computers purchased office furniture and fixtures at a cost of $20,000, estimated to have a 10 year useful life, with no residual value. Depreciation is recorded using the straight line method (cost-residual value/estimated life).
From the June 4 transaction Bella Computers purchased machinery at a cost of $100,000, estimated to have a useful life of 7 years, with a salvage value of $9,000. Depreciation is recorded using the straight line method (cost-residual value/estimated life).
Bella Computers paid a 1 year prepaid lease for the sum of $1,000 per month. They make an adjustment at the end of the month to record one months lease expiration.
From the June 10 transaction Bella Computers paid the premiums on June 10 for a two year policy that officially begins coverage on July 1 and will continue for 2 years. The prepaid premium for the entire 2 year policy is $3,600.00. They make an adjustment at the end of the month to record one months insurance coverage expiration.
On June 30 Bella Computers owed the secretary / receptionist for 5 days of fees as an independent contractor. I have the general ledger, journal and unadjusted trial balance completed. Thanks so much!
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