Normal No Spac.. Heading Heading2 Tle tle Subtle Em Emphass Paragraph Styles OBAFE Topic 2 Assessable Practical Work and Reflection 2108AFE Financial Accounting Assessable Practical Work and Reflection Topic 2-The Adjusting and Closing Process Question 1 lournalise any necessary adjusting entries for ABC Accounting in the General Journal at 30 2018. Explanations/Narrations are NOT required June 1. On the first of April paid rent in advance for 12 months, $15,000. 2. Received S4.000 Fees in Advance on z March 2018. At the 30h 25% af the work has been 3. Employee Salaries owed for Monday to Wednesday of a five-day working week; the weekdy 4. Depreciation for one month on Office Equipment costing $5,000 with a salvage value of zero 5. Interest expense accrued $1.300. completed. payroll is $12,500. and a useful life of 10 years. lournal ACCOUNTS AND EXPLANATIONS POST.REF DEBIT CREDIT DATE June 30 Question 2 Explain why acerual accounting provides more complete information than cash basis acceunting DELL F10 1 12 Nomal No Spac. Heading1 Heading2 Titie Subtitle Subtile Em.. Emph Paragraph 2108AFE Topic 2 Assessable Practical Work and Reflection Question 3 Spanners Accounting Practice reported the following account balances (all these accounts have normal balances) at 30 November 2017: Sales and Marketing expense Other assets Depreclation expense $2,100 Cash $1,100 700 Service Revenue 5.500 800 Accounts Payable 600 Accounts Receivable 3,500 Drawings -Spanners 500 900 500 Capital - Spanners Required: Journalise Spanner's closing entries, as needed for these accounts. DATE ACCOUNTS AND EXPLANATIONS | POST-REF. DEBIT CREDIT Nov 30 Question 4 Why are clasing entries necessary? DOLL 12 Normal No Spac. Headeg 1 Heading 2 Title Subttle Subtie Em.. Emp Question 2 Explain why accrual accounting provides more complete information than cash basis accounting 210BAFE Topic 2 Assessable Practical Work and Reflection Question 3 Spanners Accounting Practice reported the following account balances (all these accounts have normal balances) at 30 November 2017 Sales and Marketing expense Other assets $1,100 5,500 500 $2,100 | Cash 700 Service Revenue 800 Accounts Payable 600 Accounts Recelivable Capital Spanners Drawings -Spanners Required: Yournalise Spanner's closing entries, as needed for these accounts. DATE ACCOUNTS AND EXPLANATIONS POSTREF. DEBIT CREIT Now 30 ACCOUNTS AND EXPLANATIONS POST-REF DEBIT CREDIT Nov 30 Question 4 Why are closing entries necessary? 0