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Prepare the required end-of-period adjusting entries for each independent case listed below, Case 1 The Whispering Winds Company began the year with a $3,420 balance
Prepare the required end-of-period adjusting entries for each independent case listed below, Case 1 The Whispering Winds Company began the year with a $3,420 balance in the Supplies account. During the year. $ 9,690 of additional supplies were purchased. A physical count of supplies on hand at the end of the year revealed that $ 9,462 worth of supplies had been used during the year. No adjusting entry has been made until year end. Case 2 The Concord Company has a calendar year-end accounting period. On July 1, the company purchased office equipment for $ 34,200. It is estimated that the office equipment will depreciate $ 228 each month. No adjusting entry has been made until year end. Case 3 Shamrock Realty is in the business of renting several apartment buildings and prepares monthly financial statements. It has been determined that 2 tenants in $ 1,026 per month apartments and one tenant in the $ 1,140 per month apartment had not paid their December rent as of December 31. Prepare the required end-of-period adjusting entries for each independent case listed above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Case Account Titles and Explanation Debit Credit 1 2 3
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