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Problem 1 Part B (14 Marks) You have reviewed the accounts of Emerald Delivery and discover the following things. 1. Depreciation on the truck has
Problem 1 Part B (14 Marks) You have reviewed the accounts of Emerald Delivery and discover the following things. 1. Depreciation on the truck has not been recorded. The truck is expected to last 5 years (60 months) 2. The insurance has not been recorded from the prepaid account for September 3 They missed a deposit for $1.500 for delivery service to be done in October 2018. 4. They did not record a bill for packing supplies used in the delivery business for $ 1,200 that are expected to last for one year . The supplies are expected to be used in equal amounts each month including the amount used in September. Prepare the adjusting entries and post them to the General Ledger using any and all T-accounts necessary . Note that there may be balances in the accounts you use from Part A but these do not need to be included in the T- accounts that you use here.
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