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Question 2: (4 Marks) UAE Company prepares monthly financial statements. Below are listed some selected accounts as September 30 trial balance. UAE COMPANY Trial Balance
Question 2: (4 Marks) UAE Company prepares monthly financial statements. Below are listed some selected accounts as September 30 trial balance. UAE COMPANY Trial Balance (Selected Accounts) September 30, 2018 Debit Credit Office Supplies....... $ 2,700 Prepaid Insurance 4,200 Office Equipment 16,200 Accumulated Depreciation Office Equipment. $1,000 Unearned Rent Revenue.. 1,200 (Note: Debit column does not equal credit column because this is a partial listing of selected account balances) An analysis of the account balances by the company's accountant provided the following additional information: 1. A physical count of office supplies revealed $1,100 on hand on September 30. 2. A year life insurance policy was purchased on June 1 for $4,800. 3. The amount of rent received in advance that remains unearned at September 30 is $500. Instructions Using the above additional information, prepare the adjusting entries that should be made by UAE Company on September 30
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