Question 2 Prepare adjusting entries for the following transactions (25 marks: 5 marks each) 1 Depreciation on equipment is $1,340 for the accounting period 2 Interest owed on a loan but not paid or recorded is $275 There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on 3 hand. 4 Prepaid rent had a $1,000 annual blance prior to adjustment. By year end $700 had expired. 5 Accrued salaries at the end of the period amounted to $900 Assignment 2 +

1 Depreciation on equiprnent is $1,340 for the accounting period 2 Interest owed on a loan but not paid of recorded is $275 There was no beginning balance of supples and $550 of office supphes were purchased during the period. At the end of the period $100 of supples were on 3 hand 4 Prepaid rent had a $1,000 annual blance prior to adjustment. By year end $700 had expired 5 Accrued salaries at the end of the period amounted to 5900