Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3: Adjusting entries (9 marks) Wombat Ltd has provided the following information at year end 30 June 2020: 1. Service revenue received in advance

image text in transcribed

Question 3: Adjusting entries (9 marks) Wombat Ltd has provided the following information at year end 30 June 2020: 1. Service revenue received in advance now earned, $3,500 2. Three years rent, totalling $36,000, was paid in advance on 1 July 2019 3. Services totalling $1,800 had been performed but not yet invoiced at the end of the year 4. Depreciation on fittings totalled $5,400 for the year 5. There was $900 of supplies on hand, they had purchased $4,400 of supplies during the year 6. Salaries owed to employees at the end of the year total $800 Required Journalise the annual adjusting entries, include narrations. Answer Date Accounts and narration Dr Cr

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions