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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
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
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