QUESTION 5 =25 marks)

QUESTION 5 425 marks) The proprietor of Just Right Computer Services, Mick Bagger, has requested financial statements for the company's second fiscal year end, August 31, 2020. All routine day-to-day transactions have been journalized and posted to the general ledger. The following information has been gathered.e REQUIRED: Prepare year-end adjusting journal entries. Omit explanations. Show calculations.e a) b) c) The proprietor estimates that the cost of supplies remaining on hand is $420. During the year, the company purchased $5,450 of supplies. The balance in the supplies account at the beginning of the fiscal year was $585. (4 marks)e The proprietor records unearned revenue when the customer pays. August 21 , 2020. Mr. Bagger received and deposited $2,475 from a customer, Mrs. McCartney, who paid in advance of the work. On August 31 , 2020, Mr. Bagger estimated that the work was 40% marks)e The business has a computer that was purchased December 1, 2019 for $2,435. Mr. Bagger thinks that the computer will be obsolete by December 1, 2023 and plans on selling it for $275 at that time. (5 marks)e