Setting Entries:

1) Exercise 1

UseMS Excel,tojornalize theinputsettingspresented.

AsofAugust31, thefollowinginformation was accumulatedtopreparethe adjustment entriesforthe Casa de Papel company:

• The balance for the supplies account as of August 31 is $ 1,865. Materials on hand as of August 31 are valued at $ 380.
• The unearned rent account balance as of August 31 is $ 11,000.
• According to the receipt, the tenants paid in advance on August 1 for four months.
• The wages accrued, but not paid (salaries payable), as of August 31 total $ 4,680.
• Fees earned, but not charged, as of August 31 total $ 19,450.
• Accumulated depreciation of office equipment is $ 1,800.

2) Exercise 2

In an MS Word document, briefly explain in own words the difference between input settings and inputs that are made to correct errors.

3) Exercise 3

In the same MS Word document, classify the following items as accrued revenues, accrued expenses, unearned revenue, or prepaid expenses.

• Rent received in advance for the rental of an office space
• Premium paid for a one year insurance policy
• Fee earned but not received
• Fee received but not earned
• Account for ads that already appeared in the newspaper last month
• Payment collected for a service that has not been completed
• Rent paid in advance
• Salary due, but payable in the next period

THANKS !! NO MISSING INFORMATION.