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steps for : Using the following information prepare the year - end adjusting entries and complete the worksheet. e date is December 3 1 ,
steps for :
Using the following information prepare the yearend adjusting entries and complete the
worksheet.
e date is December
a A car insurance policy examination shows $ has expired.
b A physical count of the inventory for office supplies shows a remaining value of $
Record the used amount.
c The estimated amortization of office equipment is $
d The payroll of the company is done each Friday for the previous days December is
on Tuesday. There are three employees and each employee makes $ a day. An
adjusting entry must be made to record the accrued salary for the days accrued for these
employees.
e The car Mr Preston uses to drive to the business of his clients cost $ It is
estimated that the car will last years and will be sold for $ Record depreciation for
one year for the car.
f On November Mr Preston paid $ for months' rent November December,
January, February, & March in advance. It is now December Record the amount of
rent expired.
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