The Edmonton Building Company had the following adjusting entry information on December 31 its year end.

1-The company had $1,100 in the supplies general ledger account on January 1st. The company purchased $3,300 of supplies and debited the supplies expense for the purchase. The company did a year end count of the supplies and determined there was $1,290 of suppies at the end of the year.

2-The company had $4,300 of unearned revenues in the general ledger account on December 31st. The accountant checked with the managers in the field and found out that $3,200 of the unearned revenues was now earned at December 31st.

3-The company purchased equipment worth $410,000 on February 1st. The equipment had a salvage value of $50,000. The equipment had a ten year life. 1A. What is the debit for the first adjusting entry provided above.

Answer 1

1B. What is the credit for the first adjusting entry provided above.

Answer 2

1C. What is the amount that should be used for the first adjusting entry provided above.

Answer 3

2A. What is the debit for the second adjusting entry provided above.

Answer 4

2B. What is the credit for the second adjusting entry provided above.

Answer 5

2C. What is the amount that should be used for the second adjusting entry provided above.

Answer 6

3A. What is the debit for the third adjusting entry provided above.

Answer 7

3B. What is the credit for the third adjusting entry provided above.

Answer 8

3C. What is the amount that should be used for the third adjusting entry provided above.