The following information is for the company of D. Virk, Chartered Accountants for the YEAR ending December 31, 2015

Journalize the following entries (Debits and Credits)

Pre-adjusted balances at

start of the YEAR

1.

Office Equipment30,100.00

Accumulated Amortization at start of period: 15,000.00

Salvage Value 100.00

Useful Life 6 years

Adjust for whole year

2.

Automobile 14,200.00

Accumulated Amortization at start of period 9,546.94

Rate: 20%

Adjust for whole year

3.

Building 147,100.00

Accumulated Amortization at start of period 8,650.66

Rate: 2%

Adjust for whole year

Other Information

4.

Insurance Policy Value remaining at start of period: 12,900.00

Time remaining in the policy at start of period:40 months

Adjust for 1 month (December) only

5.

Interest was deducted directly from the bank account.

The monthly rate of interest for all debt (assume it is on total of loans and mortgages only) is: 0.8%

Total value of loans and mortgages on the 1st of the month is: 64,500.00

6.

Supplies on hand at month end were: 6,000.00

Supplies on hand on the 1st of the month were: 7,000.00

7.

Month end was exactly one quarter of the way through a pay period. No wages have been paid yet, but on the next pay day the salaries paid will be: 11,900.00

8.

The Senior Accountant informs you that she is certain that an account which you have made an allowance for, will not be collected. She tells you to write it off. It is valued at: 244.00