Question
The Supplies account had a beginning balance of $1,692. Supplies purchased during the period totaled $4,146. At the end of the period before adjustment, $295
The Supplies account had a beginning balance of $1,692. Supplies purchased during the period totaled $4,146. At the end of the period before adjustment, $295 of supplies were on hand. Prepare the adjusting entry for supplies.
Zoey Bella Corp. has a payroll of $6,820 for a five-day workweek. Its employees are paid each Friday for the five-day workweek. The adjusting entry on December 31 assuming the year ends on Thursday would be:
The prepaid insurance account had a beginning balance of $8,150 and was debited for $580 of premiums paid during the year. Journalize the adjusting entry required at the end of the year assuming the amount of unexpired insurance related to future periods is $5,370.
At the end of the current year, $6,055 fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees.
Depreciation on an office building is $12,200. The adjusting entry on December 31 would be:
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