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The unadjusted balance of the Gourmet Menus Company as of December 31 is found on the trial balance tab. The following Information is required to
The unadjusted balance of the Gourmet Menus Company as of December 31 is found on the trial balance tab. The following Information is required to prepare the necessary adjusting entries for the Gourmet Menus Company 1) The balance in Prepaid insurance represents a month policy that went into effect on December the unadjusted balance in Prepaid insurance , and prepare the necessary adjusting entry 2) Based on a physical countsupplies on hand total $3,600 Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry 3) The equipment is expected to have an 5year useful , and be worth about $11,000 at the end of five years Review the unadjusted balance in Accurritated depreciation, and prepare the necessary adjusting the monthly depreciation If any 4) On December 26, the client paid a $60 day fee in advance, covering December 27 to February 24 Review the unadjusted balance in Unearned Consulting Revenue , and prepare the necessary adjusting entry 5) Gourmet Menus's employee corns $100 per day for a fiveday workweek beginning on Monday and ending on FridayThe employee was paid on Friday, December 26. Review the unadjusted balance in Salarles expense , and prepare the necessary adjusting entryany 6) In the second week of December Gourmet Menus agreed to provide 30 days of consulting Services to a local fitness club for fixed fee of \$3,420 The terms of the initial agreement call for Gourmet Menus to provide services from December 12through January 10 days of serviceThe club ogrees to pay Gourmet Menus $3.420 on January 10 , when the service period is complete Review the unadjusted balance in Consulting revenue and prepare the necessary adjusting entryany
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