- What do you mean by Accounting cycle? Ex Following are the information extracted from the books of M/S Rahman Corporation 2x5-10 Discuss the reasons of giving adjusting entries. at the end of 31st December, 2020. You are required to give appropriate adjusting entries (if required give explanation) (0) Supplies were purchased by Tk. 40,000 and recorded as supplies expense. But at the end of the period it revealed that supplies on hand Tk. 15,000. (0) Unearned revenue earned during the period Tk. 30,000. Purchase order received from a customer of Tk. 1,00,000 but failed to supply goods till the end of the period. wv) Employees salaries of Tk 40,000 were unpaid at the end of the year. w) Equipment costing Tk. 2,20,000 with a residual value of Tk. 20,000 has an estimated useful life of 20 years. No depreciation was charged on this asset for the year ended. iment between the balances of cash book and pass