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z Kidman Company prepares monthly financial statements. Below are listed some selected accounts and their balances in th September 30 trial balance before any adjustments
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Kidman Company prepares monthly financial statements. Below are listed some selected accounts and their balances in th September 30 trial balance before any adjustments have been made for the month of September. (Note: Debit column does not equal credit column because this is a portial listing of selected account balances) An analysis of the account balances by the company's accountant provided the following additional information: 1. A physical count of supplies reported $1,400 on hand on September 30 . 2. A two-year insurance policy was purchased on June 1 for $4,800. 3. Depreciation on the equipment is $3,300 per year. 4. Unpaid salaries \& wages at September 30 total $700. Using the above additional information, prepare the monthly adjusting entries for Kidman Company on September 30. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required. select "No Entry" for the account titles and enter O for the amounts.) Step by Step Solution
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