[roryvic0523]

Hello. I was able to do the closing entries but when I tried to incorporate the adjusted entries it didn't work so I am not sure how to incorporate them or if they are right based on the adjustments needed. Please help if you can Thank you!

Debit Credit Debit Credit Debit Credit
Cash 4,000 0 4,000
Prepaid Insurance 1,600 0 1,600
Supplies 2,100 0 2,100
Salaries Payable 0 0
Equipment 20,000 0 20,000
Accumulated Depreciation, Equip 0 2,000 2,000
C. Large, Capital 0 19,000 2,000 8,700 25,700
C. Large, Withdrawals 2,000 0 2,000
Revenue 33,000 33,000
Salaries Expense 18,300 18,300
Supplies Expense
Depreciation Expense, Equip
Insurance Expense
Rent Expense 6,000 6,000
Totals 54,000 54,000 35,000 35,000 27,700 27,700


1. Expired insurance $600
2. Unused supplies $800
3. Estimated depreciation $1,000
4 Earned but unpaid salaries $700

I did the adjustments as follows:


Insurance Expense 600
Prepaid Insurance 600

Supplies Expense 800
Supplies 800

Depreciaition Expense 1000
Accumulated Depreciation 1000

Salaries Expense 700
Salaries Payable 700

[Just Looking]

Look at the entry re unused supplies. When they tell you unused supplies = 800, they are saying the ending account balance of the asset account called supplies should be $800.