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Adjustments in 10 column work sheet.
Cash... 4250
Notes Receivable... 1690 Account Receivables... 1535 Supplies... 615 Prepaid Insurance... 500 Van... 23600 Accumulated Depreciation: Van... 10200 Equipment... 48000 Accumulated Depreciation: Equipment... 2000 Notes Payables... 10000 Accounts Payables... 400 Unearned Revenue... 1000 Mortgage payable... 43000 Carol Goren, Capital... 14590 Carol Goren, drawings... 2600 Revenue from Teaching... 750 Revenue from Exercise Clinic... 6200 Utilities Expense... 195 Advertising Expense... 250 Interest Expense... 760 Wages expense... 2800 Payroll Tax Expense... 170 Gas and Oil Expense... 130 Repair expense... 225 Insurance Expense... 820 Totals... 88140 88140 Complete the ten column worksheet using word excel by first calculating the adjustments from the following data and enter them in the adjustments column of the work sheet. Label the adjustments a, b, c, and so on. a. The beginning inventory of supplies was $475. A purchase of supplies was made on June 21st for 4140, and ending inventory of supplies was $270. b. The insurance policy was purchased on April 1st of this year for $600. It prepaid the insurance for one year. c. The Van was purchased on January 2nd of last year. It has a useful life of five years and a salvage value of $2000. The equipment was purchased on February 5th of this year. It is expected to last eight years and will have no salvage value. d. June 30th falls on a Thursday. Wages of $100 a day are paid on each Friday. Record the wage expense for Monday through Thursday, June 27th to 30th. e. On June 1st , Carol received a check for $1000 from a local exercise firm to give ten aerobics lessons to its new instructors. Carol taught five of the lessons in June. f. On June 30th , services had been performed in the clinic totaling $1200 for which no payment had been received. (ii) Journalize the adjusting entries. |
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This is similar to another question yesterday. See if this will help you get started. https://www.askmehelpdesk.com/accoun...ce-531015.html https://www.askmehelpdesk.com/accoun...ng-531019.html If you will attempt your journal entries, we can check them for you. Thanks. |
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