A beginning accounting student tried to complete a work sheet for Dick Ady's Bookkeeping Service. The following
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A beginning accounting student tried to complete a work sheet for Dick Ady's Bookkeeping Service. The following adjusting entries were to have been analyzed and entered in the work sheet:
(a) Ending inventory of supplies on July 31, $130.
(b) Unexpired insurance on July 31, $420.
(c) Depreciation of office equipment, $325.
(d) Wages earned, but not paid as of July 31, $95.
REQUIRED
Review the work sheet for addition mistakes, transpositions, and other errors and make all necessary corrections.
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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