Alpine Ski Shop’s Office Supplies balance on September 1 is $1,200 and the balance in Office Supplies Expense is $0. On September 30, there is $500 of supplies on hand. Journalize and post the adjusting entry on September 30 for the supplies used. Compute the balances of the two accounts involved.
Answer to relevant QuestionsTo purchase equipment and supplies, ProPaint, Inc. borrowed $30,000 on August 1 by signing a note payable to First Nations Bank. Interest expense for ProPaint, Inc. is $200 per month. Journalize an adjusting entry to accrue ...From the following accounts of Kurlz Salon, Inc., prepare the business’s statement of retained earnings for the year ended December 31, 2013: Calculate the missing amounts for each of the following Prepaid Insurance situations. For situation A, journalize the adjusting entry. Consider each situation separately. 1. Using the following selected accounts of Juba Electrical, Inc. at September 30, 2013, prepare the entity’s closing entries: Common Shares ......... $17,000 Service Revenue ......... 49,000 Unearned Revenues ...Journalize the adjusting entries at May 31, the end of the accounting period. Omit explanations. a. Employee salaries owed for Monday through Thursday of a five-day work week equals $7,500. b. Unearned service revenue now ...
Post your question