Calm Lake Outfitters Co., an outfitter store for fishing trips, prepared the following unadjusted trial balance at the end of its first year of operations:
To prepare the adjusting entries, the following data were assembled:
a. Supplies on hand on December 31 were $900.
b. Fees earned but unbilled on December 31 were $3,500.
c. Depreciation of equipment was estimated to be $6,200 for the year.
d. Unpaid wages accrued on December 31 were $950.
e. The balance in unearned fees represented the December 1 receipt in advance for services to be provided. Only $2,100 of the services was provided between December 1 and December 31.
Journalize the adjusting entries necessary on December 31.

  • CreatedSeptember 15, 2015
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