Question: Golden Eagle Company prepares monthly financial statements for its bank

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information:


The following information also is known:
a. Purchases of supplies in December total $4,500.
b. No insurance payments are made in December.
c. $11,000 is paid to employees during December for November salaries.
d. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January. Unearned Revenue is credited.

Required:
Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable and unearned revenue on December31.
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  • CreatedJuly 15, 2014
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