Question

Journalize the following adjusting entries that were included on the work sheet for the month ended December 31.
Dec. 31 Salaries for three days are unpaid at December 31, $ 2,700. Salaries are $ 4,500 for a five-day week.
31 Insurance was bought on September 1 for $ 3,600 for 12 months’ coverage. Four months’ coverage has expired, $ 1,200.
31 Depreciation for the month on equipment, $ 50, based on an asset costing $ 3,200 with a trade- in value of $ 200 and an estimated life of five years.
31 The balance in supplies before adjustment totaled $ 154. The amount of supplies on hand at the end of the year is $ 72.



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  • CreatedOctober 21, 2014
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