On January 1 2010 the start of its fiscal year
On January 1, 2010, the start of its fiscal year, the Stamper Company had these account balances.
During the year, the company was involved in the following operating events:
Jan. 14 paid the $ 2,200 due on the utilities.
Mar. 15 purchased $ 5,000 of office supplies on account.
Apr. 1 paid the amount due on the office supplies.
July 1 renewed the insurance policy by making a $ 6,400 cash payment for one year’s premium.
Dec. 31 Received December’s utility bill for $ 3,600, which is due January 15, 2011. A count of the office supplies indicates that $ 2,500 of office supplies are on hand.
Make the entries for operating events listed above and make the appropriate adjusting entries on December 31, 2010.
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