You are asked to prepare the following adjusting entries for Susans Sewing at December 31, 2024: 1.

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You are asked to prepare the following adjusting entries for Susan’s Sewing at December 31, 2024:

1. Supplies of $650, originally recorded as supplies, were used during the year.

2. Prepaid insurance of $800 expired during the year.

3. Annual depreciation on equipment is $2,500.
Use the following account titles: Accumulated Depreciation—Equipment, Prepaid Insurance, Supplies, Depreciation Expense, Insurance Expense, and Supplies Expense.

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Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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