An analysis of the account balances by the company's accountant provided the following additional information: 1....
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An analysis of the account balances by the company's accountant provided the following additional information: 1. A physical count of supplies revealed $1,400 on hand on September 30. 2. A two-year life insurance policy was purchased on June 1 for $3,600. Equipment depreciated $3,300 per year. The amount of rent received in advance that remains 3. 4. unearned at September 30 is $700. Debit $ 3,200 Credit Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment 4,200 16,200 $1,000 Unearned Rent Revenue 1,200 Instructions Using the above additional information, prepare the adjusting entries that should be made by Kidman Company on September 30. An analysis of the account balances by the company's accountant provided the following additional information: 1. A physical count of supplies revealed $1,400 on hand on September 30. 2. A two-year life insurance policy was purchased on June 1 for $3,600. Equipment depreciated $3,300 per year. The amount of rent received in advance that remains 3. 4. unearned at September 30 is $700. Debit $ 3,200 Credit Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment 4,200 16,200 $1,000 Unearned Rent Revenue 1,200 Instructions Using the above additional information, prepare the adjusting entries that should be made by Kidman Company on September 30.
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Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
Posted Date:
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