Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the...
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Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Accounts Receivable Equipment Accumulated Depreciation-Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Debits $ 75,000 345,700 Data needed for year-end adjustments are as follows: • Unbilled fees at July 31, $11,150. • Supplies on hand at July 31, $900. • Rent expired, $6,000. • Depreciation of equipment during year, $8,950. • Unearned fees at July 31, $2,000. • Wages accrued but not paid at July 31, $4,840. 9,000 3,350 325,000 Credits $112,500 12,000 660,000 Instructions 1. Journalize the six adjusting entries required at July 31, based on the data presented. Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Accounts Receivable Equipment Accumulated Depreciation-Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Debits $ 75,000 345,700 Data needed for year-end adjustments are as follows: • Unbilled fees at July 31, $11,150. • Supplies on hand at July 31, $900. • Rent expired, $6,000. • Depreciation of equipment during year, $8,950. • Unearned fees at July 31, $2,000. • Wages accrued but not paid at July 31, $4,840. 9,000 3,350 325,000 Credits $112,500 12,000 660,000 Instructions 1. Journalize the six adjusting entries required at July 31, based on the data presented.
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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