Journalize the required Adjusting Entries based on the information below: a ) ? Accounting records show Supplies
Question:
Journalize the required Adjusting Entries based on the information below:
a ? Accounting records show Supplies of $ ?but the inventory count says $
b ? The Prepaid Insurance represents two months of prepaid insurance left over from last year.
c ? Our Employee, Nichole Hansen, worked for four days at the end of January for which we have not yet paid him. We pay him $ ?per day.
d ? Metal Corporations Building has a salvage value of $ ?and a ?year useful life and straightline depreciation is used. Record a onemonth adjustment. round to nearest dollar
IV ?Post the Adjusting Entries to the General Ledger.
V ?Create an Adjusted Trial Balance.
VI ?Create the Financial Statements Income Statement, Statement of Owners Equity, Balance Sheet, and Cash Flow Statement
VII. Journalize the Closing Entries in the General Journal.
VIII. Post the Closing Entries to the General Ledger.
IX ?Create the PostClosing Trial Balance.
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille