P 3-1 The following unrelated accounts are extracted from the trial balance of Meekins Limited at...

 

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P 3-1 The following unrelated accounts are extracted from the trial balance of Meekins Limited at December 31, its fiscal year-end: Account a. Prepaid rent b. Wages payable c. Income taxes payable d. Unearned commissions revenue e. Other unearned revenue f. Advertising expense g. Depreciation expense - equipment h. Supplies expense 1. Truck operating expense Balance Unadjusted $300 500 -0- 2,000 25,000 5,000 -0- 850 4,000 Adjusted $ 600 700 1,000 3,000 20,000 3,500 500 625 4,500 Required: For each of the above accounts, prepare the most likely adjusting entry, including plausible descriptions. General ledger account numbers are not necessary. P 3-1 The following unrelated accounts are extracted from the trial balance of Meekins Limited at December 31, its fiscal year-end: Account a. Prepaid rent b. Wages payable c. Income taxes payable d. Unearned commissions revenue e. Other unearned revenue f. Advertising expense g. Depreciation expense - equipment h. Supplies expense 1. Truck operating expense Balance Unadjusted $300 500 -0- 2,000 25,000 5,000 -0- 850 4,000 Adjusted $ 600 700 1,000 3,000 20,000 3,500 500 625 4,500 Required: For each of the above accounts, prepare the most likely adjusting entry, including plausible descriptions. General ledger account numbers are not necessary.

Answer rating: 100% (QA)

Meekins Limited Adjusting Enteries Trans Particulars a b C d e f g h i Prepaid ... View the full answer