The unadjusted trial balance for Sierra Corp. is shown in Illustration 4.5 . Instead of the adjusting
Question:
The unadjusted trial balance for Sierra Corp. is shown in Illustration 4.5 . Instead of the adjusting entries shown in the text at October 31, assume the following adjustment data.
1. Supplies on hand at October 31 total $500.
2. Expired insurance for the month is $100.
3. Depreciation for the month is $75.
4. As of October 31, services worth $800 related to the previously recorded unearned revenue had been performed.
5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $280.
6. Interest expense accrued at October 31 is $70.
7. Accrued salaries at October 31 are $1,400.
Instructions
Prepare the adjusting entries for the items above.
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Oct 31 31 31 31 31 31 31 Supplies Expense Supplies 2500 500 Insurance Expe...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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