Selected accounts of Leno Company are shown below. Instructions From an analysis of the T-accounts, reconstruct (a)

Question:

Selected accounts of Leno Company are shown below.

Instructions

From an analysis of the T-accounts, reconstruct

(a) The October transaction entries,

(b) The adjusting journal entries that were made on October 31, 2022.

Prepare explanations for each journal entry.

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Intermediate Accounting IFRS

ISBN: 9781119607519

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jul 28, 2021 02:14 AM

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Selected accounts of Leno Company are shown below. Instructions From an analysis of the T-accounts, reconstruct (a)

Question:

Supplies Accounts Receivable Beg. Bal. 80o 10/31 470 10/17 2,100 10/31 1,650 Salaries and Wages Expense Salaries and Wages Payable 10/15 800 10/31 600 10/31 600 Unearned Service Revenue Supplies Expense |10/31 400 10/20 650 10/31 470 Service Revenue 10/17 2,100 10/31 1,650 10/31 400

Step by Step Answer:

a Particulars Debit Credit 1015 Salaries and wages 800 Cash account 800 1017 Account receivables 210...View the full answer

Intermediate Accounting IFRS

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