Question: 1) Required: Prepare any necessary adjusting entries. 17 marks 2) Prepare and Adjusted Trial Balance: 10 marks The trial balance of LMNOP Company Inc. Contains





1) Required: Prepare any necessary adjusting entries. 17 marks 2) Prepare and Adjusted Trial Balance: 10 marks The trial balance of LMNOP Company Inc. Contains the following accounts at September 30, 2015. The following information is made available to you the accountant: 1) Store supplies on had totalled $5,500.00 2) Depreciation is $40,000 on the office equipment and $30,000 on the other equipment 3) Interest of $8,000 is accrued on notes payable at September 30,2015. 4) September 30 is a Wednesday. Weekly salary is $12,500 and was last paid on Friday September 25. The work week is Monday-Friday. 5) The landiord required rent to be paid 5 months in advance as of June 1, 2015 . 6) The unearned revenue was for work paid for in advance and to be completed by August 31 . The 3) Prepare the Closing Entries: 10 marks
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