Post the adjusting entries and prepare an adjusted trial balance for the following information. 

From the June 18, transaction Bella Computers purchased $1,200.00 of office supplies on credit. At the end of the month, there are $500.00 of supplies remaining.

From the June 2, transaction Bella Computers purchased office furniture and fixtures at a cost of $20,000, estimated to have a 10-year useful life, with no residual value. Depreciation is recorded using the straight-line method (cost-residual value/estimated life).

From the June 4 transaction, Bella Computers purchased machinery at a cost of $100,000, estimated to have a useful life of 7 years, with a salvage value of $9,000. Depreciation is recorded using the straight-line method (cost-residual value/estimated life).

Bella Computers paid a 1-year prepaid lease for the sum of $1,000 per month. They make an adjustment at the end of the month to record one month’s lease expiration.

From the June 10 transaction, Bella Computers paid the premiums on June 10 for a two-year policy that officially begins coverage on July 1 and will continue for 2 years. The prepaid premium for the entire 2-year policy is $3,600.00. They make an adjustment at the end of the month to record one month’s insurance coverage expiration.

On June 30 Bella Computers owed the secretary/receptionist for 5 days of fees as an independent contractor. I have the general ledger, journal and unadjusted trial balance completed. 

Answer rating: 100% (QA)

Please make a note that finacial year period is not mentioned in the problem So we have considered the period of June to May for year calculation Bella Computers Journal Entries in the Books of Bella ... View the full answer