On journal paper, prepare year-end adjustments for the following independent items. OMIT EXPLANATIONS. Before adjustment, the...

 

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On journal paper, prepare year-end adjustments for the following independent items. OMIT EXPLANATIONS. Before adjustment, the balance in the Unearned Revenue account is $45,000 (assume normal balance). At the end of the year A. two thirds was still unearned. B. Services totaling $7,500 has been performed but not yet billed. C. Depreciation on equipment totaled $4,000 for the year. Before adjustment, the balance in the Supplies account is $12,000 (assume normal balance). At the end of the year only $3,600 of supplies remained. D. E. Payroll for the five day work week, to be paid on Friday, is $31,000. Year end falls on a Tuesday. On journal paper, prepare year-end adjustments for the following independent items. OMIT EXPLANATIONS. Before adjustment, the balance in the Unearned Revenue account is $45,000 (assume normal balance). At the end of the year A. two thirds was still unearned. B. Services totaling $7,500 has been performed but not yet billed. C. Depreciation on equipment totaled $4,000 for the year. Before adjustment, the balance in the Supplies account is $12,000 (assume normal balance). At the end of the year only $3,600 of supplies remained. D. E. Payroll for the five day work week, to be paid on Friday, is $31,000. Year end falls on a Tuesday.

Answer rating: 100% (QA)

Answer Explanation As per given details please refer below adjustment entries Sr No Date Account Tit... View the full answer