Question: Please help me on this assignment, it's worth 20% on my final grade. I appreciated your efforts. Thanks! 2. List and explain the four types
Please help me on this assignment, it's worth 20% on my final grade.2. List and explain the four types of adjustments. 3. Please prepare the adjusting entries for the following transactions during June a) Salaries of R.O. 8,000 are accrued at the end of the month. b) R.O. 3,520 of unearned revenue is recognized for services performed during June. c) The insurance expired for the month on June 30 (Insurance of RO. 48.000 was prepaid for 4- years on June 1) d) On June 30, a bill of R.O. 3,600 was sent to customers for services provided. e) A utility bill of R.O. 8,150 for June was received but will not be paid until next month. Supplies on hand at June 30 are RO. 1,500 (June 1 balance was R.O, 6,500) g) Equipment depreciates at R O. 3,400 per year. 4. The following information relates to Al Habsi Co. for the year 2014. Retained earnings, January 1, 2014 R.O. 75,000 Advertising expense R.0.11,500 10,500 26,000 Rent expense Dividends 125,500 36,000 Service revenue Salaries and wages expense 3,500 Utilities expense Instructions Please prepare an income statement and a retained earnings statement for the year ending December 31, 2014
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