Question: Please help: Virtual School Adjusting Entries In Class Journal Assignment Perform the adjusting entries for the following transactions. Be sure to use dates for each

Please help: Please help: Virtual School Adjusting Entries In Class Journal Assignment Perform the

Virtual School Adjusting Entries In Class Journal Assignment Perform the adjusting entries for the following transactions. Be sure to use dates for each # and reference numbers. 1-Dec Dec 1 showed $1,850 in supplies. On Dec 31 there was $688 supplies on hand. 2-Dec July 1 we purchased $8,200 in advertising services. Dec 31 there was $2,900 of advertising services still owed 3-Dec We purchased a new car on Sept 1 for $29,000. It has a residual value of $1,700 and an estimated useful life of 8 years. Perform the amortization for Dec 31. (think how many months) 4-Dec Oct 1st you borrowed $9,400 from a friend who gave you an 8% interest rate and 4 months to pay you back. Calculate interest owing. Perform adjustment for Dec 31. 5-Dec Records show that you owe your part time employees 213 hours at $13.75/hour. 6-Dec Jan 1 2020 you prepaid your insurance for 24 months for $11,360. Perform the adjustment for Dec 31, 2020. 7-Dec You have not billed Goodlife Fitness for the 13 classes of Hot Yoga you taught where you charge $65/hour. Perform the adjustment. 8-Dec June 1st you received $5,000 for landscaping services. Dec 31 shows that you only owe $1,200 left on your services. 9-Dec Dec 1 shows that we have $28,500 in Inventory. Dec 31 - there is $21,500 of Inventory on hand. 10-Dec Dec 1 you were paid $1,700 in advance for marketing services. 11-Dec You purchased a machine for $18,300 that has no salvage value and an estimated useful life of 1 dog year. (aka 7 years) Calculate full year amortization. 12-Dec Nov 1 you borrowed $10,000 from the bank at an interest rate of 11% payable in 120 days. Calculate Interest Owing for Dec 31. Each entry is 12 - you must get the account and the total correct - 0.5 mark for each Total 124

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