Prepare the adjusting journal entries in the worksheet labelled ABC. The adjusted trial balance columns will update
Question:
Prepare the adjusting journal entries in the worksheet labelled ABC.
The adjusted trial balance columns will update automatically.
You need to enter the journal entry reference letters (a, b, c, etc.)
In the blue-shaded boxes at the bottem, you can add accounts if they don't appear in the trial balance (Don't repeat accounts already reported in the trial balance.) Make Journal Entries Adjustments needed at year-end a At year-end, 3,900 of prepaid insurance relates to next year's insurance coverage.
b At year-end, supplies of $4,200 were left in inventory.
c Services of $2,000 were earned that were prepaid earlier in the year.
d Received the invoice for $3,000 for the 4th quarter property taxes.
e Interest on the mortgage for the year is 12%. This will be paid in January.
f Depreciation expense for the year was $5,800.
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward