The financial year for uChampion (UC) ends on 31 May. The following adjusting entries need to...

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The financial year for uChampion (UC) ends on 31 May. The following adjusting entries need to be recorded for the month ending 31 May 2022: 1The Revenue ledger balance includes unearned revenue. 2The Repairs expense incurred but not paid at year-end. The supplies account had a $50 debit balance on 1 June 2021. 3Supplies of $370 were purchased during the year and supplies $? of $60 are on hand as at 31 May 2022. 4Depreciation on Motor Vehicle is yet to be recorded. 5. The Insurance Expense ledger balance includes amount for insurance in June 2022. The business paid for a Professional Secretary (PS) Magazine 6annual subscription on 1 December 2021. The prepaid subscription for the full year was..... Required: Journalise the required adjusting entries for the month of May. Narrations are not required. 320 $360 $350 $300 $720 12 marks You calculate $? The financial year for uChampion (UC) ends on 31 May. The following adjusting entries need to be recorded for the month ending 31 May 2022: 1The Revenue ledger balance includes unearned revenue. 2The Repairs expense incurred but not paid at year-end. The supplies account had a $50 debit balance on 1 June 2021. 3Supplies of $370 were purchased during the year and supplies $? of $60 are on hand as at 31 May 2022. 4Depreciation on Motor Vehicle is yet to be recorded. 5. The Insurance Expense ledger balance includes amount for insurance in June 2022. The business paid for a Professional Secretary (PS) Magazine 6annual subscription on 1 December 2021. The prepaid subscription for the full year was..... Required: Journalise the required adjusting entries for the month of May. Narrations are not required. 320 $360 $350 $300 $720 12 marks You calculate $?

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Here are the adjusting journal entries for uChampion UC for the month ending 31 May 2022 1 To recogn... View the full answer