Question: Use a journal format to prepare end - of - month adjustments for June for the following: ( a ) The balance in the Supplies
Use a journal format to prepare endofmonth adjustments for June for the following:
a The balance in the Supplies account is $ An inventory taken at the end of the month shows supplies on hand worth $
b The beginning balance in the Prepaid Rent account is $ The monthly rent is $
c A month insurance policy was purchased for $ at the beginning of the month. The balance in Prepaid Insurance is $
d The Truck account has a balance of $ and Accumulated DepreciationTruck has a balance of $ The depreciation rate is percent per year using the decliningbalance method.
e After these adjustments have been posted to the ledger accounts, what is the balance in:
i Supplies?
ii Supplies Expense?
iii Prepaid Insurance?
iv Insurance Expense?
v Depreciation ExpenseTruck?
vi Accumulated DepreciationTruck?
vii Prepaid Rent?
viii Rent Expense?
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