Welch Company prepares monthly financial statements. Below are listed some selected accounts and their balances in the
Question:
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An analysis of the account balances by the company's accountant provided the following additional information:
1. A physical count of office supplies revealed $1,000 on hand on September 30.
2. A two-year life insurance policy was purchased on June 1 for $4,800.
3. Office equipment depreciated $6,000 per year.
4. The amount of rent received in advance that remains unearned at September 30 is $500.
Instructions
Using the above additional information, prepare the adjusting entries that should be made by Welch Company on September30.
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Related Book For 
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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