the general journal adjusted entries An adjusted trial balance Closing entries t
ID: 2331910 • Letter: T
Question
the general journal adjusted entries An adjusted trial balance Closing entries to the general journal Post closing trial balanceI have also attached the values I got from my last assignment.
Continue with the Assignment from Unit 2, using the same Excel Template and complete the following steps: 1. Prepare/Journalize the Adjusting entries A-F a. Insurance expired during June is $150. b. Supplies on hand on June 30 are $1,020 c. Depreciation of office equipment for June is $500 d. Accrued receptionist salary on June 30 is $120. e. Rent expired during June is $1,500. f. Unearned fees on June 30 are $2,000. 2. Post the adjusting entries to the General Ledger. 3. Prepare an income statement, a statement of owner's equity, and a balance sheet. 4. Journalize and post the closing entries. (Income Summary is account #33 in the chart of accounts.) 5. Prepare a post-closing trial balance.
Explanation / Answer
Adjsutment Journal Entry
Dr Cr Insurance Expense 150 Insurance Prepaid 150 Supplies Expense 980 Supplies 980 Depreciation Expense 500 Accumulated Depreciation 500 Wages and Salaries 120 Wages and Salaries Payable 120 Rent Expense 1500 Prepaid Rent 1500 Unearned Fees 1000 Earned fees 1000Related Questions
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