Prepare adjusting journal entries for the year ended 228151, Ask an Expert

Accounting

Prepare adjusting journal entries for the year ended 2/28/15.

1) An audit of cash in bank accounts and on hand reveals that $500 is mission from the company's 20 retail locations. (What does mission mean?)

2) A count of inventory indicated an ending balance of $64,750. Originally: $65,000

3) Dividends of $3000 were declared on investments in marketable securities. These dividends will be received in March 2015. The market value of the marketable securities was $48,000 at 2/28/15.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91524878

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