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Prepare year-end adjusting entries in journal form for each of the following:

1.Office Supplies has a balance of $168 on January 1. Purchases debited to Office Supplies during the year amount to $830. A year-end inventory reveals supplies of $570 on hand.

2.Depreciation of office equipment is estimated to be $4,260 for the year.
3.Property taxes for six months, estimated at $1,750, have accrued but have not been recorded.
4.Unrecorded interest income on U.S. government bonds is $1,7000.
5.Unearned Revenue has a balance of $1,800. Services for $600 received in advance have now been performed.
6.Services totaling $400 have been performed; the customer has not yet been billed.

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M941264

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