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Question: On January 31, the end of the current year, the following data were accumulated to assist the accountant in preparing the adjusting entries for Edsel Realty:

a. The supplies account balance on January 31 is $2,750. The supplies on hand on January 31 are $645.

b. The unearned rent account balance on January 31 is $9,450, representing the receipt of an advance payment on January 1 of three months' rent from tenants.

c. Wages accrued but not paid at January 31 are $2,150.

d. Fees accrued but unbilled at January 31 are $13,340.

e. Depreciation of office equipment for the year is $2,900. Journalize the adjusting entries required at January 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336198

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