QUESTIONThe following balances have been taken from the unadjusted trialbalance of Burwood Electric Services as at 30 June 2016.Debit $ Credit $13,000Rent ExpenseOffice Supplies3,690Insurance Expense3,300Unearned Revenue6,200Office Equipment10,000Accumulated Depreciation-6,000Office EquipmentFollowing additional information is available for which no adjusting entries have been made:Depreciation of $1,500 has to be provided for the office equipment for the year ended 30 June2016.(1)(ii)Insurance Expense of $3,300 does not include $300 payable for the month of June 3016.Office Supplies worth $500 were still on hand as at 30 June 2016.(iii)(iv)Rent expense of $13,000 includes $1,000 paid for the month of July 2016.(v)Unearned revenue of $6,200 includes $5,000 for services completed by 30 June 2016.Bank interest $500 payable for June 2016 has not been recorded in the books.(vi)Required:Prepare the general journal entries required to make necessary adjustments. Include narrations.

The process of recording business transactions in the books of accounts for the first time is…

The following balances have been taken from the unadjusted trial balance of Burwood Electric Services as at 30 June 2016. Debit $ Credit $ 13,000 Rent Expense Office Supplies 3,690 Insurance Expense 3,300 Unearned Revenue 6,200 Office Equipment 10,000 Accumulated Depreciation- 6,000 Office Equipment Following additional information is available for which no adjusting entries have been made: (1) Depreciation of $1,500 has to be provided for the office equipment for the year ended 30 June 2016. (ii) Insurance Expense of $3,300 does not include $300 payable for the month of June 3016. Office Supplies worth $500 were still on hand as at 30 June 2016. (iii) (iv) Rent expense of $13,000 includes $1,000 paid for the month of July 2016. (V) Unearned revenue of $6,200 includes $5,000 for services completed by 30 June 2016. Bank interest $500 payable for June 2016 has not been recorded in the books. (vi) Required: Prepare the general journal entries required to make necessary adjustments. Include narrations.

The following balances have been taken from the unadjusted trial balance of Burwood Electric Services as at 30 June 2016. Debit $ Credit $ 13,000 Rent Expense Office Supplies 3,690 Insurance Expense 3,300 Unearned Revenue 6,200 Office Equipment 10,000 Accumulated Depreciation- 6,000 Office Equipment Following additional information is available for which no adjusting entries have been made: (1) Depreciation of $1,500 has to be provided for the office equipment for the year ended 30 June 2016. (ii) Insurance Expense of $3,300 does not include $300 payable for the month of June 3016. Office Supplies worth $500 were still on hand as at 30 June 2016. (iii) (iv) Rent expense of $13,000 includes $1,000 paid for the month of July 2016. (V) Unearned revenue of $6,200 includes $5,000 for services completed by 30 June 2016. Bank interest $500 payable for June 2016 has not been recorded in the books. (vi) Required: Prepare the general journal entries required to make necessary adjustments. Include narrations.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section22.1: Preparing Adjusting Entries

Problem 1OYO

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