Adjusting Entries
Two months (July and August) have passed since Ms. Valli has seen the financial statements for All About You Spa. It is time to begin their preparation. Several accounts need adjusting. These include the accounts you adjusted in Chapter 4 as well as any accounts involved with merchandising.
Adjusting Entry Information
Merchandise Inventory Adjustment (a)
A physical count of inventory was taken, and the inventory was valued at $11,310.
Supplies Adjustments (b) and (c)
A physical count has been taken of the two supplies accounts. The values of the remaining inventories of supplies are as follows:
Prepaid Insurance Adjustment (d)
A review of the insurance records determined that $233.34 in liability insurance coverage had been used during the last two months.
Depreciation Adjustments (e) and (f)
Estimated depreciation amounts for the two equipment accounts are as follows:
Wages Expense/Wages Payable Adjustment
There is no need for a Wages Expense/Wages Payable adjustment because the end of the fiscal period did not come in the middle of a pay period.
Required
Financial And Managerial Accounting
College Accounting, Chapters 1-27
Corporate Financial Accounting
Accounting Information Systems
Intermediate Accounting: Reporting And Analysis
Managerial Accounting: The Cornerstone of Business Decision-Making
Financial & Managerial Accounting
Financial Accounting
Accounting Information Systems
Contemporary Marketing
Principles of Macroeconomics (MindTap Course List)
Management, Loose-Leaf Version
Foundations of Business (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Fundamentals of Financial Management (MindTap Course List)
Essentials of Business Communication (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
MKTG 12:STUDENT ED.-TEXT
Principles of Microeconomics (MindTap Course List)
Principles of Economics (MindTap Course List)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Essentials of Economics (MindTap Course List)
Accounting (Text Only)
College Accounting (Book Only): A Career Approach
Financial Accounting
Financial & Managerial Accounting
Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Statistics for Business & Economics, Revised (MindTap Course List)
Exploring Economics
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Principles of Macroeconomics (MindTap Course List)
Pkg Acc Infor Systems MS VISIO CD
Survey of Accounting (Accounting I)
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Economics For Today
Economics (MindTap Course List)
Microeconomics
Practical Management Science
Cornerstones of Cost Management (Cornerstones Series)
Purchasing and Supply Chain Management
Cornerstones of Financial Accounting
Managerial Accounting
Principles of Microeconomics
MACROECONOMICS FOR TODAY
Microeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics: Private and Public Choice (MindTap Course List)
Micro Economics For Today
Economics: Private and Public Choice (MindTap Course List)
Understanding Management (MindTap Course List)