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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

The trial balance of The New Decors for the month ended September 30 is as follows:

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Data for the adjustments are as follows:

  1. a. Expired or used-up insurance, $425.
  2. b. Depreciation expense on equipment, $2,750.
  3. c. Wages accrued or earned since the last payday, $475 (owed and to be paid on the next payday).
  4. d. Supplies remaining at end of month, $215.

Required

  1. 1. Complete a work sheet. (Skip this step if using GL.)
  2. 2. Journalize the adjusting entries.

*If you are using CLGL, use the year 2020 when recording transactions.

1.

To determine

Indicate the given adjustments and complete the worksheet for N Decors for the month ended September 30, 20--.

Explanation

Worksheet: Worksheet is an accounting tool that help accountants to record adjustments and up-date balances required to prepare financial statements. Worksheet is a central place where trial balance, adjustments, adjusted trial balance, income statement, and balance sheet are presented...

2.

To determine

Prepare adjusting journal entries for N Decors.

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