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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

A partial work sheet for Marge’s Place is shown below. Prepare the following adjustments on this work sheet for the month ended June 30, 20–.

  1. a. Expired or used-up insurance, $450.
  2. b. Depreciation expense on equipment, $750.
  3. c. Wages accrued or earned since the last payday, $380 (owed and to be paid on the next payday).
  4. d. Supplies used, $110.

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To determine

Indicate the adjustments on the given worksheet for M’s Place for the month ended June 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...

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