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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

ADJUSTMENTS AND WORK SHEET SHOWING NET INCOME The trial balance after one month of operation for Mason’s Delivery Service as of September 30, 20--, is shown below. Data to complete the adjustments are as follows:

  1. (a) Supplies inventory as of September 30, $90.
  2. (b) Insurance expired (used), $650,
  3. (c) Depreciation on delivery equipment, $600.
  4. (d) Wages earned by employees but not paid as of September 30, $350.

REQUIRED

  1. 1. Enter the adjustments in the Adjustments columns of the work sheet.
  2. 2. Complete the work sheet.

images

1&2

To determine

Provide the adjustments in the Adjustments columns of the work sheet and complete the work sheet.

Explanation

Provide the adjustments in the Adjustments columns of the work sheet and complete the work sheet.

(Figure 1)

Working note:

(1) Calculate the adjustment amount for the supplies inventory of $90...

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