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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 A NET LOSS Jason Armstrong started a business called Campus Delivery Service. After the first month of operations, the trial balance as of November 30, 20--, is as shown on the next page.

REQUIRED

  1. 1. Analyze the following adjustments and enter them on the work sheet.
    1. (a) Ending inventory of supplies on November 30, $185.
    2. (b) Unexpired (remaining) insurance as of November 30, $800.
    3. (c) Depreciation expense on van, $300.
    4. (d) Wages earned but not paid as of November 30, $190.
  2. 2. Complete the work sheet.

images

1&2

To determine

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

Explanation

Provide the given 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 ending supplies inventory of $185...

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