Reference no: EM131127706
Chinook Company, an electronics repair store, prepared the unadjusted trial balance shown below at the end of its first year of operations.
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For preparing the adjusting entries, the following data were assembled:
(a) Fees earned but unbilled on November 30 were $1,300.
(b) Supplies on hand on November 30 were $3,100.
(c) Depreciation of equipment was estimated to be $3,500 for the year.
(d) The balance in unearned fees represented the November 1 receipt in advance for services to be provided. Only $4,000 of the services was provided between November 1 and November 30.
(e) Unpaid wages accrued on November 30 were $900.
Instructions
Journalize the adjusting entries necessary on November 30,2010.
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For preparing the adjusting entries
: Chinook Company, an electronics repair store, prepared the unadjusted trial balance shown below at the end of its first year of operations.
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