Journalize and post the adjusted entries

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Reference no: EM132826335

The following are year end (Dec 31, 2018) results adjustments for XYZ consulting

Cash 10,000

Accounts Receivable 28,000

Supplies 400

Prepaid Insurance 2,000

Equipment 25,000

Accumulated Depreciation - Equipment 8,000

Accounts Payable 10,200

Wages Payable

Capital 42,400

Withdrawal 2,400

Service Revenue 38,000

Wages Expense 14,000

Utilities Expense 5,800

Insurance Expense

Depreciation Expense

Supplies Expense

Rent Expense 11,000

Adjustments

A) Supplies on hand at December 31, $50

B) The equipment costing 25,000 had an estimated useful life of 5 years with a residual value of 5,000

C) Insurance expired 600

D) Wages earned by employees not yet paid amounted to 1,300

Problem 1: Journalize and Post the Adjusted Entries

Reference no: EM132826335

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