Reference no: EM132466148

Question a. Prepare all necessary adjusting and correcting entries required based on the information given, up to item 13 (use excel Tab a. Journal Entries).

In March 2020, Wexdorf closed its Stratford, ON location. The Stratford location had some equipment that it sold for proceeds of $300 cash. The entry made when depositing the cash was debit Cash, credit Gain on Disposal of Equipment. The original cost of the equipment was $4,300 and the accumulated depreciation was $4,200. Up to its closure, the Stratford location generated Service Revenue of $11,750 in 2020 and had the following expenses that are included in the unadjusted trial balance:

1. Salaries and Wages, $3,600
2. Rent, $9,000
3. Telephone and internet expense, $300
4. Office expense, $500