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Prepare end-of-june adjusting entries for cain company

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Reference no: EM132386891

Question :

1. On June 1. 2019, Cain Company, a new firm, paid $5,880 rent in advance for a seven-month period. The $5,880 was debite Prepaid Rent account.

2. On June 1, 2019, the firm bought supplies for $7,150. The $7,150 was debited to the Supplies account. An inventory of suppli the end of June showed that items costing $2,900 were on hand.

3. On June 1, 2019, the firm bought equipment costing $47,520. The equipment has an expected useful life of 9 years and no : value. The firm will use the straight-line method of depreciation.

Prepare end-of-June adjusting entries for Cain Company.

Reference no: EM132386891

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