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Prepare end-of-month adjustments for june

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Question - Use the journal page below, prepare end-of-month adjustments for June. Leave a space between each transaction. All rows do not need to be used.

(a) The balance in the Supplies account is $865. An inventory taken at the end of the month shows supplies on hand worth $349.

(b) The beginning balance in the Prepaid Rent account is $9,000. The monthly rent is $3,000.

(c) A twelve-month insurance policy was purchased for $2400 at the beginning of the month. The balance in Prepaid Insurance is $2,400.

(d) The Truck account has a balance of $60,000 and Accumulated Depreciation-Truck has a balance of $30,000. The depreciation rate is 30 percent per year using the declining-balance method.

Reference no: EM133188261

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