Reference no: EM132217519
Question: Prepare adjusting entries.
The unadjusted trial balance for Sierra Corp. is shown in Illustration 4-4. Instead of the adjusting entries shown in the text at October 31, assume the following adjustment data.
1. Supplies on hand at October 31 total $500.
2. Expired insurance for the month is $100.
3. Depreciation for the month is $75.
4. As of October 31, services worth $800 related to the previously recorded unearned revenue had been performed.
5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $280.
6. Interest expense accrued at October 31 is $70.
7. Accrued salaries at October 31 are $1,400.
Instructions: Prepare the adjusting entries for the items above.
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: The unadjusted trial balance for Sierra Corp. is shown in Illustration 4-4. Instead of the adjusting entries shown in the text at October 31.
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