Reference no: EM132543898
Ahmad Internet Consulting company adjusts its accounts every month. On the following page is the company's year-end unadjusted trial balance dated December 31, 2019. (Note that adjusting entries already have been made for the first 11 months of 2019 but have not been made for December.)
Other Data
1. On December 1, the company signed a new rental agreement and paid three months' rent in advance at a rate of Rs 1,500 per month. This advance payment was debited to the Prepaid Office Rent account.
2. Dues and subscriptions expiring during December amounted to Rs 150.
3. An estimate of supplies on hand was made at December 31; the estimated cost of the unused supplies was Rs 450.
4. The useful life of the equipment has been estimated at five years (60 months) from date of acquisition.
5. Consulting services valued at Rs 3500 were rendered during December to clients who had made payment in advance.
6. Salaries earned by employees but not paid as of December 31 amount to Rs 2000.
Instructions
Question 1: Prepare the necessary adjusting journal entries on December 31, 2011
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