Prepared and make adjusting and reclassifying entries

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Reference no: EM13748083

Review each of the following items that were noted by the CFO after the unadjusted trial balance was prepared and make adjusting and reclassifying entries as necessary. Do not assume that all items listed require adjustments or reclassifications.

a. $2,000 was charged to occupancy and utility expense that represented a rental deposit for a three-year operating lease of a new copier.

b. Depreciation expense recorded for the year was incorrect. The correct amount of depreciation should have been $50,000.

c. Ending inventory included $3,500 for brochures related to the planned giving campaign scheduled to begin September 1, 2014.

d. Service Fees - Daycare included $5,500 related to childcare services for the week beginning July 1, 2014.

Reference no: EM13748083

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