Show the adjusting entries that were made for supplies

Reference no: EM131519827

Question: Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information:

The following information also is known:

a. Purchases of supplies in December total $3,500.

b. No insurance payments are made in December.

c. $10,000 is paid to employees during December for November salaries.

d. On November 1, a tenant pays Golden Eagle $3,000 in advance rent for the period November through January. Unearned Revenue is credited.

Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and unearned revenue on December 31.

Reference no: EM131519827

Questions Cloud

Discuss the steps in the accounting cycle : Listed below are all the steps in the accounting cycle.

What makes psychoanalytic-social perspective of unique : What makes the psychoanalytic-social perspective of personality unique? What are the main components of each of the psychoanalytic-social personality theories

Develop a sample leave policy to be presented to the company : Explain other employee leave options for the company without compromising the company's financial objectives.

President bush violated terms of military service : CBS News' Dan Rather had a memorandum claiming former president Bush violated terms of military service during the Vietnam war

Show the adjusting entries that were made for supplies : Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account.

The case-kaizer consulting : Kaizer Consulting is an international management consulting firm that specializes in business strategy and serves as a key advisor to the world.

Consider given transactions for huskies insurance company : Equipment costing $36,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,000 per year.

Summarize the elements of the drp policy and irt charter : Summarize the elements of the DRP Policy and IRT Charter, covering the main elements from Steps 3 and 4 above. b. Include an introduction and conclusion slide.

Stages of the lifecycle : How has Toyota tried to reach consumers of all ages and stages of the lifecycle?

User Account

All Pages