Answer to Question #257400 in Management for HHHH

Question

Some selected balances of DD Co. for year ended Dec-31-2019 are as follows with their

normal balances before adjustments:

Cash and Cash Equivalent Br 20,000 Owners’ Capital 40,000

Notes Receivables 45,000 Retained Earnings 75,000Office Supplies 12,000 Sales Revenues 640,000Prepaid Insurance 72,000 Interest Income 12,000Inventory (Average Cost) 24,000 Cost of Goods Sold 320,000Fixed Assets 120,000 Selling Expenses 21,000Accum. Depr- Fixed assets 36,000 Salary and Wages Expense 105,000Unearned Rent (Liability) 56,000 Rent Expense 15,000Requireda. Prepare the necessary adjusting entries for the following items as not yet recorded on

Dec-31-2019:

Answer 1

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