Answer to Question #252758 in Other for mek

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 Ownersà ƒ ƒ ¢ € ™ Capital 40,000
Notes Receivables 45,000 Retained Earnings 75,000
Office Supplies 12,000 Sales Revenues 640,000
Prepaid Insurance 72,000 Interest Income 12,000
Inventory (Average Cost) 24,000 Cost of Goods Sold 320,000
Fixed Assets 120,000 Selling Expenses 21,000
Accum. Depr- Fixed assets 36,000 Salary and Wages Expense 105,000
Unearned Rent (Liability) 56,000 Rent Expense 15,000
Required
a. Prepare the necessary adjusting entries for the following items as not yet recorded on
Dec-31-2019:
i. The office supplies consumed during the year is Br 8,000
ii. The Unexpired part of insurance is only Br 26,000
iii. Br 30,000 is earned sales revenues from the unearned advance collection

Answer 1

Dear mek, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order