Problem 3-2B P 123 Accounting Adjustments

Sheet3 Sheet2 Sheet1 Accounting Adjustments Calculations a) Opening Balance Supplies Purchased in year (DR supplies pp, Cr cash) Closing Inventory 31 dec Therefore Supplies consumed in year b) Insurance Prepaid Policy A Policy B Policy C Opening Bals Monthly Consumption Consumed Insurance Closing Bals Months c) Cost per day Salary Accrued d) Building Cost Life Residual Value Annual Depreciation : (Cost-Residual Value)/Life Annual Depreciation: e) Salaries Payable Depreciation Accrued Revenue 1 Month Revenue Accrued f) Unearned Revenue 2 months Earned Unearned revenue Aqdjustment Journals Ref Description DR CR A1 Supplies Expense Supplies PP A2 Insurance Expense Insurance PP A3 Salary Expense Salary Payable A4 Depreciation Expense Accumulated Depreciation A5 Accounts Receivable Revenue A6 P123 Problem 3-2B Year end accounting 31 October 2005 Year Months Opening Bals Policy A is 17 months (24 months minus 7 months consumed) 1 day salary unrecorded, Monday Oct 31 (155000-20000)/25 000.00 0000.00 0000.00 000.00 0000.00 11/1/2004 10/31/2005 0000.00 00.00 000.00 0000.00 00.00 00.00 0000.00 000.00 0.00 0.00 000.00 0000.00 00.00 0.00 000.00 0000.00 0000.00 00.00 0.00 00.00 000.00 00.00 0.00 000.00 000.00 000.00 0.00 0000.00 000.00 000.00 000000.00 00.00 00000.00 0000.00 000000.00 00000.00 00.00 000.00 11/1/2005 12/31/2009 12/31/2009 0000.00 0.00 000.00 0000.00 000.00 0.00 0000.00 0000.00 0000.00 0000.00 0000.00 000.00 000.00 0000.00 0000.00 000.00 000.00 0000.00 0000.00