Post a New Question

adult education

posted by on .

Present, in journal form, the adjustments that would be made on July 31, 2011, the end of the fiscal year, for each of the following.
1. The supplies inventory on August 1, 2010 was $7,350. Supplies costing $20,150 were acquired during the year and charged to the supplies inventory. A count on July 31, 2011 indicated supplies on hand of $8,810.
2. On April 30, a ten-month, 9% note for $20,000 was received from a customer.
*3. On March 1, $12,000 was collected as rent for one year and a nominal account was credited.

  • Accounting? - ,

    Please type your subject in the School Subject box. Any other words, including obscure abbreviations, are likely to delay responses from a teacher who knows that subject well.

    Please note that we don't do students' homework for them. Be sure to go back into your textbook or use a good search engine. http://hanlib.sou.edu/searchtools/

    Once YOU have come up with attempted answers to YOUR questions, please re-post and let us know what you think. Then someone here will be happy to comment on your thinking.

  • adult education - ,

    Solution 3-125   1.  Supplies Expense  ........................................................................  18,690   Supplies  .............................................................................   18,690    2.  Interest Receivable  ......................................................................  450   Interest Revenue  ...............................................................   450   *3.  Rent Revenue  ..............................................................................  7,000   Unearned Revenue  ...........................................................   7,000

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question