JOURNALIZE THE ADJUSTING ENTRIES NECESSARY ON DECEMBER 31 For preparing the adjusting entries, the following data were assembled: Supplies on hand on December 31 were $350. Beginning supplies $1,820. Fees earned but unbilled on December 31 were $1,750. Depreciation of equipment was estimated to be $1,600 for the year. Unpaid wages accrued on December 31 were $380. The balance in unearned fees represented the December 1 receipt in advance for services to be provided. Only $700 of the services were provided between December 1 and December 31. The Unearned Fees beginning balance on December 1 was $2800.
JOURNALIZE THE ADJUSTING ENTRIES NECESSARY ON DECEMBER 31 For preparing the adjusting entries, the following data were assembled: Supplies on hand on December 31 were $350. Beginning supplies $1,820. Fees earned but unbilled on December 31 were $1,750. Depreciation of equipment was estimated to be $1,600 for the year. Unpaid wages accrued on December 31 were $380. The balance in unearned fees represented the December 1 receipt in advance for services to be provided. Only $700 of the services were provided between December 1 and December 31. The Unearned Fees beginning balance on December 1 was $2800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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JOURNALIZE THE
For preparing the adjusting entries, the following data were assembled:
- Supplies on hand on December 31 were $350. Beginning supplies $1,820.
- Fees earned but unbilled on December 31 were $1,750.
-
Depreciation of equipment was estimated to be $1,600 for the year. - Unpaid wages accrued on December 31 were $380.
- The balance in unearned fees represented the December 1 receipt in advance for services to be provided. Only $700 of the services were provided between December 1 and December 31. The Unearned Fees beginning balance on December 1 was $2800.
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