The following information is provided for Worldwide Travel Service which is owned by Albert Mitchell as at 30 June 2020. 1. During the month of June 2020, the business purchased $1,220 of supplies on credit. On 30 June 2020, $620 worth of supplies were still on hand. 2. Monthly depreciation on the business's office equipment is $500. 3. The business owed its casual employees $1,300 for working the last week of June. The employees had not been paid at the 30th June 2020. 4. On the 1st June 2020 the business paid rent on its premises for the 3-month period covering 1st June 2020 to 30th August 2020 of $3,600. Required: Prepare the adjusting journal entries that relate to each of the above transactions as at 30 June 2020. Narrations ARE NOT required.

The following information is provided for Worldwide Travel Service which is owned by Albert Mitchell as at 30 June 2020. 1. During the month of June 2020, the business purchased $1,220 of supplies on credit. On 30 June 2020, $620 worth of supplies were still on hand. 2. Monthly depreciation on the business's office equipment is $500. 3. The business owed its casual employees $1,300 for working the last week of June. The employees had not been paid at the 30th June 2020. 4. On the 1st June 2020 the business paid rent on its premises for the 3-month period covering 1st June 2020 to 30th August 2020 of $3,600. Required: Prepare the adjusting journal entries that relate to each of the above transactions as at 30 June 2020. Narrations ARE NOT required.

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Description: The following information is provided for Worldwide Travel Service which is owned by Albert Mitchell asat 30 June 2020.1. During the month of June 2020, the business purchased $1,220 of supplies on credit. On 30 June2020, $620 worth of supplies were

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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