Problem: Prepare year-end adjusting entries for each of the following:
1. Office Supplies had a balance of $168 on January 1. Purchases debited to Office Supplies during the year amount to $830. A year-end inventory reveals supplies of $570.
2. Depreciation of office equipment is estimated to be $4,260 for the year.
3. Property taxes for six months, estimated at $1,750, have accrued but have not been recorded.
4. Unrecorded interest receivable on US government bonds is $1,700.
5. Unearned Revenue has a balance of $1,800. Services for $600 received in advance have now been performed
6. Services totaling $400 have been performed; the customer has not yet been billed.
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General Journal
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Date
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Item
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Post.
Ref.
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Debit
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Credit
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Jan
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1
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Office Supplies Expense
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168
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Office Supplies
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168
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Office Supplies Expense
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830
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Office Supplies
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830
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Office Supplies
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570
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Depreciation Expense
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4,260
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Office Equipment
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4,260
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Property Expense
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1,750
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Tax Payable
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1,750
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Accrued unrecorded
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Revenue Expense
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1,800
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Revenue Payable
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1,800
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Accounts Receivable
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600
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Services Received
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600
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Accounts Receivable
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400
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Services Received
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400
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