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harra harra
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6 years ago
The following information is given for Ribbons and Bows prior to adjustments on December 31, 2013. Ribbons and Bows prepares adjusting entries annually on December 31.

a) Salaries of $5,000 are paid every Friday for a five-day workweek ending on Friday. December 31, 2013, is a Thursday.
b) On October 1, 2013, Ribbons and Bows collected $10,000 to be earned evenly over the next five months and credited unearned revenue.
c) Accrued service revenue on December 31 amounts to $1,400.
d) On June 1, 2013, Ribbons and Bows purchased a $4,800, two-year insurance policy and debited an asset account.
e) The supplies account had a January 1, 2013, balance of $2,400. Purchases of supplies during 2013 amounted to $3,500. Supplies on hand December 31, 2013, amount to $800.

Prepare adjusting entries needed on December 31, 2013.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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migrodmigrod
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harra Author
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6 years ago
Brilliant ツ
DragonHeart
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this is exactly what I needed
husne
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Correct Slight Smile TY
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