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Adjusting Entries

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.

(see data in attached file)


Solution Summary

The solution explains the various adjusting entries.