Business, 10.03.2020 01:58 aaanderson59
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information:
November 30 December 31
Debit Credit Debit Credit
Supplies 1,400 2,900
Prepaid Insurance 5,600 4,200
Salaries Payable 9,800 14,800
Deferred Revenue 1,800 900
The following information also is known:1. Purchases of supplies in December total $4,500.2. No insurance payments are made in December.3. $11,000 is paid to employees during December for November salaries.4. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January. Unearned Revenue is credited. Required:Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and unearned revenue on December 31.
Answers: 2
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Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and Decembe...
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