ACC423 Wk5 Individual Assignment - 31 2008(Ignore income...

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E22-19 (a)  Assuming that the books have not been closed, what are the adjusting entries necessary at December 31,2008? (Ignore income tax considerations) 1.  Supplies expense 1,600            Supplies on hand 1,600 2.  Salaries and wages expense 2,900            Accrued salaries and wages 2,900 3.  Interest revenue 750            Interest receivable on investments 750 4.  Insurance expense 25,000            Prepaid insurance 25,000 5.  Rental income 14,000            Unearned rent 14,000 6.  Depreciation expense 45,000            Accumulated depreciation 45,000 7.  Retained earnings  7,200            Accumulated depreciation 7,200 (b)  Assuming that the books have been closed, what are the adjusting entries necessary at Dece
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Unformatted text preview: 31, 2008? (Ignore income tax considerations) 1. Retained earnings 1,600 Supplies on hand 1,600 2. Retained earnings 2,900 Accrued salaries and wages 2,900 3. Retained earnings 750 Interest receivable on investments 750 4. Retained earnings 25,000 Prepaid insurance 25,000 5. Retained earnings 14,000 Unearned rent 14,000 6. Retained earnings 45,000 Accumulated depreciation 45,000 7. Retained earnings 7,200 Accumulated depreciation 7,200 ember...
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