Assessing Financial Statement Effects of Adjustments
For each of the following separate situations, prepare the necessary accounting adjustments using the Financial Statement Effects Template.
a
Unrecorded depreciation on equipment is $
b
The supplies account has a balance of $ Supplies still available at the end of the period total $
c On the date for preparing financial statements, an estimated utilities expense of $ has been incurred, but no utility bill has yet been received or paid.
d On the first day of the current period, rent for four periods was paid and recorded as a $ increase to prepaid rent and a $ decrease to cash.
e Nine months ago, a oneyear service policy was sold to a customer, and the insurance company recorded the cash received by increasing crediting unearned revenue for $ No accounting adjustments have been prepared during the ninemonth period. The insurance company is now preparing annual financial statements.
f
At the end of the period, employee wages of $ have been incurred but not paid or recorded.
g
At the end of the period, $ of interest has been earned but not yet received or recorded.
