Answer:
supplies expense 4,535 debit
supplies 4,535 credit
--to record suplpies consumption--
unearned revenue 1,050 debit
rent revenue 1,050 credit
--to record accrued rent revenue--
salaries expense 2,030 debit
salaries payable 2,030 credit
--to record accrued wages--
account receivables 18,090 debit
fees earned 18,090 credit
--to record fees performed--
dep expense 4,500 debit
accumulated depreication- equip 4,500 credit
--to record depreication for the period--
mostly, the adjusting entries are made to acknowledgethe past of time
Whie correcting entries fix erroneuos entries.
There as no mistake to amend in adjsuting entries. When we purchase the supplies and debit for 4,535
but as tiem pass we use them and know we acknowledge the amount consumed.
Explanation:
1) we subtract accounting balance with the physical count the difference si the supplies expense as those suplpies are extinguish
2)4,100 represent 4 months we divde and get the value of one month
