Answer:
Explanation:
The adjusting entries are shown below:
1. Supplies expense A/c Dr $370
To supplies A/c $370
(Being supplies account is adjusted)
The supplies expense is computed by
= Supplies balance - supplies on hand
= $570 - $200
= $370
2. Insurance expense A/c Dr $190
To Prepaid Insurance $190
(Being prepaid insurance is adjusted)
3. Salaries expense A/c $1,280
To Salaries payable A/c $1,280
(Being salary is adjusted)
The salaries expense is computed by
= Total five days × number of days ÷ total number of days
= $3,200 × (2 ÷ 5)
= $1,280
4. Electricity expense A/c Dr $270
To electricity payable A/c $270
(Being electricity usage is adjusted)
