Answer:
Explanation:
We solve by taken into consideration the transaction on a,b,c and d. This will allow us to get the unadjusted ending balance of each account we then compare it to be the adjusted balance on december 31 to find the adjustments made.
a) For supplies account:
supplies, November 30 $2,000
purchase of additional supply doing December 4,500
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supplies, December 31(unadjusted) $6,500
Adjustment squeeze 3,000
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supllies december 31 3,500
The adjustment is squeeze meaning it was used as force balancing. Adjustmnet include a debit to supplies,expense and credit to supplies for $3,000
b) For supplies account:
Prepaid, Insurance November 30 $8,000
Additional insurance payment doing December 0
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Prepaid insurance , December 31 (unadjusted) $8,000
Adjustment squeeze 2,000
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Prepaid insurance december 31 (adjusted ) 6,000
The adjustment is squeeze meaning it was used as force balancing. Adjustmnet include a debit to insurance expense and credit to prepaid insurance for $2,000
c) For supplies account:
salary payable November 30 $11,000
salary paid doing December 11,000
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Salary payable , December 31 (unadjusted) 0
Adjustment squeeze 16,000
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Prepaid insurance december 31 (adjusted ) $16,000
The adjustment is squeeze meaning it was used as force balancing. Adjustmnet include a debit to salary which represent unpaidupaid salary payable $16,000
d) For supplies account:
Deffered revenue November 30 $3,000
Additiona Advances from customer in december 0
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Refered revenue , December 31 (unadjusted) 3,000
Adjustment squeeze 1,500
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refered revenue december 31 (adjusted ) $1,500
The adjustment is squeeze meaning it was used as force balancing. Adjustmnet include a debit to defred revenue and a credit to service revenue for $1,500 .
