Help with accounting please!?

Answers:0   |   LastUpdateAt:2012-07-16 18:26:02  

Asked at 2012-07-16 18:26:02
Welch Company prepares monthly financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the month of September.
Trial Balance (selected accounts)
September 30, 2008
Office Supplies-debit-$2700
Prepaid Insurance-debit-$4200
Office equipment-debit-$16200
Accumulated Depreciation-office equipment-$1000
Unearned Rent Revenue-$1200
An analysis of the account balances by the company's accountant provided the following additional information:
1. A physical count of office supplies revealed $1000 on had on September 30.
2. A two-year life insurance policy was purchased on June 1 for $4800
3. Office equipment depreciated $6000 per year
4. The amount of rent received in advance that remains unearned at September 30 is $500
Instructions: Using the above additional information, prepare the adjusting entries that should be made by Welch Company on September 30.

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