Question

Part 1:Determining Wages Paid The wages payable and wages expense accounts at August 31, after adjusting entries have been posted at

Part 2:

Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $2,261. Journa

Part 3:

Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the yea

Part 4:Adjusting Entries for Prepaid and Accrued Taxes A-Z Construction Company was organized on May 1 of the current year. On May 2Part 5:

Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,970. Journalize the

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Answer #1

1) Amount of wages paid = 138250-4680 = 133570

2) Journal entry

Supplies expense (2261-1063) 1198
Supplies 1198

3) Adjusting entry

No General Journal Debit Credit
a Insurance expense ( 14460
Prepaid insurance 14460
b Insurance expense (19020-4560) 14460
Prepaid insurance 14460
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