Preparing adjusting entries and preparing an adjusted trial balance [20-30 min]
Using the trial balance prepared in Chapter 2, consider the following adjustment data gathered by Evan:
a. Evan prepared an inventory of supplies and found there were $50 of supplies in the cabinet on November 30.
b. One month’s combined depreciation on all assets was estimated to be $170.
Requirements
1. Using the data provided from the trial balance, the previous adjustment information, and the information from Chapter 2, prepare all required adjusting journal entries for November.
2. Prepare an adjusted trial balance as of November 30 for Shine King Cleaning, Inc.
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