BUSI 1004 Study Guide - Final Guide: Office Supplies, Trial Balance, Interest Expense
Document Summary
The following are some of the unadjusted account balances from the december 31, 20x7 unadjusted trial balance of fring ltd. : The following additional information is available at year end (december 31, 20x7): The ,000 balance in prepaid insurance represents the amount paid for a 2-year insurance policy for the period july 1, 20x7 to june 30, 20x9. The december 31, 20x7 count of office supplies revealed ,400 of office supplies still on hand. It was determined that ,000 of the unearned consulting revenue had not yet been earned. The interest revenue relates to a 12%, ,000 note receivable issued on january. 1, 20x7, which pays interest semi-annually on july 1 and january 1. Using the partial unadjusted trial balance and the additional information provided, prepare the adjusting journal entries required for fring at december 31, 20x7. Following is a selection of transactions for october 20x7 for schrader inc.
