Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam
- Accrued interest on notes receivable is $30.
- $1,000 of unearned service revenue has been recognized.
- Three years’ rent, totaling $45,000, was paid in advance at the beginning of the year.
- Services totaling $2,900 had been performed but not yet billed at the end of the year.
- Depreciation on equipment totaled $6,500 for the year.
- Supplies purchased totaled $850. By year end, only $250 of supplies remained.
- Salaries owed to employees at the end of the year total $960.
Course: MGMT 30A – Principles of Accounting I
Assignment: Midterm 1 Practice Exam
School: University of California, Irvine