Three Transactions Described Below Were Completed During 2019 by Story

question 131

Essay

Three transactions described below were completed during 2019 by Story Company.
A.On June 1,2019,Story Company paid $12,600 for one year's rent beginning on that date.The rent payment was recorded as follows:
B.On February 1,2019,Story Company purchased office supplies that cost $700 and placed the supplies in a storeroom for use as needed.The purchase was recorded as follows:
C.On December 31,2019,Story Company owed employees $2,000 for wages earned during December.These wages had not been paid or recorded.
Prepare the adjusting entries as of December 31,2019,assuming no adjusting entries have been made during the year.

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Definitions:

Flower Bud

An undeveloped or embryonic shoot containing a floral meristem that eventually opens into a flower.

Protects

To shield from danger, harm, or damage through preventative measures or actions.

Double Fertilization

In flowering plants, one sperm nucleus unites with the egg nucleus, and a second sperm nucleus unites with the polar nuclei of an embryo sac.

Polar Nuclei

Cells found within the ovule of flowering plants that fuse with one sperm cell to form the endosperm, providing nutrition to the developing embryo.