Prepare Adjusting Entries for the Following Transactions

question 280

Essay

Prepare adjusting entries for the following transactions. Omit explanations.
1. Depreciation on equipment is €800 for the accounting period.
2. There was no beginning balance of supplies and purchased €700 of office supplies during the period. At the end of the period €100 of supplies were on hand.
3. Prepaid rent had a €1,000 normal balance prior to adjustment. By year end €800 was unexpired.

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Definitions:

Snake Goddess

A figurine or symbol observed in Minoan civilization, representing a deity or priestess associated with snakes, possibly indicative of regeneration, fertility, or protection.

Faience

A low-fired opaque glasslike silicate.

Linear B Tables

Ancient clay tablets used by the Mycenaean Greeks, featuring a script that is an early form of Greek written in a syllabary.

Administrative Recordkeeping

The systematic management of records and documents by organizations or governments for the purpose of ensuring accuracy, efficiency, and accountability.