Prepare Adjusting Entries for the Following Transactions

question 35

Essay

Prepare adjusting entries for the following transactions. Omit explanations.
1. Depreciation on equipment is $1,050. 2. Interest incurred and owed on a loan but not paid or recorded is $275. 3. There was a beginning balance of supplies of $120 and the company purchased $400 of office supplies during the period. At the end of the year $70 of supplies were on hand. 4. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $400 had expired. 5. Accrued salaries at year end were $1,100.

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Definitions:

Objective Data

Information in healthcare that is measurable and observable by healthcare providers, differing from subjective data provided by the patient's personal experience of symptoms.

Discharge Summary

A document that summarizes a patient's hospital stay, including the reason for admission, course of treatment, condition at discharge, and instructions for follow-up care.

Evidence-Based

An approach to decision-making in healthcare that involves the integration of best current research evidence with clinical expertise and patient values.

Electronic Searches

The process of using digital platforms and databases to locate information or research material.