Using the following data,make the adjustments,and complete the worksheet for one month.
a.Equipment costing $750 with a residual value of $150 has an expected life of 12 months.
b.Accrued salaries of $100.
c.Supplies ledger balance $900,supplies used $400.
Definitions:
Monthly Payments
Regular payments made over a period, often referring to loan repayments, lease payments, or subscriptions that are due once per month.
Adjusted Trial Balance
A list of all accounts and their balances after adjusting entries are made, used to prepare financial statements.
Long-term Liabilities
Financial obligations of a company due after more than one year, such as bonds payable, long-term loans, and lease obligations.
Bonds Payable
These are long-term debt securities issued by companies to borrow money, with an obligation to pay interest and repay the principal at a future date.
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