Journalize the Adjusting Entries Needed on December 31,2015 for Kaimann

question 47

Essay

Journalize the adjusting entries needed on December 31,2015 for Kaimann Industries using the following data.Explanations are not required.
A.The balance in the Supplies account before adjustment is $5,000.A physical count reveals $2,750 of supplies on hand at December 31.
B.A computer was purchased on January 1,2015 for $15,000.The computer has a useful life of 3 years and is depreciated using the straight-line method.
C.A one-year insurance policy costing $6,000 was purchased on November 1,2015.
D.Employee salaries are owed for 4 days of a regular 5 day work week.Weekly payroll is $15,000.
E.Unearned Maintenance Revenue has a balance of $22,000 before adjustment.Records show that $14,000 of that amount has been earned by December 31.

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Definitions:

Periodontitis

A severe gum infection that damages the soft tissue and destroys the bone that supports your teeth.

Gingivitis

An inflammation of the gums, typically caused by a bacterial infection, which can lead to redness, swelling, and bleeding.

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Also known as baby or milk teeth, these are the first set of teeth in human development, which are eventually replaced by permanent teeth.

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A blood vein that carries nutrients from the gastrointestinal tract and spleen to the liver for processing.