On 1 June 2019 Cain Company a new firm paid $4300 rent in advance for


Ask a Question

On 1 June 2019 Cain Company a new firm paid $4300 rent in advance for a five month period The $4300 was debited to the Prepaid Rent account

Sale price $15.00 Regular price $30.00

On 1 June 2019 Cain Company a new firm paid $4300 rent

in advance for a five month period The $4300 was debited to the Prepaid Rent account.
-On June 1, 2019, the firm bought supplies for $7,250. The $7,250 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,950 were on hand.
-On June 1, 2019, the firm bought equipment costing $44,160. The equipment has an expected useful life of 8 years and no salvage value. The firm will use the straight-line method of depreciation.

Can you show me how to complete the end-of-June adjusting entries for Cain Company using the following columns: General Journal, Debit, and Credit
I need to complete entries for prepaid rent, supplies, and depreciation all separately.

Questions & Answers

Have a Question?

Be the first to ask a question about this.

Ask a Question