Appendix 1 EX 4-27 Adjusting entries from an end-of-period spreadsheet

Based on the data in Exercise 4-24, prepare the adjusting entries for Alert Security Services Co.

Answers:

 2019

 Oct. 31 Accounts Receivable13

Fees Earned13

Accrued fees.

31 Supplies Expense4

Supplies4

Supplies used ($8 – $4).

31 Insurance Expense10

Prepaid Insurance10

Insurance expired.

31 Depreciation Expense3

Accumulated Depreciation—Equipment3

Equipment depreciation.

31 Wages Expense1

Wages Payable1

Accrued wages.