Santiago Company has provided data for the year-end adjustments as follows: $$\begin{array} { l r }
\text { Factory overhead to be applied to work in process ending inventory } & \$ 14,687 \
\text { Interest receivable } & 1,554 \
\text { Office supplies used } & 5,807 \
\text { Factory supplies used } & 8,611 \
\text { Provision for uncollectible accounts (based on percentage of sales) } & 11,734 \
\text { Insurance expired on factory buil ding and equipment } & 2,734 \
\text { Depreciation on factory building } & 16,490 \
\text { Depreciation on factory equipment } & 6,608
\end{array}$$
Required:
Prepare the year-end adjusting entries in general journal form.

Question

Santiago Company has provided data for the year-end adjustments as follows: $$\begin{array} { l r } 
\text { Factory overhead to be applied to work in process ending inventory } & \$ 14,687 \
\text { Interest receivable } & 1,554 \
\text { Office supplies used } & 5,807 \
\text { Factory supplies used } & 8,611 \
\text { Provision for uncollectible accounts (based on percentage of sales) } & 11,734 \
\text { Insurance expired on factory buil ding and equipment } & 2,734 \
\text { Depreciation on factory building } & 16,490 \
\text { Depreciation on factory equipment } & 6,608
\end{array}$$ ​
Required:
Prepare the year-end adjusting entries in general journal form.

Quizplus · Accepted Answer

The Answer of Santiago Company has provided data for the year-end adjustments as follows: $$\begin{array} { l r } 
\text { Factory overhead to be applied to work in process ending inventory } & \$ 14,687 \
\text { Interest receivable } & 1,554 \
\text { Office supplies used } & 5,807 \
\text { Factory supplies used } & 8,611 \
\text { Provision for uncollectible accounts (based on percentage of sales) } & 11,734 \
\text { Insurance expired on factory buil ding and equipment } & 2,734 \
\text { Depreciation on factory building } & 16,490 \
\text { Depreciation on factory equipment } & 6,608
\end{array}$$ ​
Required:
Prepare the year-end adjusting entries in general journal form.

Santiago Company Has Provided Data for the Year-End Adjustments as Follows