Griesbach, Inc

Question 104

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Griesbach, Inc., prepares monthly financial statements. The September 30, 2012, trial balance reveals the following:
Griesbach, Inc., prepares monthly financial statements. The September 30, 2012, trial balance reveals the following:    An inventory of supplies reveals that only $675 are on hand at the end of the month. Of the unearned rent revenue, $600 remains unearned. The note payable was taken out on September 1, 2012, for 12 months, at 10%. Lastly, the weekly payroll is $3,600. Employees are paid each Friday for a 5-day work week, and September 30 is a Wednesday. Assuming Griesbach, Inc. has a year end of September 30, prepare the appropriate adjusting journal entries.
An inventory of supplies reveals that only $675 are on hand at the end of the month. Of the unearned rent revenue, $600 remains unearned. The note payable was taken out on September 1, 2012, for 12 months, at 10%. Lastly, the weekly payroll is $3,600. Employees are paid each Friday for a 5-day work week, and September 30 is a Wednesday.
Assuming Griesbach, Inc. has a year end of September 30, prepare the appropriate adjusting journal entries.

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