Hakik Enterprises offers rug cleaning services to business clients. Below is the work sheet containing the trial balance for the month ended July 31, 2012.
Enter the adjustments in the work sheet based on the data provided below. Then enter the adjusted account balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Question

Hakik Enterprises offers rug cleaning services to business clients. Below is the work sheet containing the trial balance for the month ended July 31, 2012.
  Enter the adjustments in the work sheet based on the data provided below. Then enter the adjusted account balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Quizplus · Accepted Answer

The Answer of Hakik Enterprises offers rug cleaning services to business clients. Below is the work sheet containing the trial balance for the month ended July 31, 2012.
  Enter the adjustments in the work sheet based on the data provided below. Then enter the adjusted account balances in the Adjusted Trial Balance columns.
a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one month's depreciation.
b) Accrued wages, $2.
c) Unused supplies on hand, $8.
d) Of the unearned revenue, 75% has been earned.
e) Unexpired insurance remaining at the end of the month, $9.

Hakik Enterprises Offers Rug Cleaning Services to Business Clients