ACCOUNTING 103-Depreciation on equipment is $1,340 for the accounting period

by | Mar 18, 2020 | Uncategorized

 Specifically 

1.Depreciation on equipment is $1,340 for the accounting period.
2.Interest owed on a loan but not paid or recorded is $275.
3.There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on hand.
4.Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $700 had expired.
5.Accrued salaries at the end of the period amounted to $900.

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