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3- If you have the 1,500,000 which option you prefer to do? a Put the money to bank with 3% interest b. Or investment while you can get 50,000 in the first year 4 Please make journal entry: a. Computer bought on Jan 2008 was costly 200,000 with EUL 4 years but end 2009 the EUL was changed to3 years. Company using the straight line method. b. Prepaid rent to apartment owner 5,000. Supply purchased on Jan 09, was 2,000 on credit. At the end of the month it was 500 on hand. d. Advance from client for next month service 2,500.
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Answer #1

Adjusting entries are passed at the end of accounting period for recording accrual and deferral .

Adjusting entries are

Depreciation

Accrued expense

Accrued income

Unearned revenue

Prepaid expense

Supplies expense

3) a) optim-I nceme Account tite k Explanation Debit k Explanation Debit Credil Sooo Accumulatad Depcciahm) Rent Expense Cas h sOOD Rent) Soeo Rent expeuse ES0oo c) Supplin expense B1390 Recoud consu oM supplies d)Souice Rewene $2500 2360 Aduancu clienh Recond

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