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a. Introduction to Financial Accounting BUSI 1043 Learning Activity 2 -4% - 100 marks Q1: Write the adjusting journal en
Posted: Mon May 02, 2022 7:01 am
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- A Introduction To Financial Accounting Busi 1043 Learning Activity 2 4 100 Marks Q1 Write The Adjusting Journal En 1 (47.07 KiB) Viewed 41 times
a. Introduction to Financial Accounting BUSI 1043 Learning Activity 2 -4% - 100 marks Q1: Write the adjusting journal entries for Lion Corp. on Dec 31, 2021, for the below situations. 60 marks Lion Corp. paid rent in advance $16,000, on Aug 1, 2021 for the next 12 months. b. Lion Corp. purchased a building on Jan 1, 2021 for $275,000 with useful life of 20 years. Write the depreciation journal entry for 2021. The Supplies account had a balance of $270 at the beginning of the year and additional supplies purchased during the year was for $250. On Dec 31, 2021 supplies on hand is $135. Account Debit Credit C.