Appendix EX 4-27 Adjusting entries from an end-of-period spreadsheet (work sheet)

Based on the data in Exercise 4-24, prepare the adjusting entries for Alert Security Services Co.


Answer:

2014 Adjusting Entries
Oct. 31 Accounts Receivable 13
Fees Earned 13
Accrued fees.
31 Supplies Expense 4
Supplies 4
Supplies used ($8 – $4).
31 Insurance Expense 10
Prepaid Insurance 10
Insurance expired.
31 Depreciation Expense 3
Accumulated Depreciation—Equipment 3
Equipment depreciation.
31 Wages Expense 1
Wages Payable 1