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Summary QuestionThe unadjusted trial balance for Sage Hill Corp. is shown below. Assume the fol $7.99
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Summary QuestionThe unadjusted trial balance for Sage Hill Corp. is shown below. Assume the fol
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The unadjusted trial balance for Sage Hill CorpQuestionThe unadjusted trial balance for Sage Hill Corp. is shown below. Assume the following adjustment data. 1. Supplies on hand at October 31 total $550. 2. Expired insurance for the month is $110. 3. Depreciation for the month is $90. 4. As o...

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  • October 13, 2024
  • 4
  • 2024/2025
  • Summary

Subjects

  • the unadjusted trial balance for sage hill corpï
  • services worth 880 related to the previously rec
  • 540 prepare a tabular summary to record adjustmen
  • we need to adjust the accounts based on the given

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Question


The unadjusted trial balance for Sage Hill Corp. is shown below. Assume the

following adjustment data. 1. Supplies on hand at October 31 total $550. 2.

Expired insurance for the month is $110. 3. Depreciation for the month is $90.

4. As of October 31, services worth $880 related to the previously recorded

unearned revenue had been performed. 5. Services performed but unbilled (and

no receivable has been recorded) at October 31 are $314. 6. Interest expense

accrued at October 31 is $71. 7. Accrued salaries at October 31 are $1,540.

Prepare a tabular summary to record adjustments for the items above using the

summary that follows.




Answer & Explanation


To prepare a tabular summary for the adjustments, we need to adjust the

accounts based on the given data. Here's how each adjustment affects the

accounts:


1. Supplies on Hand:

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