Q 4) Journalize the following adjusting entries assuming that the financial year ends on December 2012. 10 Marks. CLO 4 1. Supply purchased at the beginning of year is $1000. Supply on hand at the end of year is $200. 2. Insurance paid at the beginning of the year is $900. Insurance expired this year 600 3. Utility expense incurred but not paid $150 4. Accrued fees revenue not recorded 820 5. Service related to unearned service revenue worth $470 were performed. 6. Service provided for $4000 on account not recorded. 7. Merchandise of $250 was sold to Ahmed last year. This year, His account was considered uncollectible. 8. On July first, purchased machine for $3000. The depreciation rate is 10% 9. Purchased of goods for $1000 on account not recorded. 10. Loan received on April 2012 $3000 with interest rate 3%. No. Description Debit 1 Credit 2 IN 3 4 5 6 7 8 9 10

pur-new-sol

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