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a) If the amount in Supplies Expense is the January 31 adjusting
entry, and $670 of supplies was purchased in January, what was the
balance in Supplies on January 1? ............
b) If the amount in Insurance Expense is the January 31 adjusting
entry, and the original insurance premium was for one year, what was
the total premium and when was the policy purchased? ............
c)
If $3,300 of salaries was paid in January, what was the balance
in Salaries and Wages Payable at December 31, 2013? ............
P3-2A : Lazy River Resort opened for business on June 1 with eight
air-conditioned units. Its trial balance before adjustment on August 31
is as follows.
a) Journalize the adjusting entries on August 31 for the 3-month
period June 1–August 31. ............
b)
Prepare a ledger using the three-column form of account. Enter
the trial balance amounts and post the adjusting entries............
c)

Prepare an adjusted trial balance on August 31. ............

d) Prepare an income statement for the 3 months ending August 31.
............
e)
Prepare a retained earnings statement for the 3 months ending
August 31............
f)

Prepare a balance sheet as of August 31............

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ACC 557 Week 3 Assignment 1 Review of Accounting Ethics
(2 Paper)