MANAGEMENT ACC 1094-The following information is available for

MANAGEMENT ACC 1094-The following information is available for Fox Fixtures

Subject: Business    / Accounting
Question
The following information is available for Fox Fixtures on November 30 for the year just
ended.
a. Of the $6,600 consulting fees Fox Fixtures received in advance, $5,100 has not
yet been earned.
b. Buildings purchased in a previous year for $59,250 will be sold after ten years for
$12,250.
c. A review of the $1,300 unadjusted balance in the supplies account shows a
balance on hand at the end of the year of $800.
d. A review of the $23,000 unadjusted balance in the prepaid rent account shows a
remaining balance of $18,250 at the end of the year.
e. This year’s advertising bill for $8,500 is unrecorded and unpaid.

Prepare the required adjusting entries at November 30, 2014.
Enter the transaction letter as the description when entering the transactions in the
journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be
15/Jan). For each journal entry, indicate how each account affects the balance sheet
(Assets, Liabilities, Equity). Use + for increase and – for decrease. For example, if an
account decreases equity, choose ‘-Equity’.
General Journal Page G8 Date Account/Explanation PR Debit Credit Effect On Balance Sheet Please solve this question for soon.