30) On December 31, 2011, the unadjusted trial balance shows Supplies of $800. However, only $100 of supplies remains. Prepare the adjusting journal entry at December 31, 2011.
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31) On January 1, 2011, Vango,Inc. bought a delivery van that cost $25,000, expecting to use the van for five years with no residual value. Prepare the adjusting journal entry at December 31, 2011 to record one year's use of the van, using straight-line depreciation.
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32) On December 31, 2011, the unadjusted trial balance for Tim's Ware, Inc. shows Prepaid rent of $1,200. This represents the amount the company paid in August for a one-year lease effective September 1, 2011. Tim's Ware does not prepare monthly financial statements, so it makes adjusting entries only once a year. Prepare the adjusting journal entry at December 31, 2011.
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33) On November 1, 2011, Miracles, Inc. borrowed $30,000 on 12% note with both interest and principal due on May 1, 2012. Prepare the adjusting entry to record interest for the year ended December 31, 2011.
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34) On September 1, 2011, Miracles, Inc. borrowed $30,000 on 12% note with both interest and principal due on June 1, 2012. Post the adjusting entry for the year ended December 31, 2011 in the T-accounts below: