00:01
Adjusting journal entries needed to be done are serial number, particulars, ledger folio set to be lf, amount, debit column, amount, credit column.
00:37
So then first one is for depreciation expense.
00:41
So depreciation expense for equipment, account debit, 2, accumulated depreciation, account for equipment, amount we have is $18 ,000 on both the sides.
01:18
Next prepaid insurance.
01:23
So insurance expense, expired insurance, account debit 2, prepaid insurance, account.
01:47
Amount is evaluated as $6 ,000 wherein we subtract $1 ,100.
01:53
So we get $4 ,900 which will be written on both the sides.
02:00
Then next is for supplies.
02:03
So supplies expense, account debit, 2 supplies account.
02:19
Amount over here is evaluated as $700 wherein we subtract $300 to which we add $3 ,480.
02:28
So it is $3 ,180 which is recorded on both the sides...