Everest Furniture Trading Inc. has provided you with the following transactions for one year. You...
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Accounting
Everest Furniture Trading Inc. has provided you with the following transactions for one year. You are required to prepare adjusting entries for the year ending 2019, a. Rent of AED 180.000 was paid for three years on June 1, 2019, b. Beginning balance of office supplies was AED 12.800. The year-end count showed that office supplies worth AED 1,080 were left on hand c. Salaries accrued but not paid to employees as of December 31 amounted to AED 14,000 d. The company borrowed money on a note payable on August 1, 2019 for AED 70,000 and interest is charged at a rate of 3 per year. Interest has not been paid yet. e. The company purchased an equipment for AED 120.000 on July 1, 2019. The equipment will be depreciated 15.000 every year for 4 years. You should copy (Ctrl-c) and poste (Ctrl-v) the template below into your answer space and complete with the necessary information
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