Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. website portal list list question: 4 adjusting ent

Website Portal List List Question: 4 Adjusting entries GST IS NOT APPLICABLE IN THE FOLLOWING...

60.1K

Verified Solution

Question

Accounting

image
Website Portal List List Question: 4 Adjusting entries GST IS NOT APPLICABLE IN THE FOLLOWING TRANSACTIONS 30 June: Interest (GST free) revenue of $25,000 earned but not yet received or recorded 30 June: $30,000 of Depreciation of machinery is to be recorded as the amount used for the year 30 June: $76,000 of consultation fees previously received in advance from clients has now been earned i.e. provided to the clients 30 June: $12,000 of prepaid insurance has now expired. 30 June: Interest expense accrued on bank loan is $29,000 (GST free) but has not been paid. Required: Record the adjustments above at 30 June in the general journal template below, with narrations. A- EE &? APS

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students