Friday, August 12, 2011

I need help with some adjusting entries for a school project?

The following is the financial data given to us: A) A total of $650 worth of advertising copy, paid and correctly charged to the Advertising Expense Account, will be received next qtr. What do I Dr. and Cr.? B)Accrued property tax on office equipment. I Dr. the property tax exp. what what do I Cr. (office equip)? C) Additional income tax expense for the period totals $2250. Dr. (Income tax exp) and Cr. (Income taxes payable)?. My adjusted trial balance is off and I am not sure why. Thought I would give this a try!

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