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Solved paper 32027

The following information for StationProducts is available o. The following information for StationProducts is available on June 30, 2014, the end of a monthly accounting period.Prepare the necessary adjusting journal entries for Station Products for themonth of June for each situation given. Adjusting entries are recorded at theend of every quarter prior to the preparing financial statements. You may omitjournal entry explanations. A. Station purchased a 1-yearinsurance policy on June 1, 2014, and debited an asset account for $3,600.B. On May 1, 2014, a tenant in anoffice building owned by Station Products paid $6,600, which represents threemonths rent in advance. The amount received was credited to the Unearned RentRevenue account.C. OnJune 1, 2014, the balance in the Supplies account was $420. During June, officesupplies costing $840 were purchased and half was paid in cash, with thebalance on account. A physical count of office supplies at June 30 revealedthat there was $125 of supplies still on hand.D. On March 31, 2014, StationProducts purchased equipment for $30,000. The company calculated annual depreciationto be $6,000.E. Station Products has 7employees who earn $120 per day, and 3 employees who earn $200 per day,respectively. Employees are paid each Friday for a five-day work week thatbegins each Monday. June 30 is a Thursday. The following information for StationProducts is available o


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