Adjusting Entries

CASE 2 Adjusting Entries

Submission of this assignment is made under the terms of our academic integrity code.

Team: ___

Each adjustment is worth 3 points. There is no partial credit for individual entries. The summary table at the end is worth 8 points. The case is worth 50 points.

You are presented with the following information for Little Co. Consider all situations independently. The company has a 12/31 year end and each item should be considered as a possible adjusting entry. Please present each adjusting entry as you deem necessary in good form followed by a brief explanation.

A1: The bank statement indicates that a check you recorded for 600 for a payment to your vendor cleared the bank for 6,000. You made the...