Adjusting entries for Amos Company as of December 31, 2015

Adjusting entries for Amos Company as of December 31, 2015

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Additional Information:
– Prepaid insurance is for a two-year theft policy dated July 1, 2015.
– The ending inventory amounts to $300.
– The building is being depreciated over a 30-year life, straight-line, no salvage value.
– The balance in Unearned Consulting revenue pertains to a contract sold on September 1, 2015,
to provide service to a client for one year.
– At year-end, there are accrued salaries of $50.
Repair Service revenue includes a contract for $120 received on July 1, 2015 for a one year
period of time.
– The tax rate is 50%.
Required:
Make the required adjusting journal entries for the information above.

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