prepare the december 31 adjustment entries from the following information 654840

Adjusting Entries.

Prepare the December 31 adjustment entries from the following information:

1. The company’s inventory of office supplies on November 30 was Rs.2,850. The company bough supplies costing Rs.4,710 in December. The inventory of office supplies on December 31 totalled Rs.1,930.
2. The company paid rent for 6 months at Rs.2,500 per month in advance on December 1 and charged it to Prepaid Rent.
3. The company had not paid the December salary of Rs.4,900 at the month end.
4. On December 9, a customer paid an advance of Rs.9,300 for future services. The Company provided services worth Rs.7,100 to the customer in December.
5. The company made a 3 year bank deposit of Rs.20,000 on December 1. The deposited carried interest at 12% per annum.
6. The company bought equipment costing Rs.13,000 on November 1. The equipment had an estimated useful life of 10 years, at the end of which it was expected to fetch Rs.1,000.
7. Income tax payable for the year is estimated at Rs.2,100.