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(Solved): Problem 4-8A Adjusting entries and closing entries LO2, 3, 5 . rock climbing, and zip-lining the A ...



Problem 4-8A Adjusting entries and closing entries LO2, 3, 5 . rock climbing, and zip-lining the Adventure Elements provides CHAPTER 4 Completing the Accounting
Required
1. Prepare the missing adjusting entries for transactions a-d.
2. Prepare an adj

Problem 4-8A Adjusting entries and closing entries LO2, 3, 5 . rock climbing, and zip-lining the Adventure Elements provides outdoor activities including ropes courses, re youth, and anyone seeking outte, company offers a unique experience for team building activities, camps for youth, and anyone seeking outdice, adventure You are the accounting manager. Your staff submitted the following trial balance for the year ended March3i] 2020. In your review, you discover the following additional information that has not been included in tis. trial balance. a. On April 2, you received the telephone bill for the month of March for \( \$ 365 \). b. On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent totye student club for \( \$ 4,250 \) due April 30 . c. On March 31 , the company held a teen's camp for \( \$ 1,840 \). All tickets had been prepaid two weeks advance. d. The equipment has an estimated useful life of 20 years. If you need to create a new account, use acovv number 606. CHAPTER 4 Completing the Accounting Required 1. Prepare the missing adjusting entries for transactions a-d. 2. Prepare an adjusted trial balance. 3. Based on your adjusted trial balance, prepare the closing entries.


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Below are the adjusting entries Date Account Dr Cr 2020-03-31 Telephone expense $365 Accounts Payable and a
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