Adjusting entries information: Using the following information, you will recoed end of month adjustments: Cash registers owned by the business: Original purchase price was $10,000 estimated useful life was 5 years, and estimated residual value was 1,000 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight-line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year. 1) Post Transaction on general journal, general ledger accounts, trial balance and make special journals for sales, purchases, cash receipts and cash payments, inventory cards. 2) Account receivable Subsidiary ledger 3) Account payable Subsidiary ledger 4) Bank reconciliation 5) End of month posting 6) Worksheet 7) Closing entries 8) Schedule of accounts 9) Adjusting entries 10) Post closing trial balance. 11) Financial statements
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