pays 23,000 to ins co for 3 yr contract. journalize and post adjusting enrties how to...
Homework Answers
1) Dr. Prepaid Insurance $23,000
Cr. Bank/ cash $23,000
(prepaid insurance is paid)
Dr. Insurance expense $7667
Cr. Prepaid Insurance $7667
2) Dr. Cash $23,000
Cr. Notes payable $23,000
Dr. Interest Expense $1188
Cr. Interest payable $1188
(9900 * 12%)
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pays 23,000 to ins co for 3 yr contract. journalize and post
adjusting enrties
how
to...
On July 1, 2022, Sandhill Co. pays $23,000 to Blossom Company for a 1-year insurance contract....
On July 1, 2022, Sandhill Co. pays $23,000 to Blossom Company for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Blossom Company. Blossom uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles...
pay 23,100 for 3 year ins contract post entry how to apply to unearned service revenue
pay 23,100 for 3 year ins contract post entry how to apply to unearned service revenue
On July 1, 2022. Carla Vista Co. pays $14,632 to Sandhill Co. for a 2-year insurance contract
On July 1, 2022. Carla Vista Co. pays $14,632 to Sandhill Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Sandhill Co. Sandhill uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Post the entry on July 1 and...
On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3-year...
On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Splish Brothers Inc., journalize and post the entry on July 1 and the annual adjusting entry on December 31. post the journal entry
need help with be3-6 BE3-6 Using the data in BE3-5, journalize and post the entry on...
need help with be3-6
BE3-6 Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue. BE3-5 On July 1, 2017, Major Co. pays $15,120 to Cruz Insurance Co. for a 3-year insur- ance contract. Both companies have fiscal years ending December 31. For Major Co., jour- nalize and post the entry on July 1 and the...
On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a 3-year insurance...
On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co.
for a 3-year insurance contract. Both companies have fiscal years
ending December 31. Journalize and post the entry on July 1 and the
adjusting entry on December 31 for Kalter Insurance Co. Kalter uses
the accounts Unearned Service Revenue and Service Revenue. (Credit
account titles are automatically indented when the amount is
entered. Do not indent manually. Record journal entries in the
order presented in the problem.)
Brief Exercise 3-5 On July 1, 2015, Dobbs Co. pays $18,600 to Kalter Insurance Co. for...
Brief Exercise 3-5 On July 1, 2015, Dobbs Co. pays $18,600 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Dobbs Co., journalize and post the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 - July 1 Prepaid Insurance Insurance Expense
On July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance Co. for a 3-year...
On
July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance
Co. for a 3-year insurance contract. Both companies have fiscal
years ending December 31. Journalize and post the entry on July 1
and the adjusting entry on December 31 for Kalter Insurance Co.
Kalter uses the accounts Unearned Service Revenue and Service
Revenue. (Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)...
On July 1, 2017, Sandhill Co. pays $16,500 to Pharoah Company for a 2-year insurance contract....
On July 1, 2017, Sandhill Co. pays $16,500 to Pharoah Company
for a 2-year insurance contract. Both Companies have fiscal years
ending December 31.
a) Journalize the entry on July 1 and the adjusting entry on
December 31 for Pharoah Company. Pharoah uses the accounts Unearned
Service Revenue and Service Revenue.
(Record journal entries in the order presented in
the problem. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit...
Brief Exercise 3-06 On July 1, 2019, Oriole Co. pays $19,500 to Sheffield Insurance Co, for...
Brief Exercise 3-06 On July 1, 2019, Oriole Co. pays $19,500 to Sheffield Insurance Co, for a 4-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Sheffield Insurance Co. Sheffield uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in...
On July 1, 2022, Sandhill Co. pays $23,000 to Blossom Company for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Blossom Company. Blossom uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles...
need help with be3-6
BE3-6 Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue. BE3-5 On July 1, 2017, Major Co. pays $15,120 to Cruz Insurance Co. for a 3-year insur- ance contract. Both companies have fiscal years ending December 31. For Major Co., jour- nalize and post the entry on July 1 and the...
On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co.
for a 3-year insurance contract. Both companies have fiscal years
ending December 31. Journalize and post the entry on July 1 and the
adjusting entry on December 31 for Kalter Insurance Co. Kalter uses
the accounts Unearned Service Revenue and Service Revenue. (Credit
account titles are automatically indented when the amount is
entered. Do not indent manually. Record journal entries in the
order presented in the problem.)
Brief Exercise 3-5 On July 1, 2015, Dobbs Co. pays $18,600 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Dobbs Co., journalize and post the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 - July 1 Prepaid Insurance Insurance Expense
On
July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance
Co. for a 3-year insurance contract. Both companies have fiscal
years ending December 31. Journalize and post the entry on July 1
and the adjusting entry on December 31 for Kalter Insurance Co.
Kalter uses the accounts Unearned Service Revenue and Service
Revenue. (Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)...
On July 1, 2017, Sandhill Co. pays $16,500 to Pharoah Company
for a 2-year insurance contract. Both Companies have fiscal years
ending December 31.
a) Journalize the entry on July 1 and the adjusting entry on
December 31 for Pharoah Company. Pharoah uses the accounts Unearned
Service Revenue and Service Revenue.
(Record journal entries in the order presented in
the problem. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit...
Brief Exercise 3-06 On July 1, 2019, Oriole Co. pays $19,500 to Sheffield Insurance Co, for a 4-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Sheffield Insurance Co. Sheffield uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in...
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