Question

Question 1 [40 points) The following information is available for Zoom Inc. on April 30 for the month just ended a Unpaid and unrecorded salaries at month-end totalled $3.500 b. A review of the $21.000 unadjusted balance in the prepaid insurance account shows a remaining balance of $14.400 at the end of the month C. 54,750 of the $6,750 rent paid to Zoom Inc. in advance has not yet been earned d. The monthly depreciation on the buildings 5410 5100 of property taxes have accrued and are unrecorded The estimated monthly depreciation on the equipment is $190. 9. Interest of $30 has accrued on a bank loan and is recorded h Future purchased at the start of the month for $7.500 is estimated to have a us e of five years. Afer this time, the future will be sold for $1.500 $500 of the rent paid in advance has expired $3,100 of the advertising paid for in advance has been published by the newspaper Prepare the required adjusting entries at April 30, 2014 Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format ddimmm Le.. January 15 would be 15Jan Search or type URL

Answer 1

Heading 2 Paragraph Styles 6 Date Apr. 30 Debit Credit Salary a) $3,500 Salary Payable $3,500 (b) Insurance Expense $14,400 Prepaid Insurance $14,400 Rent Expense $2,000 Prepaid Rent $2,000 $410 Depreciation Expense Accumulated Depreciation $410 Property Taxes $100 Accrued Property Taxes $100 $190 Depreciation Expense Accumulated Depreciation $190