PLEASE EXPLAIN!!!! will give good rating!!!! i already know the
answer is D, but why? why wouldnt it be:Homework Answers
Answer:
Option D:
DR Rent Expense $11,000; CR. Prepaid Rent $11,000
Explanation:
Entry on December 31, 2018, when rent is paid for 6 months will be :
Prepaid Rent Dr. $66,000
To Cash $66,000
And when the expense is actually accrued, we have to debit Rent Expense account and credit Prepaid Rent.
i.e.,
Rent Expense $11,000
To Prepaid Rent $11,000
So the answer is option D.
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PLEASE EXPLAIN!!!! will give good rating!!!! i already know the
answer is D, but why? why...
The answer is B, but can you please explain in detail why you debit revenue, and...
The answer is B, but can you please explain in detail why you debit
revenue, and why you credit expense and retained earnings. Thank
you so much I will give good rating for explanation
UUIU UCSI La N AMA | || 1A BI Ube XX? || ALASSES ndate To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Office to Create and Edit Buy Office or sign in to activate Office if you've already bought it. D)...
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No need explanation (just want to check my
answer)
Updated for adjustment data.
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Adjusting Journal Entries
For the Year Ended December 31, 2019
Account Titles
DR
CR
a.
Interest
Expense
15,920
Interest
Payable
15,920
b.
Insurance Expense
19,152
Prepaid
Insurance
19,152
c.
Rent
Expense
23,940
Prepaid
Rent
23,940
d.
Unearned
Revenue
12,000
Consulting Revenue
12,000
e.
Supplies
Expense
116,622
Supplies...
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The answer is B, but can you please explain in detail why you debit
revenue, and why you credit expense and retained earnings. Thank
you so much I will give good rating for explanation
UUIU UCSI La N AMA | || 1A BI Ube XX? || ALASSES ndate To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Office to Create and Edit Buy Office or sign in to activate Office if you've already bought it. D)...
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Post the transactions for June 1 - 30 to the General
Ledger. Opening balances have been provided above. Be sure to keep
running balance in each account.
Case Study Full Accounting Cycle Melissa Days and Kelly Harbor formed the Corporation Sports R Us. They sell sporting goods and give lessons. They have hired you to update their transactions for the business. They have provided you with the opening balances and a list of transactions...
please explain how to get each answer, i am very
confused
i Requirements 1. 2. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale. Prepare the schedule of cash payments for purchases for January and February 2018. Assume purchases are paid 60% in the month of purchase and 40% in the month following the purchase. Prepare the...
Q) Complete the worksheet.
No need explanation (just want to check my
answer)
Updated for adjustment data.
Adjustment Data to Update the Trial Balance a. Rent expired, $400. b. Landscaping supplies on hand (remaining), $350. c. Depreciation expense, landscaping equipment, $375. d. Wages earned by workers but not paid or due until August, $450. Adjusted Trial Balance Dr. Cr Income Statement Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cr. Landry's Landscaping Service Worksheet Month Ended July 31, 201X Trial...
Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
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Problem 4-01A a-d (Part Level Submission) The trial balance columns of the worksheet for Lampert Roofing at March 31, 2019, are as follows. Lampert Roofing Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation Equipment 1,250 Accounts Payable 2,500 Unearned Service Revenue 550 Common Stock 10,000 Retained Earnings 2,900 Dividends 1,100 Service Revenue 6,300 Salaries and Wages Expense 1,300 Miscellaneous Expense 400 23,500 23,500...
Problem 4-01A a-d (Part Level Submission) The trial balance columns of the worksheet for Lampert Roofing at March 31, 2019, are as follows. Lampert Roofing Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation-Equipment 1,250 Accounts Payable 2,500 Unearned Service Revenue 550 Common Stock 10,000 Retained Earnings 2,900 Dividends 1,100 Service Revenue 6,300 Salaries and Wages Expense 1,300 Miscellaneous Expense 400 23,500 23,500 Other...
Use the following adjusting entries to complete the
worksheet, prepare an income statement, statement of retained
earnings, closing entries, and balance sheet.
Broomfield Company
Adjusting Journal Entries
For the Year Ended December 31, 2019
Account Titles
DR
CR
a.
Interest
Expense
15,920
Interest
Payable
15,920
b.
Insurance Expense
19,152
Prepaid
Insurance
19,152
c.
Rent
Expense
23,940
Prepaid
Rent
23,940
d.
Unearned
Revenue
12,000
Consulting Revenue
12,000
e.
Supplies
Expense
116,622
Supplies...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,175 on January 1, 2019, and $52,125 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
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