Homework Answers
| Number | Account | Debit | Credit |
|---|---|---|---|
| 1 | Supplies Expense | 1700 | |
| Supplies | 1700 | ||
| 2 | Insurance expense | 200 | |
| Prepaid Insurance | 200 | ||
| (4,800 * 1/24 months) | |||
| 3 | Depreciation expense -office equipment | 500 | |
| Accumulated Depreciation - office equipment | 500 | ||
| (6,000/12) | |||
| 4 | Unearned rent revenue | 700 | |
| Rent revenue | 700 | ||
| 5 | Interest expense | 500 | |
| Interest payable | 500 |
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Prepare the following adjusting entries for the month ended September 30th in the template provided below....
PROBLEM 3-ADJSTING ENTRIES Scotsman Company prepares QUARTELY (3-months) financial statements. Below are listed some selected accounts...
PROBLEM 3-ADJSTING ENTRIES Scotsman Company prepares QUARTELY (3-months) financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the quarter of July 1 to September 30. SCOTSMAN COMPANY Trial Balance (Selected Accounts) September 30, 2020 Debit Credit Office Supplies........................................................................................... $ 2,700 Prepaid Insurance...................................................................................... 4,200 Office Equipment........................................................................................ 30,000 Accumulated Depreciation—Office Equipment.............................................. $3,000 Note Payable……………………………………………….................................. 5,000 Unearned Rent Revenue............................................................................. 1,300 (Note: Debit column does not equal credit column because this is a partial listing of...
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Credit Debit...
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
prepare adjusting entries for the month of june according to jpg 30 is as follows. Azhar...
prepare adjusting entries for the month of june according to
jpg
30 is as follows. Azhar started his own consulting firm, Azhar Consulting Company, on June 1, 2013. The trial balance at June Azhar Consulting Company Trial Balance June 30, 2013 Account Titles Debit (Tk.) Credit (TK. Cash 10,000 Accounts Receivable 6,000 Prepaid Insurance 3,000 Supplies 2,000 Office Equipment 15,000 Accounts Payable 4,500 Uneamed Service Revenue 4.000 Capital 24,600 Service Revenue 7.900 Salaries Expense 4,000 Rent Expense 1.000 41,000 41.000...
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.
The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared CreditDebitSupplies$8,100Prepaid insurance9,720Equipment67,500Accumulated Depreciation-Equipment$22,680Notes Payable54,000Unearned Rent Revenue33,480Rent Revenue162,000Interest Expense0Salaries and Wages Expense37,800An analysis of the accounts shows the following 1. The equipment depreciates $756 per month 2. Half of the uneared rent revenue was earned during the quarter 3. Interest of $1,080 is accrued on the notes payable 4. Supplies on hand total $2,295. 5. Insurance expires at the rate of $1,080 per...
3. Kidman Company prepares monthly financial statements. Below are listed some selected accounts and their balances...
3. Kidman Company prepares monthly financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the month of September. (10 MIN / 10 Points) KIDMAN COMPANY Trial Balance (Selected Accounts) September 30, 2020 Debit Credit Supplies $3,200 Prepaid Insurance. 3,600 Equipment.... 16,200 Accumulated Depreciation-Equipment $1,000 Unearned Sales Revenue. 1,200 (Note: Debit column does not equal credit column because this is a partial listing of selected account...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1850 b. The Supplies account has a balance of $5,000. Supplies on hand at the end of the period totaled $2,500, c On the date for preparing financial statements, an estimated utilities expense of $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for...
prepare adjusting entries at March 31, assuming that adjusting entries are made quarterly. Disaussions View Policies...
prepare adjusting entries at March 31, assuming that
adjusting entries are made quarterly.
Disaussions View Policies Current Attempt in Progress Conferences Collaborations The ledger of Carla Vista Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. WileyPLUS Support Debit Credit Prepaid Insurance $12,600 Supplies 2,700 Equipment 31,250 Accumulated Depreciation-Equipment $8,000 Notes Payable 21,000 Unearned Rent Revenue 9,600 Rent Revenue 61,000 Interest Expense Salaries and Wages Expense 13,000 An...
adjusting entries Prepare only the adjusting entries for the month of June based on the following...
adjusting entries
Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful life of 4 years with no estimated value at the end of 4 years. 2. A loan of $36,000 was taken out on June 1st. The loan is to be repaid in 24 months including interest at 5% annually. 3. $1,350 of office supplies was purchased during June; at the end of June $840 of...
Record Journal entries for the month ended June 30th 2015(adjusting entries are provided) Chart of Accounts:...
Record Journal entries for the month ended
June 30th 2015(adjusting entries are provided)
Chart of Accounts: No. Account Cash Accounts Receivable No. 101 106 Account Guiding Revenue Store Sales 403 404 Fly Rod Inventory Supplies for guides Prepaid Insurance Prepaid Rent Trucks Rafts Accumulated Depreciation - Accumulated Depreciation- Accounts Payable Wages Payable Interest Payable Unearned Guiding Revenue Notes Payable Common Stock, $5 par value Retained Earnings Dividends 119 125 128 131 153 155 163 165 201 210 212 236 240...
The ledger of Piper Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared
The ledger of Piper Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $ 3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation—Equipment $ 8,400 Notes Payable 20,000 Unearned Rent 9,900 Rent Revenue 60,000 Interest Expense –0– Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent was earned during the quarter. 3....
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
prepare adjusting entries for the month of june according to
jpg
30 is as follows. Azhar started his own consulting firm, Azhar Consulting Company, on June 1, 2013. The trial balance at June Azhar Consulting Company Trial Balance June 30, 2013 Account Titles Debit (Tk.) Credit (TK. Cash 10,000 Accounts Receivable 6,000 Prepaid Insurance 3,000 Supplies 2,000 Office Equipment 15,000 Accounts Payable 4,500 Uneamed Service Revenue 4.000 Capital 24,600 Service Revenue 7.900 Salaries Expense 4,000 Rent Expense 1.000 41,000 41.000...
3. Kidman Company prepares monthly financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the month of September. (10 MIN / 10 Points) KIDMAN COMPANY Trial Balance (Selected Accounts) September 30, 2020 Debit Credit Supplies $3,200 Prepaid Insurance. 3,600 Equipment.... 16,200 Accumulated Depreciation-Equipment $1,000 Unearned Sales Revenue. 1,200 (Note: Debit column does not equal credit column because this is a partial listing of selected account...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1850 b. The Supplies account has a balance of $5,000. Supplies on hand at the end of the period totaled $2,500, c On the date for preparing financial statements, an estimated utilities expense of $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for...
prepare adjusting entries at March 31, assuming that
adjusting entries are made quarterly.
Disaussions View Policies Current Attempt in Progress Conferences Collaborations The ledger of Carla Vista Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. WileyPLUS Support Debit Credit Prepaid Insurance $12,600 Supplies 2,700 Equipment 31,250 Accumulated Depreciation-Equipment $8,000 Notes Payable 21,000 Unearned Rent Revenue 9,600 Rent Revenue 61,000 Interest Expense Salaries and Wages Expense 13,000 An...
adjusting entries
Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful life of 4 years with no estimated value at the end of 4 years. 2. A loan of $36,000 was taken out on June 1st. The loan is to be repaid in 24 months including interest at 5% annually. 3. $1,350 of office supplies was purchased during June; at the end of June $840 of...
Record Journal entries for the month ended
June 30th 2015(adjusting entries are provided)
Chart of Accounts: No. Account Cash Accounts Receivable No. 101 106 Account Guiding Revenue Store Sales 403 404 Fly Rod Inventory Supplies for guides Prepaid Insurance Prepaid Rent Trucks Rafts Accumulated Depreciation - Accumulated Depreciation- Accounts Payable Wages Payable Interest Payable Unearned Guiding Revenue Notes Payable Common Stock, $5 par value Retained Earnings Dividends 119 125 128 131 153 155 163 165 201 210 212 236 240...
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