Homework Answers
| Adjustment | Date | Account Titles | Debit | Credit |
| $ | $ | |||
| 1. | July 31, 2019 | Insurance Expense [ $ 10,080 / ( 4 x 12 ) ] | 210 | |
| Prepaid Insurance | 210 | |||
| Adjusting entry for insurance expense for July 2019 | ||||
| 2. | Dec 31, 2019 | Advertising Expense [ $ 43,560 / ( 3 x 12) ] | 1,210 | |
| Prepaid Advertising | 1,210 | |||
| To record advertising expense for December 2019 |
Add Answer to:
se 6 Help S a four-year insurance policy for $10,080 on July 1, 2019. The $10,080...
1. A firm purchased a four-year insurance policy for $10,080 on July 1, 2019. The $10,080...
1. A firm purchased a four-year insurance policy for $10,080 on July 1, 2019. The $10,080 was debited to the Prepaid Insurance account 2. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a three-year period The firm paid $43,560 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. Prepare the adjusting entry for advertising. Note: Enter debits before...
1. A firm purchased a four-year insurance policy for $15,840 on July 1, 2019. The $15,840...
1. A firm purchased a four-year insurance policy for $15,840 on July 1, 2019. The $15,840 was debited to the Prepaid Insurance account 2 On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a three-year period The firm paid $47.880 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet < 1 2 Prepare...
1. A firm purchased a two-year insurance policy for $4,800 on July 1, 2019. The $4,800...
1. A firm purchased a two-year insurance policy for $4,800 on July 1, 2019. The $4,800 was debited to the Prepaid Insurance account. 2. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a one-year period. T firm paid $14,400 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet Prepare the adjusting entry...
1. A firm purchased a three-year insurance policy for $11,520 on July 1, 2019. The $11,510...
1. A firm purchased a three-year insurance policy for
$11,520 on July 1, 2019. The $11,510 was debited to the Prepaid
Insurance account.
2. On December 1, 2019, a firm signed a contract with
local radio station for advertising that will extend over a
two-year period. The firm paid $31,680 in advance and debited the
amount to Prepaid Advertising.
Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet < 1 2 Prepare the...
Super E.. Gradable Assignment i Savod Help Save & Ex Chec Exercise 5.1 Calculating adjustments. LO...
Super E.. Gradable Assignment i Savod Help Save & Ex Chec Exercise 5.1 Calculating adjustments. LO 5-2 1. On June 1, 2019, Cain Company, a new firm, paid $6,580 rent in advance for a seven-month period. The $6,580 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,650. The $7,650 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,150 were on...
Che a. On December 31, 2019, the Notes Payable account at Northwood Manufacturing Company had a...
Che a. On December 31, 2019, the Notes Payable account at Northwood Manufacturing Company had a balance of $10,500. This balance represented a three-month, 10 percent note issued on November 1 b. On January 2, 2019, Hitech Computer Consultants purchased flash drives, paper, and other supplies for $6.440 in cash. On December 31, 2019, an inventory of supplies showed that items costing $1,680 were on hand. The Supplies account has a balance of $6,440 c. On September 1, 2019, North...
Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,400 (supplies totaling...
Desoto Company must make three adjusting entries on December 31,
2019.
Supplies used, $10,400 (supplies totaling $16,800 were
purchased on December 1, 2019, and debited to the Supplies
account).
Expired insurance, $7,600; on December 1, 2019, the firm paid
$45,600 for six months’ insurance coverage in advance and debited
Prepaid Insurance for this amount.
Depreciation expense for equipment, $5,200.
Required:
Prepare the journal entries for these adjustments and post the
entries to the general ledger accounts
We were unable to...
Determine the account and amount to be debited and the account and amount to be credited...
Determine the account and amount to be debited and the account and amount to be credited for the following adjustment. Equipment purchased for $65.000 on January 3, 2019. has an estimated life of 6 years and an estimated salvage value of $3.800. The firm uses the straight-line method of depreciation. Determine the adjustment for the month ended January 31, 2019. View transaction list Journal entry worksheet 1 Record adjusting entry for depreciation. Note: Enter debits before credits General Journal Debit...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,500 (supplies...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,500 (supplies totaling $17,000 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7700; on December 1, 2019, the firm paid $46,200 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount c. Depreciation expense for equipment, $5,300 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. 2. On December 1, 2021, the company pays a local radio station $2,220 for 30 radio ads that were to be aired, 10 per month throughout December, January, and February. Prepaid Advertising is debited. 3. Employee salaries for the month of December totaling $6.400 will be...
1. A firm purchased a four-year insurance policy for $10,080 on July 1, 2019. The $10,080 was debited to the Prepaid Insurance account 2. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a three-year period The firm paid $43,560 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. Prepare the adjusting entry for advertising. Note: Enter debits before...
1. A firm purchased a four-year insurance policy for $15,840 on July 1, 2019. The $15,840 was debited to the Prepaid Insurance account 2 On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a three-year period The firm paid $47.880 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet < 1 2 Prepare...
1. A firm purchased a two-year insurance policy for $4,800 on July 1, 2019. The $4,800 was debited to the Prepaid Insurance account. 2. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a one-year period. T firm paid $14,400 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet Prepare the adjusting entry...
1. A firm purchased a three-year insurance policy for
$11,520 on July 1, 2019. The $11,510 was debited to the Prepaid
Insurance account.
2. On December 1, 2019, a firm signed a contract with
local radio station for advertising that will extend over a
two-year period. The firm paid $31,680 in advance and debited the
amount to Prepaid Advertising.
Prepare end-of-month adjusting entries for each of the above situations. View transaction list Journal entry worksheet < 1 2 Prepare the...
Super E.. Gradable Assignment i Savod Help Save & Ex Chec Exercise 5.1 Calculating adjustments. LO 5-2 1. On June 1, 2019, Cain Company, a new firm, paid $6,580 rent in advance for a seven-month period. The $6,580 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,650. The $7,650 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,150 were on...
Che a. On December 31, 2019, the Notes Payable account at Northwood Manufacturing Company had a balance of $10,500. This balance represented a three-month, 10 percent note issued on November 1 b. On January 2, 2019, Hitech Computer Consultants purchased flash drives, paper, and other supplies for $6.440 in cash. On December 31, 2019, an inventory of supplies showed that items costing $1,680 were on hand. The Supplies account has a balance of $6,440 c. On September 1, 2019, North...
Desoto Company must make three adjusting entries on December 31,
2019.
Supplies used, $10,400 (supplies totaling $16,800 were
purchased on December 1, 2019, and debited to the Supplies
account).
Expired insurance, $7,600; on December 1, 2019, the firm paid
$45,600 for six months’ insurance coverage in advance and debited
Prepaid Insurance for this amount.
Depreciation expense for equipment, $5,200.
Required:
Prepare the journal entries for these adjustments and post the
entries to the general ledger accounts
We were unable to...
Determine the account and amount to be debited and the account and amount to be credited for the following adjustment. Equipment purchased for $65.000 on January 3, 2019. has an estimated life of 6 years and an estimated salvage value of $3.800. The firm uses the straight-line method of depreciation. Determine the adjustment for the month ended January 31, 2019. View transaction list Journal entry worksheet 1 Record adjusting entry for depreciation. Note: Enter debits before credits General Journal Debit...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,500 (supplies totaling $17,000 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7700; on December 1, 2019, the firm paid $46,200 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount c. Depreciation expense for equipment, $5,300 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,100 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. 2. On December 1, 2021, the company pays a local radio station $2,220 for 30 radio ads that were to be aired, 10 per month throughout December, January, and February. Prepaid Advertising is debited. 3. Employee salaries for the month of December totaling $6.400 will be...
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 1 hour ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 1 hour ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 1 hour ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 1 hour ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 1 hour ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 1 hour ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 1 hour ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 1 hour ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 2 hours ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 2 hours ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 2 hours ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 2 hours ago