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
Homework Answers
JOURNAL ENTRIES:
| Date | Particulars | Debit | Credit |
| Jul-01 | Prepaid Insurance | 24,900 | |
| Cash | 24,900 | ||
| Dec-31 | Insurance expense | 4,150 | |
| Prepaid Insurance | 4,150 | ||
| (24,900*6/36) |
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On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter
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On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co.
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thank you On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a...
thank you
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...
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On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co.
for a 3-year insurance contract. Both companies have fiscal years
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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.)
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On
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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.)...
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thank you
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