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.
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1. A firm purchased a three-year insurance policy for
$11,520 on July 1, 2019. The $11,510...
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 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 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...
se 6 Help S a four-year insurance policy for $10,080 on July 1, 2019. The $10,080...
se 6 Help S a four-year insurance policy for $10,080 on July 1, 2019. The $10,080 was debited to the Prepaid Insurance 1. A firm purchased 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. Journal entry worksheet Prepare the adjusting...
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...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7,300; on December 1, 2019, the firm paid $43,800 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $4,900 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
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...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
Buzzard Bicycle specializes in custom painting and design of bicycles. December 31 is the company's fiscal...
Buzzard Bicycle specializes in custom painting and design of bicycles. December 31 is the company's fiscal year-end. Information necessary to prepare the year-end adjusting entries appears below. 5 points Skipood 1. A three-year fire insurance policy was purchased on July 1, 2021, for $22,500. The company debited Prepaid Insurance for the entire amount. 2. Employee salaries of $28,000 for the month of December will be paid in early January 3. On November 1, 2021, the company received $10,500 in cash...
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements...
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. 1. On December 1, 2020, the company paid its annual fire insurance premium of $2,800 for the year beginning December 1 and debited prepaid insurance 2. On August 31, 2020, the company borrowed $42,500 from a local bank. The note requires principal and...
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 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 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...
se 6 Help S a four-year insurance policy for $10,080 on July 1, 2019. The $10,080 was debited to the Prepaid Insurance 1. A firm purchased 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. Journal entry worksheet Prepare the adjusting...
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...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7,300; on December 1, 2019, the firm paid $43,800 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $4,900 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
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...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
Buzzard Bicycle specializes in custom painting and design of bicycles. December 31 is the company's fiscal year-end. Information necessary to prepare the year-end adjusting entries appears below. 5 points Skipood 1. A three-year fire insurance policy was purchased on July 1, 2021, for $22,500. The company debited Prepaid Insurance for the entire amount. 2. Employee salaries of $28,000 for the month of December will be paid in early January 3. On November 1, 2021, the company received $10,500 in cash...
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. 1. On December 1, 2020, the company paid its annual fire insurance premium of $2,800 for the year beginning December 1 and debited prepaid insurance 2. On August 31, 2020, the company borrowed $42,500 from a local bank. The note requires principal and...
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