Homework Answers
Adjusting entry
| date | account and explanation | debit | credit |
| Dec 31 | Insurance expense | 1500 | |
| Prepaid insurance | 1500 | ||
| (To record insurance expense) | |||
| Dec 31 | Supplies expense (5600+2300-950) | 6950 | |
| Supplies | 6950 | ||
| (To record supplies adjusted) |
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a. On July 1, 2017, Lopez Company paid $1,500 for six months of insurance coverage. No...
a. On July 1, 2017, Lopez Company paid $3,200 for six months of insurance coverage. No...
a. On July 1, 2017, Lopez Company paid $3,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $9,000 on January 1, 2017. During 2017, it purchased $4,000 of supplies. As of December 31, 2017, a supplies inventory shows $1,800 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $5,800 on January 1, 2017. During 2017, it purchased $2,400 of supplies. As of December 31, 2017, a supplies inventory shows $1,000 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017. b. Zim Company has a Supplies account balance of $5,800 on January 1, 2017. During 2017, it purchased $2,400 of supplies. As of December 31, 2017, a supplies inventory shows $1,000 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid...
For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $2,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $7.000 at the beginning of the year. During the year, it purchased $3,000 of supplies. As of December 31, a physical count of supplies shows $1,300 of supplies available. points Prepare the...
For each separate case, record the necessary adjusting entry a. On July 1. Lopez Company paid...
For each separate case, record the necessary adjusting entry a. On July 1. Lopez Company paid $1.600 for six months of insurance coverage. No adjustments have been made to the Prepard Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $5.800 at the beginning of the year. During the year, it purchased $2.400 of supplies. As of December 31, a physical count of supplies shows $1,000 of supplies available Prepare the year-end...
Help For each separate case, record the necessary adjusting entry. a. On July 1. Lopez Company...
Help For each separate case, record the necessary adjusting entry. a. On July 1. Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchased $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the...
Help 5 7 For each separate case, record the necessary adjusting entry. 1 a. On July...
Help 5 7 For each separate case, record the necessary adjusting entry. 1 a. On July 1, Lopez Company paid $2,300 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $7.200 at the beginning of the year. During the year, it purchased $3,100 of supplies. As of December 31, a physical count of supplies shows $1,350 of supplies...
For each separate case, record the necessary adjusting entry, a. On July 1, Lopez Company paid...
For each separate case, record the necessary adjusting entry, a. On July 1, Lopez Company paid $1.200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31 b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchases $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. 11111111 points awarded...
Upg 2020 NUU 211 0... Chapter 3 Quiz Homework Favorit Saved Help Save & Exit Submit...
Upg 2020 NUU 211 0... Chapter 3 Quiz Homework Favorit Saved Help Save & Exit Submit QS 3-7 Adjusting prepaid expenses LO P1 Check my work a. On July 1, 2017, Lopez Company paid $2,900 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $8,400 on January 1, 2017. During 2017, it purchased $3,700 of supplies. As...
85/100 Total points anded Help Ex If the Common stock account had a $10,000 credit balance...
85/100 Total points anded Help Ex If the Common stock account had a $10,000 credit balance at the beginning of the period, and during the period, an additional $5,000 of common stock is issued, the balance in the common stock account listed on the trial balance will be equal to a debit balance of 55.000 E For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $1,200 for six months of insurance coverage. No...
a. On July 1, 2017, Lopez Company paid $3,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $9,000 on January 1, 2017. During 2017, it purchased $4,000 of supplies. As of December 31, 2017, a supplies inventory shows $1,800 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $5,800 on January 1, 2017. During 2017, it purchased $2,400 of supplies. As of December 31, 2017, a supplies inventory shows $1,000 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
a. On July 1, 2017, Lopez Company paid $1,600 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017. b. Zim Company has a Supplies account balance of $5,800 on January 1, 2017. During 2017, it purchased $2,400 of supplies. As of December 31, 2017, a supplies inventory shows $1,000 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the...
For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $2,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $7.000 at the beginning of the year. During the year, it purchased $3,000 of supplies. As of December 31, a physical count of supplies shows $1,300 of supplies available. points Prepare the...
For each separate case, record the necessary adjusting entry a. On July 1. Lopez Company paid $1.600 for six months of insurance coverage. No adjustments have been made to the Prepard Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $5.800 at the beginning of the year. During the year, it purchased $2.400 of supplies. As of December 31, a physical count of supplies shows $1,000 of supplies available Prepare the year-end...
Help For each separate case, record the necessary adjusting entry. a. On July 1. Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchased $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the...
Help 5 7 For each separate case, record the necessary adjusting entry. 1 a. On July 1, Lopez Company paid $2,300 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $7.200 at the beginning of the year. During the year, it purchased $3,100 of supplies. As of December 31, a physical count of supplies shows $1,350 of supplies...
For each separate case, record the necessary adjusting entry, a. On July 1, Lopez Company paid $1.200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31 b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchases $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. 11111111 points awarded...
Upg 2020 NUU 211 0... Chapter 3 Quiz Homework Favorit Saved Help Save & Exit Submit QS 3-7 Adjusting prepaid expenses LO P1 Check my work a. On July 1, 2017, Lopez Company paid $2,900 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $8,400 on January 1, 2017. During 2017, it purchased $3,700 of supplies. As...
85/100 Total points anded Help Ex If the Common stock account had a $10,000 credit balance at the beginning of the period, and during the period, an additional $5,000 of common stock is issued, the balance in the common stock account listed on the trial balance will be equal to a debit balance of 55.000 E For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $1,200 for six months of insurance coverage. No...
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