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Question 1 25 pts Adjusting journal entries typically are recorded Daily At the end of the...
Complete the worksheet using the excel file. Add your adjusting journal entries and complete the adjusted...
Complete the worksheet using the excel file. Add your adjusting journal entries and complete the adjusted trial balance. Do not do the financial statements, closing entries, or post-close trial balance. The information for the adjusting journal entries are at the bottom of the tab- "adjusting entries" Adjusting Journal Entries Info. Insurance that expired during December was $275.00 A physical count of the supplies indicated that $715.00 were on hand. Depreciation on office equipment for the period was $330.00 Salaries worked...
The preparation of adjusting entries requires a debit entry to one account and a credit entry to another account
CP 3-1 The preparation of adjusting entries requires a debit entry to one account and a credit entry to another account. ABa. Insurance Expense b. Rent Earned c. Prepaid Rent d. Interest Payable e. Interest Receivable f. Fees Earned g. Unused Supplies h. Unearned Commissions Revenue i. Salaries Payablej. Depreciation Expense1. Commissions Earned 2. Supplies Expense 3. Salaries Expense 4. Unearned Fees 5. Accumulated Depreciation 6. Rent Expense 7. Prepaid Insurance 8. Interest Earned 9. Interest Expense 10. Unearned Rent Required: Match each account in column A with the appropriate account in column B
In total, there are pages 5 and 6 to the journal and page 7 is adjusting entries. there is also closing ent...
In total, there are pages 5 and 6 to the journal and page 7 is
adjusting entries. there is also closing entries (part of the
journal), I do NOT need to enter ledger accounts, there is also an
unadjusted trial balance, adjusted trial balance, income statement,
statement of owners equity, balance sheet, and post-closing trial
balance.
This is what I have already:
The trial balances are wrong becayse my totals dont match and
im not sure why. The other financial...
Question 6 incomplete answer Marked out of 1.00 P Flag question Adjusting Entries for each of...
Question 6 incomplete answer Marked out of 1.00 P Flag question Adjusting Entries for each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1,850 b. The Supplies account has a balance of 54,000. 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 $610 has been incurred, but no utility bill has been received...
Problem 3-1A Identifying adjusting entries with explanations LO P1, P2, P3, P4 For journal entries 1...
Problem 3-1A Identifying adjusting entries with explanations LO P1, P2, P3, P4 For journal entries 1 through 12, select the letter of the explanation that most closely describes it in the space beside each entry. You can use letters more than once. A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued...
Please answer the following question. Preparing Adjusting Entries Jake Thomas began Thomas Refinishing Service on July...
Please answer the following question.
Preparing Adjusting Entries Jake Thomas began Thomas Refinishing Service on July 1, 2019. Selected accounts are shown below as of July 31, before any adjusting entries have been made. Unadjusted Account Balances Debit Credit Prepaid rent $5,700 Prepaid advertising 630 Supplies inventory 3,000 Performance obligation liability $600 Refinishing fees revenue 2,500 Support Using the following information, prepare the adjusting entries necessary on July 31 (a) using the financial statement effects template and (b) in journal...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as liabilities: a. Depreciation on the company's equipment for 2011 is computed to be $16,000 b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An...
Trial Balance and Adjusting Entries Photomake, Inc., a commercial photography studio, has just completed its first...
Trial Balance and Adjusting Entries Photomake, Inc., a commercial photography studio, has just completed its first full year of operations on December 31. The general ledger account balances before year-end adjustments follow. No adjusting entries have been made to the accounts at any time during the year. Assume that all balances are normal. Cash $2,365 Accounts Payable Accounts Receivable 4180 Unearned Photography Fees 2.860 26.400 Prepaid insurance 3.267 Photography Fees Eamed 37,928 Supplies 4,675 Wages Expense 12,100 Equipment 25.080 Utilities...
Adjusting Entries Judy Rock began Rock Refinishing Service on July 1. Selected accounts are shown below...
Adjusting Entries Judy Rock began Rock Refinishing Service on July 1. Selected accounts are shown below as of July 31, before any adjusting entries have been made: Debit Credit Prepaid rent $6,000 Prepaid advertising 930 Supplies 3.000 Unearned refinishing fees 800 Refinishing fees revenue 2,500 Using the following information, record in a general Journal the necessary adjusting entries on July 31 a. On July 1, the firm paid one year's rent of $6,000. b. On July 1, 5930 was paid...
Based on Adjusting journal entries. Cash Entry not used.. JOURNAL ENTRY EXPLANATIONS ARE NOT REQUIRED.. To...
Based on Adjusting journal entries. Cash Entry not
used.. JOURNAL ENTRY EXPLANATIONS ARE NOT REQUIRED..
To be answered as shown in pic 3.
Ben Brown, the owner of Ben's Consulting Services, has been in business for two years. The unadjusted trial balance for December 31, regarding the year just ended, follows. Ben's Consulting Services Unadjusted Trial Balance December 31, 2022 Credit Debit $5,800 4,955 420 4,200 12,600 46,000 $0 3,900 Account Cash Accounts Receivable Office Supplies Prepaid Advertising Prepaid Rent...
In total, there are pages 5 and 6 to the journal and page 7 is
adjusting entries. there is also closing entries (part of the
journal), I do NOT need to enter ledger accounts, there is also an
unadjusted trial balance, adjusted trial balance, income statement,
statement of owners equity, balance sheet, and post-closing trial
balance.
This is what I have already:
The trial balances are wrong becayse my totals dont match and
im not sure why. The other financial...
Question 6 incomplete answer Marked out of 1.00 P Flag question Adjusting Entries for each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1,850 b. The Supplies account has a balance of 54,000. 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 $610 has been incurred, but no utility bill has been received...
Problem 3-1A Identifying adjusting entries with explanations LO P1, P2, P3, P4 For journal entries 1 through 12, select the letter of the explanation that most closely describes it in the space beside each entry. You can use letters more than once. A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued...
Please answer the following question.
Preparing Adjusting Entries Jake Thomas began Thomas Refinishing Service on July 1, 2019. Selected accounts are shown below as of July 31, before any adjusting entries have been made. Unadjusted Account Balances Debit Credit Prepaid rent $5,700 Prepaid advertising 630 Supplies inventory 3,000 Performance obligation liability $600 Refinishing fees revenue 2,500 Support Using the following information, prepare the adjusting entries necessary on July 31 (a) using the financial statement effects template and (b) in journal...
Prepare adjusting journal entries for the year ended (date of) December 31, 2011, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as liabilities: a. Depreciation on the company's equipment for 2011 is computed to be $16,000 b. The Prepaid Insurance account had a $7,000 debit balance at December 31, 2011, before adjusting for the costs of any expired coverage. An...
Trial Balance and Adjusting Entries Photomake, Inc., a commercial photography studio, has just completed its first full year of operations on December 31. The general ledger account balances before year-end adjustments follow. No adjusting entries have been made to the accounts at any time during the year. Assume that all balances are normal. Cash $2,365 Accounts Payable Accounts Receivable 4180 Unearned Photography Fees 2.860 26.400 Prepaid insurance 3.267 Photography Fees Eamed 37,928 Supplies 4,675 Wages Expense 12,100 Equipment 25.080 Utilities...
Adjusting Entries Judy Rock began Rock Refinishing Service on July 1. Selected accounts are shown below as of July 31, before any adjusting entries have been made: Debit Credit Prepaid rent $6,000 Prepaid advertising 930 Supplies 3.000 Unearned refinishing fees 800 Refinishing fees revenue 2,500 Using the following information, record in a general Journal the necessary adjusting entries on July 31 a. On July 1, the firm paid one year's rent of $6,000. b. On July 1, 5930 was paid...
Based on Adjusting journal entries. Cash Entry not
used.. JOURNAL ENTRY EXPLANATIONS ARE NOT REQUIRED..
To be answered as shown in pic 3.
Ben Brown, the owner of Ben's Consulting Services, has been in business for two years. The unadjusted trial balance for December 31, regarding the year just ended, follows. Ben's Consulting Services Unadjusted Trial Balance December 31, 2022 Credit Debit $5,800 4,955 420 4,200 12,600 46,000 $0 3,900 Account Cash Accounts Receivable Office Supplies Prepaid Advertising Prepaid Rent...
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