Homework Answers
| Transaction | cash asset+ | non cash asset+ | contra asset= | liabilities+ | contributed capital+ | earned capital+ | revenue | expenses | net income | |
| 1 | Adjusting entry for depreciation | $1220 | $1220 | |||||||
| 2 | adjusting entry for utilities expense | $780 | $780 | |||||||
| 3 | adjusting entry for rent expense | $5600 | $5600 | |||||||
| 4 | adjusting entry for premium revenues | $1248 | $1248 | |||||||
| 5 | adjusting entries for wage expense | $1930 | $1930 | |||||||
| 6 | adjusting entry for interest earned | $600 | $600 |
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Preparing and Journalizing Adjusting Entries For each of the following separate situations, prepare the necessary adjustments...
For each of the following separate situations, prepare the necessary adjustments (a) using the financial statement...
For each of the following separate situations, prepare the necessary adjustments (a) using the financial statement effects template 1. Unrecorded depreciation on equipment is $610. 2. On the date for preparing financial statements, an estimated utilities expense of $390 has been incurred, but no utility bill has yet been received or paid. 3. On the first day of the current period, rent for four periods was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit...
For each of the following separate situations, prepare the necessary adjustments in journal entry form. 1....
For each of the following separate situations, prepare the necessary adjustments in journal entry form. 1. Unrecorded depreciation on equipment is $610. 2. On the date for preparing financial statements, an estimated utilities expense of $390 has been incurred, but no utility bill has yet been received or paid. 3. On the first day of the current period, rent for four periods was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to Cash. 4....
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1850 b. The Supplies account has a balance of $5,000. 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 $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form: a. Unrecorded depreciation on equipment is $3,300. b. The Supplies account has a balance of $5,400. Supplies on hand at the end of the period totaled $3,400. c. On the date for preparing financial statements, an estimated utilities expense of $2,800 has been incurred, but no utility bill has been received. Use the Utilities Payable account. d. On the first day of...
a. c. E3-3B. Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting...
a. c. E3-3B. Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form: Unrecorded depreciation on equipment is $1,850. b. The Supplies account has a balance of $5,000. Supplies on hand at the end of the period total $2.500. On the date for preparing financial statements, an estimated utilities expense of $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent...
Tujuuli LILIS PUI ed or the following unrelated situations, prepare the necessary adjusting entry in gene...
Tujuuli LILIS PUI ed or the following unrelated situations, prepare the necessary adjusting entry in gene a. Unrecorded depreciation on equipment is $1,310. b. The Supplies account has a balance of $3,690, Supplies on hand at the end of the period totaled $1,800. c. On the date for preparing financial statements, an estimated utilities expense of $1,090 has been incurred, bu d. On the first day of the current month, rent for four months was paid and recorded as a...
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...
Only need help with what's incorrect. Thank you! Preparing Accounting Adjustments For each of the following...
Only need help with what's incorrect. Thank
you!
Preparing Accounting Adjustments For each of the following separate situations, prepare the necessary accounting adjustments using the financial statement effects template. (a) Unrecorded depreciation on equipment is $864. (b) The supplies account has a balance of $4,644. Supplies still available at the end of the period total $1,320. (c) On the date for preparing financial statements, an estimated utilities expense of $516 has been incurred, but no utility bill has yet been...
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...
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100....
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1850 b. The Supplies account has a balance of $5,000. 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 $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for...
a. c. E3-3B. Adjusting Entries For each of the following unrelated situations, prepare the necessary adjusting entry in general journal form: Unrecorded depreciation on equipment is $1,850. b. The Supplies account has a balance of $5,000. Supplies on hand at the end of the period total $2.500. On the date for preparing financial statements, an estimated utilities expense of $550 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent...
Tujuuli LILIS PUI ed or the following unrelated situations, prepare the necessary adjusting entry in gene a. Unrecorded depreciation on equipment is $1,310. b. The Supplies account has a balance of $3,690, Supplies on hand at the end of the period totaled $1,800. c. On the date for preparing financial statements, an estimated utilities expense of $1,090 has been incurred, bu d. On the first day of the current month, rent for four months was paid and recorded as a...
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...
Only need help with what's incorrect. Thank
you!
Preparing Accounting Adjustments For each of the following separate situations, prepare the necessary accounting adjustments using the financial statement effects template. (a) Unrecorded depreciation on equipment is $864. (b) The supplies account has a balance of $4,644. Supplies still available at the end of the period total $1,320. (c) On the date for preparing financial statements, an estimated utilities expense of $516 has been incurred, but no utility bill has yet been...
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...
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
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