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rate positively .. let me know if you need any clarification..
| Mackay has paid 3 month rent = | 6000 | ||||||
| Monthly rent = 6000/3 | 2000 | ||||||
| In December accountant has to record the 2 month rent of 2000*2 = 4000 | |||||||
| Correct answer is option - | |||||||
| a credit to prepaid rent for $4000 and a debit to rent expenses for $4000 | |||||||
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Practice, Question 12 Mackay Corporation moved into its new premises on November 1, 2018. At that...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
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ent PRINTER VERSION BACK NEXT Question 4 On October 1, 2018, Spooner Corporation issued $810,000 of 10-year, 4% bonds at 100. Interest is payable semi-annually on October 1 and April 1. Spooner's year end is December 31 and the company records adjusting entries annually a) Prepare journal entries to record the following: (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. The issue of...
Practice Assignment Gradebook ORION Downloadable eTextbook ignment Question 2 At January 1, 2018, Cullumber Limited reported...
Practice Assignment Gradebook ORION Downloadable eTextbook ignment Question 2 At January 1, 2018, Cullumber Limited reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings 559,500,000 Accumulated depreciation equipment 50,700,000 Buildings 99,300,000 Equipment 140,000,000 Land 20,700,000 The company uses straight-line depreciation for buildings and equipment, its year end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful...
At March 31, account balances after adjustments for Wide Screen are as follows: Accounts Cash Supplies...
At March 31, account balances after adjustments for Wide Screen are as follows: Accounts Cash Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Owner's, Capital Owner's, Drawings Ticket Revenue Service Revenue Advertising Expense Supplies Expense Depreciation Expense Rent Expense Salaries and Wages Expense Utilities Expense Account Balances (After Adjustment) $11,000 4,000 50,000 12,000 5,000 20,000 8,000 59,000 55,000 18,800 17,000 4,000 26,000 24,000 5,200 Prepare the closing journal entries for Wide Screen. (Credit account titles are automatically indented when amount entered. Do...
please help me with this The adjusted trial balance columns of the worksheet for Novak Company...
please help me with this
The adjusted trial balance columns of the worksheet for Novak Company are as follows. Cr Novak Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cash 10,000 Accounts Receivable 7,300 Prepaid Rent 2,260 Equipment 23,050 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,600 Accounts Payable 5,000 Common Stock 18,600 Retained Earnings 8,900 Dividends 3,750 Service Revenue 16,000 Salaries and Wages Expense 10,640 Rent Expense Depreciation Expense 700 Interest Expense 60...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31,...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31, 2022 Credit Debit $15,940 3,270 690 4,810 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,810 2,790 1,840 11,490 0 500 9,200 4,000 920 $30,130 $30,130 Assume the following adjustment data. 1. Supplies on hand at October 31 total $540. Policy | 2000-2020 John Wiley & Sons,...
leyPLUS Weygandt, Accounting Principles, Eighth Canadian Edition, Volume 1 Read, Study & Practice Assignment Gradebook ORION...
leyPLUS Weygandt, Accounting Principles, Eighth Canadian Edition, Volume 1 Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook ment > Open Assignment IMENT RESOURCES hallenge - Bonus ment stion Score Results by Study Ive Question 1 Lee Chang opened Blossom's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $29,000 cash in the business, 1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance. 1...
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Yster Announcements -actice Assignment Gradebook ORION Downloadable eTextbook gnment Credit Cullumber Advertising Trial Balance October 31, 2017 Debit Cash $15,000 Supplies 2,600 Prepaid Insurance 500 Equipment 4,200 Notes Payable Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings 400 Service Revenue Salaries and Wages Expense 4,200 Rent Expense 900 $27,800 $4,600 2,500 1,200 8,700 10,800 $27,800 Assume the following adjustment data. 1. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is $300. 3. Depreciation...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%,...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%, $1,050 Leeds Co. bonds for $84,000 cash. Interest is payable annually on January 1, 2020. 2. Accrued interest on Leeds Co. bonds on December 31, 2020. 3. Received interest on Leeds Co. bonds on January 1, 2021. 4. Sold 30 Leeds Co. bonds for $69,300 on January 1, 2021. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3....
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
ent PRINTER VERSION BACK NEXT Question 4 On October 1, 2018, Spooner Corporation issued $810,000 of 10-year, 4% bonds at 100. Interest is payable semi-annually on October 1 and April 1. Spooner's year end is December 31 and the company records adjusting entries annually a) Prepare journal entries to record the following: (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. The issue of...
Practice Assignment Gradebook ORION Downloadable eTextbook ignment Question 2 At January 1, 2018, Cullumber Limited reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings 559,500,000 Accumulated depreciation equipment 50,700,000 Buildings 99,300,000 Equipment 140,000,000 Land 20,700,000 The company uses straight-line depreciation for buildings and equipment, its year end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful...
At March 31, account balances after adjustments for Wide Screen are as follows: Accounts Cash Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Owner's, Capital Owner's, Drawings Ticket Revenue Service Revenue Advertising Expense Supplies Expense Depreciation Expense Rent Expense Salaries and Wages Expense Utilities Expense Account Balances (After Adjustment) $11,000 4,000 50,000 12,000 5,000 20,000 8,000 59,000 55,000 18,800 17,000 4,000 26,000 24,000 5,200 Prepare the closing journal entries for Wide Screen. (Credit account titles are automatically indented when amount entered. Do...
please help me with this
The adjusted trial balance columns of the worksheet for Novak Company are as follows. Cr Novak Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cash 10,000 Accounts Receivable 7,300 Prepaid Rent 2,260 Equipment 23,050 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,600 Accounts Payable 5,000 Common Stock 18,600 Retained Earnings 8,900 Dividends 3,750 Service Revenue 16,000 Salaries and Wages Expense 10,640 Rent Expense Depreciation Expense 700 Interest Expense 60...
The unadjusted trial balance for Culver Corporation is shown below. CULVER CORPORATION Trial Balance October 31, 2022 Credit Debit $15,940 3,270 690 4,810 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,810 2,790 1,840 11,490 0 500 9,200 4,000 920 $30,130 $30,130 Assume the following adjustment data. 1. Supplies on hand at October 31 total $540. Policy | 2000-2020 John Wiley & Sons,...
leyPLUS Weygandt, Accounting Principles, Eighth Canadian Edition, Volume 1 Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook ment > Open Assignment IMENT RESOURCES hallenge - Bonus ment stion Score Results by Study Ive Question 1 Lee Chang opened Blossom's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $29,000 cash in the business, 1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance. 1...
Yster Announcements -actice Assignment Gradebook ORION Downloadable eTextbook gnment Credit Cullumber Advertising Trial Balance October 31, 2017 Debit Cash $15,000 Supplies 2,600 Prepaid Insurance 500 Equipment 4,200 Notes Payable Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings 400 Service Revenue Salaries and Wages Expense 4,200 Rent Expense 900 $27,800 $4,600 2,500 1,200 8,700 10,800 $27,800 Assume the following adjustment data. 1. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is $300. 3. Depreciation...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%, $1,050 Leeds Co. bonds for $84,000 cash. Interest is payable annually on January 1, 2020. 2. Accrued interest on Leeds Co. bonds on December 31, 2020. 3. Received interest on Leeds Co. bonds on January 1, 2021. 4. Sold 30 Leeds Co. bonds for $69,300 on January 1, 2021. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
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