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.
Prepare the necessary year-end adjusting entries at the end of June
30, 2021, for the above situations. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
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. On December 1, 2020, the company paid its annual fire insurance premium of $5,600 for the year beginning December 1 and debited prepaid insurance. On August 31, 2020, the company borrowed $92,500 from a local bank. The note requires principal and interest at...
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 OK 1. On December 1, 2020, the company paid its annual fire insurance premium of $3,200 for the year beginning December 1 and debited prepaid insurance 2. On August 31, 2020, the company borrowed $50,000 from a local bank. The note requires principal...
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...
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. On December 1, 2017, the company paid its annual fire insurance premium of $5,600 for the year beginning December 1 and debited prepaid insurance. On August 31, 2017, the company borrowed $92,500 from a local bank. The note requires principal and interest at...
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, 2017, the company paid its annual fire insurance premium of $9,600 for the year beginning December 1 and debited prepaid insurance. 2. On August 31, 2017, the company borrowed $160,000 from a local bank. The note requires principal and...
please show work 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, 2017, the company paid its annual fire insurance premium of $8,800 for the year beginning December 1 and debited prepaid insurance 2. On August 31, 2017, the company borrowed $145,000 from a local bank. The note...
Exercise 2-11 (Algo) Adjusting entries; fiscal year (LO2-6] 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...
Exercise 2-11 (Algo) Adjusting entries; fiscal year (LO2-6] 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 $5,200 for the year beginning December 1 and debited prepaid insurance. 2. On August 31, 2020, the company borrowed $85,000 from...
1 2 3 4 5 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, 2017, the company paid its annual fire insurance premium of $3,200 for the year beginning December 1 and debited prepaid insurance, 2. On August 31, 2017, the company borrowed $50,000 from a local bank....
Grasshopper Lawn Service provides general lawn maintenance to customers. The company’s fiscal year-end is December 31. Information necessary to prepare the year-end adjusting entries appears below. On October 1, 2021, Grasshopper lent $110,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2022. On November 1, 2021, the company paid its landlord $22,500 representing rent for the months of November through January. Prepaid Rent was debited for the entire amount. On...