Homework Answers
The entry would be
| Account | Debit | Credit |
|---|---|---|
| Depreciation expense | 6,250 | |
| Accumulated Depreciation - Building | 6,250 |
(25,000/4)
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8. The building at BrantCo. Depreciates $25,000 per year. What is the QUARTERLY adjusting entry? Account...
1. The bottling equipment at O'Brien Brewery depreciates $18,000 per year. What is the monthly adjusting...
1. The bottling equipment at O'Brien Brewery depreciates $18,000 per year. What is the monthly adjusting entry? Account Titles and Explanation Debit Credit
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Credit Debit...
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
6. On February 1, 2019 Kelly Company purchased a 1 year insurance policy for $1,200. What is the adjusting entry on Mar...
6. On February 1, 2019 Kelly Company purchased a 1 year insurance policy for $1,200. What is the adjusting entry on March 31st? Account Titles and Explanation Debit Credit
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below...
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $8,400 Prepaid Insurance 10,080 Equipment 70,000 Accumulated Depreciation-Equipment $23,520 Notes Payable 56,000 Unearned Rent Revenue 34,720 Rent Revenue 168,000 Interest Expense Salaries and Wages Expense 39,200 An analysis of the accounts shows the following. 1. The equipment depreciates $784 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest...
9. TD Bank loaned money toa client that will pay $1,200 interest at the end of 1 year. What is the adjusting entry TD B...
9. TD Bank loaned money toa client that will pay $1,200 interest at the end of 1 year. What is the adjusting entry TD Bank makes each MONTH to account for the interest tha was earned but not received? Account Titles and Explanation Debit Credit
Exercise 3-05 The ledger of Blue Rental Agency on March 31 of the current year includes...
Exercise 3-05 The ledger of Blue Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $3,888 2,813 26,450 Y Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $9,221 19,570 4,020 64,520 -0- 13,720 An analysis of the accounts shows the following. 1. The equipment depreciates $228 per month. 2. One-third of the unearned rent was recognized...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $7,500 9,000 62,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $21,000 50,000 31,000 150,000 0 35,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 700 per month. 2. Half of the unearned rent revenue...
For Oriole Company, journalize the entry on July 1 and the annual adjusting entry on December...
For Oriole Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 Insurance Expense 14,000 Prepaid Insurance 14,000 Dec. 31 7,000 7,000
pel Progress At December 31, 2021, Sheridan Company made an accrued expense adjusting entry of $1,870...
pel Progress At December 31, 2021, Sheridan Company made an accrued expense adjusting entry of $1,870 for salaries. On January 4 2022, it paid salaries of $3,140: $1,870 for December salaries and $1,270 for January salaries. port Your answer is correct. Prepare the December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account...
1. The bottling equipment at O'Brien Brewery depreciates $18,000 per year. What is the monthly adjusting entry? Account Titles and Explanation Debit Credit
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
6. On February 1, 2019 Kelly Company purchased a 1 year insurance policy for $1,200. What is the adjusting entry on March 31st? Account Titles and Explanation Debit Credit
The ledger of Novak Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $8,400 Prepaid Insurance 10,080 Equipment 70,000 Accumulated Depreciation-Equipment $23,520 Notes Payable 56,000 Unearned Rent Revenue 34,720 Rent Revenue 168,000 Interest Expense Salaries and Wages Expense 39,200 An analysis of the accounts shows the following. 1. The equipment depreciates $784 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest...
9. TD Bank loaned money toa client that will pay $1,200 interest at the end of 1 year. What is the adjusting entry TD Bank makes each MONTH to account for the interest tha was earned but not received? Account Titles and Explanation Debit Credit
Exercise 3-05 The ledger of Blue Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Credit Debit $3,888 2,813 26,450 Y Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $9,221 19,570 4,020 64,520 -0- 13,720 An analysis of the accounts shows the following. 1. The equipment depreciates $228 per month. 2. One-third of the unearned rent was recognized...
The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Credit Debit $3,900 4,680 32,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $10.920 26.000 16.120 78,000 O 18.200 An analysis of the accounts shows the following 1 2 3 4 The equipment depreciates $364 per month Half of the unearned rent revenue was earned...
Exercise 4-09 The ledger of Blue Spruce Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $7,500 9,000 62,500 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $21,000 50,000 31,000 150,000 0 35,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 700 per month. 2. Half of the unearned rent revenue...
For Oriole Company, journalize the entry on July 1 and the annual adjusting entry on December 31. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 Insurance Expense 14,000 Prepaid Insurance 14,000 Dec. 31 7,000 7,000
pel Progress At December 31, 2021, Sheridan Company made an accrued expense adjusting entry of $1,870 for salaries. On January 4 2022, it paid salaries of $3,140: $1,870 for December salaries and $1,270 for January salaries. port Your answer is correct. Prepare the December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account...
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