Homework Answers
| Account | Account type | Increase or Decrease | Debit or Credit | Amount |
| Interest Revenue | Income | Increase | Credit | 400 |
| Interest Receivable | Asset | Increase | Debit | 400 |
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Rock Castle Construction has earned interest of $400 as of December 31, 2022. This interest has...
We were unable to transcribe this imageOn December 1, 2022 Rock Castle Construction received $3,000 for...
We were unable to transcribe this imageOn December 1, 2022 Rock Castle Construction received $3,000 for unused storage space it leased to a subcontractor. The entire amount was recorded in the Checking account and as unearned rental revenue. The $3,000 payment was for three months of rent, beginning December 1, 2022. So an adjusting entry is needed to bring accounts up to date at December 31 and record the amount of rent revenue that has been earned as of December...
Type your answer in the box. On December 27, a business completed a $400 service that...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
Type your answer in the box. On December 27, a business completed a $400 service that...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
On December 31, Torres Company has earned interest revenue of $4,400 on outstanding notes, even though...
On December 31, Torres Company has earned interest revenue of $4,400 on outstanding notes, even though the company will not actually receive the interest until the following year. Required: Journalize the adjusting entry on December 31. Date Account Title Debit Credit Dec. 31
Saved mework B 0 2. As of December 31, the company has earned, but not yet...
Saved mework B 0 2. As of December 31, the company has earned, but not yet recorded, $450 of interest revenu responsible bonds. The interest revenue is expected to be received on January 12 For each of the above separate cases, prepare the required December 31 year-end adjusting e View transaction list Journal entry worksheet 1 2 3 4 5 Depreciation on the company's wind turbine equipment for the year is $5,500. Note: Enter debits before credits. Transaction Credit General...
Wages of $6,000 are earned by workers but not paid as of December 31. Depreciation on...
Wages of $6,000 are earned by workers but not paid as of December 31. Depreciation on the company’s equipment for the year is $11,680. The Supplies account had a $410 debit balance at the beginning of the year. During the year, $5,776 of supplies are purchased. A physical count of supplies at December 31 shows $628 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that...
Lune s on the balance sheet as of December 31, 2011 $4,300 $2,200 $4,600 $4,800 None...
Lune s on the balance sheet as of December 31, 2011 $4,300 $2,200 $4,600 $4,800 None of the above. of the following adjusting entries, which one results in an increase in liabilities? ay to record earned portion of rent previously received in advance from a tenant and initially recorded as a liability The entry to write off a portion of unexpired insurance initially recorded as an asset. The entry to record interest accrued on a note receivable. D. The entry...
Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on...
Wages of $8,000 are earned by workers but not paid as of
December 31.
Depreciation on the company’s equipment for the year is
$10,840.
The Office Supplies account had a $350 debit balance at the
beginning of the year. During the year, $4,791 of office supplies
are purchased. A physical count of supplies at December 31 shows
$529 of supplies available.
The Prepaid Insurance account had a $5,000 balance at the
beginning of the year. An analysis of insurance policies...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b....
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Wages of $14.000 are earned by workers but not paid as of December 31 b....
a. Wages of $14.000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $10.480. C. The Office Supplies account had a $470 debit balance at the beginning of December. During December, $5,342 of office supplies are purchased. A physical count of supplies at December 31 shows $584 of supplies available. d. The Prepaid Insurance account had a $5.000 balance at the beginning of December. An analysis of insurance...
We were unable to transcribe this imageOn December 1, 2022 Rock Castle Construction received $3,000 for unused storage space it leased to a subcontractor. The entire amount was recorded in the Checking account and as unearned rental revenue. The $3,000 payment was for three months of rent, beginning December 1, 2022. So an adjusting entry is needed to bring accounts up to date at December 31 and record the amount of rent revenue that has been earned as of December...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
On December 31, Torres Company has earned interest revenue of $4,400 on outstanding notes, even though the company will not actually receive the interest until the following year. Required: Journalize the adjusting entry on December 31. Date Account Title Debit Credit Dec. 31
Saved mework B 0 2. As of December 31, the company has earned, but not yet recorded, $450 of interest revenu responsible bonds. The interest revenue is expected to be received on January 12 For each of the above separate cases, prepare the required December 31 year-end adjusting e View transaction list Journal entry worksheet 1 2 3 4 5 Depreciation on the company's wind turbine equipment for the year is $5,500. Note: Enter debits before credits. Transaction Credit General...
Lune s on the balance sheet as of December 31, 2011 $4,300 $2,200 $4,600 $4,800 None of the above. of the following adjusting entries, which one results in an increase in liabilities? ay to record earned portion of rent previously received in advance from a tenant and initially recorded as a liability The entry to write off a portion of unexpired insurance initially recorded as an asset. The entry to record interest accrued on a note receivable. D. The entry...
Wages of $8,000 are earned by workers but not paid as of
December 31.
Depreciation on the company’s equipment for the year is
$10,840.
The Office Supplies account had a $350 debit balance at the
beginning of the year. During the year, $4,791 of office supplies
are purchased. A physical count of supplies at December 31 shows
$529 of supplies available.
The Prepaid Insurance account had a $5,000 balance at the
beginning of the year. An analysis of insurance policies...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Wages of $14.000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $10.480. C. The Office Supplies account had a $470 debit balance at the beginning of December. During December, $5,342 of office supplies are purchased. A physical count of supplies at December 31 shows $584 of supplies available. d. The Prepaid Insurance account had a $5.000 balance at the beginning of December. An analysis of insurance...
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