Homework Answers
The rent paid on January 5 actually covers the liability or expense for the period from 1st January to 31st March. but creations ltd has paid rent in advance on 5th January which is actually due on 31st March.
The following entries are to be passed.
on 5th January -- Prepaid rent Account Dr $ 3000
Bank Account Cr $ 3000
on 31st March -- Rent Account Dr $ 3000
Prepaid Rent Account Cr $ 3000
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Creations Limited started business...
What is the interest expense? Please explain the answer step by step. Thank you! Maurice Inc....
What is the interest expense?
Please explain the answer step by step. Thank you!
Maurice Inc. was started on January 1, 2017 and provided you with the following ending balances of its accounts on December 31, 2017: Cash Equipment Accounts payable Accounts receivable Buildings Note payable A, due March 31, 2018 Sales revenue Note payable B, due December 31, 2019 $44,800 36,000 Advertising expense 85,120 97,440 Inventory 560,000 Prepaid rent Salary and wages expense $78,400 11,200 6,720 11,200 6,720 744,880...
Business Law: Text and Cases 14th Edition Please answer Number 3 I already have questions 1...
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This assignment is a case study which must be completed in Excel. You are expected to...
This assignment is a case study which must be completed in Excel. You are expected to use T-Tables to produce Trial Balance. The assignment will involve aspects of the material from all weeks of the course and is designed for you to demonstrate your new (or newly refreshed) accounting knowledge. It accounts for 30% of the final grade and you must achieve at least 50% in both this assignment and the course as a whole to pass. Case Study: JJ...
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Accounting. Adjusting entries. Could you explain how you get the answer? Transaction B: Arnez Company's annual...
Accounting. Adjusting entries. Could you explain how you get the
answer?
Transaction B:
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,000 balance. During 2019, the company purchased supplies for $13,400, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $2,554. b. An analysis of...
i just want the trial balance 2 MIX Inc. is a service business incorporated on January,...
i just want the trial balance
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances. Accounts Payable $ 600 Notes Payable (long-term) $ 200 Accounts...
Ronnie Redd is a photographer who has started a new photography business. On December 1, 2018,...
Ronnie Redd is a photographer who has started a new photography business. On December 1, 2018, Ronnie decided to incorporate under the name Abington Campus Photography. Ronnie has hired you to provide accounting services for the company. Read the instructions at the top of each tab. Prepare the required journal entries for the month of December, the necessary adjusting entries and closing entries as of December 31, and a complete set of financial statements, to include all proper labels. General...
i want question l to s . the ones for adjusting journal entries on december 31 2 MIX Inc. is a service business incorpo...
i want question l to s . the ones for adjusting journal entries
on december 31
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances....
Ronnie Redd is a photographer who has started a new photography business. On December 1, 2018,...
Ronnie Redd is a photographer who has started a new photography business. On December 1, 2018, Ronnie decided to incorporate under the name Abington Campus Photography. Ronnie has hired you to provide accounting services for the company. Read the instructions at the top of each tab. Prepare the required journal entries for the month of December, the necessary adjusting entries and closing entries as of December 31, and a complete set of financial statements, to include all proper labels. General...
What is the interest expense?
Please explain the answer step by step. Thank you!
Maurice Inc. was started on January 1, 2017 and provided you with the following ending balances of its accounts on December 31, 2017: Cash Equipment Accounts payable Accounts receivable Buildings Note payable A, due March 31, 2018 Sales revenue Note payable B, due December 31, 2019 $44,800 36,000 Advertising expense 85,120 97,440 Inventory 560,000 Prepaid rent Salary and wages expense $78,400 11,200 6,720 11,200 6,720 744,880...
Accounting. Adjusting entries. Could you explain how you get the
answer?
Transaction B:
Arnez Company's annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,000 balance. During 2019, the company purchased supplies for $13,400, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $2,554. b. An analysis of...
i just want the trial balance
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances. Accounts Payable $ 600 Notes Payable (long-term) $ 200 Accounts...
i want question l to s . the ones for adjusting journal entries
on december 31
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances....
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