Homework Answers
Entries
| 1 | Debit | Salaries expense |
| Credit | Salaries payable | |
| 2 | Debit | Unearned service revenue |
| Credit | Service revenue | |
| 3 | Debit | Account receivable |
| Credit | Service revenue | |
Add Answer to:
During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of...
During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of...
During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries. (1) Record the yearly depreciation expense for equipment. (2) Accrue utilities expense. (3) Adjust the Unearned Services Revenue account to recognize earned revenue. 23 For each of the adjusting entries (1). (2), and (3), indicate the account to be debited and the account to...
Top New Features in Sure Cuts A Lot 5 - YouTube Ch 3: Homework QS 3-4...
Top New Features in Sure Cuts A Lot 5 - YouTube Ch 3: Homework QS 3-4 Concepts of adjusting entries LO P1, P2, P3, P4 9.09 points During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearnec accounts. At the end of its annual accounting period, the company must make three adjusting entries. (U) Accrue salaries expense. (2) Adjust the Unearned Services Revenue account to recognize earned revenue. (3) Record services revenue earned...
Adjusting entries affect at least one balance sheet account and at least one income statement account....
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Adjusting entries affect at least one balance sheet account and at least one income statement account....
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record consulting services performed but not yet billed (nor...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies 2,750 6,000 Equipment Accounts Payable 6,686 Unearned Service Revenue 3.150 Common Stock 12,000 Dividends 800 Service Revenue 6,480 Salaries and Wages Expense 3,450 Utilities Expense 985 $23,325 $31.256 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $760,...
Each of the listed accounts has a normal balance per the general ledger. An examination of...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
Adjusting entries affect at least one balance sheet account and at least one income statement account....
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Adjusting entries affect at least one balance sheet account and at least one income statement account....
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below. Identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Blossom Company has an inexperienced accountant. During the first two weeks on the job, the accountant...
Blossom Company has an inexperienced accountant. During the first two weeks on the job, the accountant made the following errors in journalizing transactions. All incorrect entries were posted 1. A payment on account of 5690 to a creditor was debited $580 to Accounts Payable and credited $580 to Cash. 2. The purchase of supplies on account for $630 was not recorded 3. A $410 withdrawal of cash for L. Blossom's personal use was debited $410 to Salaries Expense and credited...
Adjusting entries affect at least one balance sheet account and at least one income statement account....
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record Interest revenue earned but not yet collected (nor...
During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries. (1) Record the yearly depreciation expense for equipment. (2) Accrue utilities expense. (3) Adjust the Unearned Services Revenue account to recognize earned revenue. 23 For each of the adjusting entries (1). (2), and (3), indicate the account to be debited and the account to...
Top New Features in Sure Cuts A Lot 5 - YouTube Ch 3: Homework QS 3-4 Concepts of adjusting entries LO P1, P2, P3, P4 9.09 points During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearnec accounts. At the end of its annual accounting period, the company must make three adjusting entries. (U) Accrue salaries expense. (2) Adjust the Unearned Services Revenue account to recognize earned revenue. (3) Record services revenue earned...
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record consulting services performed but not yet billed (nor...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies 2,750 6,000 Equipment Accounts Payable 6,686 Unearned Service Revenue 3.150 Common Stock 12,000 Dividends 800 Service Revenue 6,480 Salaries and Wages Expense 3,450 Utilities Expense 985 $23,325 $31.256 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $760,...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below. Identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash...
Blossom Company has an inexperienced accountant. During the first two weeks on the job, the accountant made the following errors in journalizing transactions. All incorrect entries were posted 1. A payment on account of 5690 to a creditor was debited $580 to Accounts Payable and credited $580 to Cash. 2. The purchase of supplies on account for $630 was not recorded 3. A $410 withdrawal of cash for L. Blossom's personal use was debited $410 to Salaries Expense and credited...
Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record Interest revenue earned but not yet collected (nor...
Most questions answered within 3 hours.
-
Write a psudocode:
1. Define a function called authorize that takes in 2 strings,
uName, and...
asked 3 minutes ago -
What Hall voltage (in mV) is produced by a 0.180 T field applied
across a 2.60...
asked 2 minutes ago -
What mass of ethylene glycol (C2H6O2) must be added to 211.0 g
of water to obtain...
asked 5 minutes ago -
Mary's employer has a defined benefits retirement plan, which
pay 3.2% of her last year's salary...
asked 8 minutes ago -
What are the characteristics and behavior of an ethical
manager?
Explain, in your words, what ethics...
asked 25 minutes ago -
1. Which of the following is NOT an argument that McMahan uses
to show that jus...
asked 46 minutes ago -
A crate slides up a frictionless slope. At the end of 3 seconds
its velocity is...
asked 1 hour ago -
Use the following information to answer the next seven
questions.
Suppose there are three potential states...
asked 59 minutes ago -
If we only have interstitial and substitutional diffusion, then
what do we consider the process of...
asked 1 hour ago -
You look at yourself in a shiny 9.6-cm-diameter Christmas tree
ball.
If your face is 21.0...
asked 1 hour ago -
If we were to measure the relaxation time of a muscle after
undergoing tetanus compared to...
asked 1 hour ago -
4CO(g) + 8H2(g) -----> 3CH4(g) +
CO2(g) + 2H2O(l)
Use the following data as needed to...
asked 1 hour ago