The following adjusting entries were journalized on December 31, 2017. If a reversing entry is needed, journalize the reversing entry on January 1, 2018. Make sure to enter the day for each separate transaction.
Homework Answers
| Date | Account Title | Debit | Credit |
| January 1, 2018 | Advertising revenue | 880 | |
| Deferred advertising | 880 | ||
| January 1, 2018 | Taxes payable | 1,750 | |
| Taxes expense | 1,750 | ||
| January 1, 2018 | Prepaid insurance | 890 | |
| Insurance expense | 890 |
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(Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Your answer is correct. Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when...
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1. Prepare the entries without making a reversing entry. For a
compound transaction, if an amount box does not require an entry,
leave it blank. If no entry is required, select "No Entry Required"
and leave the amount boxes blank or enter "0".
2. Prepare the entries with the use of a reversing entry. If
an amount box does not require an entry, leave it blank. If no
entry is required, select "No Entry Required"...
Print 5. All Mopped Up Company has journalized the adjusting entries for the period ending December 31, 2018, and posted the adjustments to the following T accounts "(Click the icon to view the T-accounts.) Using this data, prepare an adjusted trial balance. All Mopped Up Company Adjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash Office Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Uneamed Revenue Common Stock Dividends Service Revenue Salaries Expense Supplies...
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I posted all entries that are possible.
Divtek's Variety Store is completing the accounting process for the year just ended on December 31, 2017 The transactions during 2017 have been journalized and posted. The following data with respect to adjusting entries are available: a. Wages earned by employees during December 2017, unpaid and unrecorded at December 31, 2017, amounted to $3,300. The last payroll was December 28; the next payroll will be January 11, 2018. b. Office...
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The supplies account balance on December 31 is $1,585. The
supplies on hand on December 31 are $320.
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The unearned rent account balance on December 31 is $10,350
representing the receipt of an advance payment on December 1 of
five months’ rent from tenants.
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Wages accrued but not paid at December 31 are $3,710.
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