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9. Adjusting Entry, Dec 21:-
B
A
C
10. B)
11. C)
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9. (9 pts) On October 1, 20D, PHD Corporation collected rent of $4,800 for two years...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is: Multiple Choice Debit Unearned Rent. $12,600. credit Rent Earned, $12,600 O Debit Unearned Rent, $21,000, credit Rent Earned, $21000, Debit Unearned Rent,...
1. Which of the following are NOT in accordance with generally accepted accounting principles? cash basis...
1. Which of the following are NOT in accordance with generally accepted accounting principles? cash basis accounting accrual basis accounting both cash and accrual basis accounting neither the cash or accrual basis accounting 2. The balance in the office supplies account on June 1 was $2,000, supplies purchased during June were $4,300, and the supplies on hand at June 30 were $1,500. The amount to be used for the appropriate adjusting entry is 800 6300 3500 4800 3. Melman Company...
Week 4 – Assignment Question A: 1] Collected $1,000 rent for the period December 1, 2012,...
Week 4 – Assignment Question A: 1] Collected $1,000 rent for the period December 1, 2012, to April 1, 2013, which was credited to Unearned Rent Revenue on December 1, 2012. 2] Purchased a machine for $32,000 cash on January 1, 2008. The company estimates annual depreciation at $3,000. 3] Paid $4,200 for a two-year insurance premium on July 1, 2012; debited Prepaid Insurance for that amount. Instruction: Please make and adjusted transactions Questions B: Determining Financial Statement Effects of...
accounting help The trial balance for Cheyenne Corp. is shown below. Credit Cheyenne Corp. Trial Balance...
accounting help
The trial balance for Cheyenne Corp. is shown below. Credit Cheyenne Corp. Trial Balance October 31, 2020 Debit Cash $16,000 Supplies 2,800 Prepaid Insurance 800 Equipment 5,600 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 700 Service Revenue Salaries and Wages Expense 5,000 Rent Expense 900 $31,800 $4,800 2,400 1,500 11,700 -0- 11,400 $31,800 Assume the following adjustment data. 1. 2. 3. 4. 5. 6. 7. Supplies on hand at October 31 total $700....
16). The employees of Able Com oyees of Able Company have worked the last two weeks...
16). The employees of Able Com oyees of Able Company have worked the last two weeks of Year 1, but the employees salaries have not been paid or recorded as of December 31, Year 1 been paid or recorded as of December 31. Year 1. The adjusting entry that Able should make to accrue these unpaid salaries on December 31, Year 1 is: A) debit to Salaries Expense and credit to Cash. B) debit to Salaries Expense and credit to...
P4-2 (Algo) Recording Adjusting Entries L04-1 [The following information applies to the questions displayed below. All...
P4-2 (Algo) Recording Adjusting Entries L04-1 [The following information applies to the questions displayed below. All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31. a. On September 1 of the current year, Zimmerman collected six months' rent of $8,640 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $8,640. b. On October 1 of the current year,...
The trial balance for Blue Spruce Corp. is shown below. Credit Blue Spruce Corp. Trial Balance...
The trial balance for Blue Spruce Corp. is shown below. Credit Blue Spruce Corp. Trial Balance October 31, 2020 Debit Cash $16,000 Supplies 2.100 Prepaid Insurance 800 Equipment 4,600 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 300 $4,900 2,000 1,800 10,100 -0- 10,600 Service Revenue Salaries and Wages Expense Rent Expense 4,800 800 $29,400 $29,400 Assume the following adjustment data. 1. 2. 3. 4. Supplies on hand at October 31 total $600. Expired insurance for...
The unadjusted and adjusted trial balances for Tinker Corporation on December 31, 2015, are shown below:...
The unadjusted and adjusted trial balances for Tinker Corporation on December 31, 2015, are shown below: TINKER CORPORATION TRIAL BALANCES December 31, 2015 Unadjusted Adjusted Debit Credit Debit Credit Cash $ 35,200 $ 35,200 Accounts receivable 29,120 34,120 Unexpired insurance 1,200 600 Prepaid rent 5,400 3,600 Office supplies 680 380 Equipment 60,000 60,000 Accumulated depreciation: equipment $ 49,000 $ 50,000 Accounts payable 900 900 Notes payable 5,000 5,000 Interest payable 200 250 Salaries payable — 2,100 Income taxes payable 1,570...
need 2,4, and 5. SWIFTY CORPORATION Trial Balance October 31, 2017 Credit Debit $15,100 2,500 660...
need 2,4, and 5.
SWIFTY CORPORATION Trial Balance October 31, 2017 Credit Debit $15,100 2,500 660 4,500 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,500 2,000 1,200 10,000 500 13,000 4,000 3,440 $30,700 $30,700 Assume the following adjustment data. 1. 2. 3. Supplies on hand at October 31 total $510. Expired insurance for the month is $110. Depreciation for the month is...
2 Aa Bbcode Aa Bbccede AaBbceDe AalbCode AaBbc ADA harma No Spacing Heading 1 Heading 2...
2 Aa Bbcode Aa Bbccede AaBbceDe AalbCode AaBbc ADA harma No Spacing Heading 1 Heading 2 HIGHLIGHT IN YELLOW THE BEST ANSWER 1 - A law firm received $1560 cash for legal services to be rendered in the future. The full amount was credited to the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry is made, this would cause: revenues to be understated. expenses to...
On October 1, Goodwell Company rented warehouse space to a tenant for $4,200 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is: Multiple Choice Debit Unearned Rent. $12,600. credit Rent Earned, $12,600 O Debit Unearned Rent, $21,000, credit Rent Earned, $21000, Debit Unearned Rent,...
accounting help
The trial balance for Cheyenne Corp. is shown below. Credit Cheyenne Corp. Trial Balance October 31, 2020 Debit Cash $16,000 Supplies 2,800 Prepaid Insurance 800 Equipment 5,600 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 700 Service Revenue Salaries and Wages Expense 5,000 Rent Expense 900 $31,800 $4,800 2,400 1,500 11,700 -0- 11,400 $31,800 Assume the following adjustment data. 1. 2. 3. 4. 5. 6. 7. Supplies on hand at October 31 total $700....
16). The employees of Able Com oyees of Able Company have worked the last two weeks of Year 1, but the employees salaries have not been paid or recorded as of December 31, Year 1 been paid or recorded as of December 31. Year 1. The adjusting entry that Able should make to accrue these unpaid salaries on December 31, Year 1 is: A) debit to Salaries Expense and credit to Cash. B) debit to Salaries Expense and credit to...
P4-2 (Algo) Recording Adjusting Entries L04-1 [The following information applies to the questions displayed below. All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31. a. On September 1 of the current year, Zimmerman collected six months' rent of $8,640 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $8,640. b. On October 1 of the current year,...
The trial balance for Blue Spruce Corp. is shown below. Credit Blue Spruce Corp. Trial Balance October 31, 2020 Debit Cash $16,000 Supplies 2.100 Prepaid Insurance 800 Equipment 4,600 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 300 $4,900 2,000 1,800 10,100 -0- 10,600 Service Revenue Salaries and Wages Expense Rent Expense 4,800 800 $29,400 $29,400 Assume the following adjustment data. 1. 2. 3. 4. Supplies on hand at October 31 total $600. Expired insurance for...
need 2,4, and 5.
SWIFTY CORPORATION Trial Balance October 31, 2017 Credit Debit $15,100 2,500 660 4,500 Cash Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense $4,500 2,000 1,200 10,000 500 13,000 4,000 3,440 $30,700 $30,700 Assume the following adjustment data. 1. 2. 3. Supplies on hand at October 31 total $510. Expired insurance for the month is $110. Depreciation for the month is...
2 Aa Bbcode Aa Bbccede AaBbceDe AalbCode AaBbc ADA harma No Spacing Heading 1 Heading 2 HIGHLIGHT IN YELLOW THE BEST ANSWER 1 - A law firm received $1560 cash for legal services to be rendered in the future. The full amount was credited to the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry is made, this would cause: revenues to be understated. expenses to...
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