Homework Answers
Add Answer to:
1. Depreciation on equipment is $800 for the accounting period. 2. There was no beginning balance...
1. Depreciation on equipment is $800 for the accounting period. 2. There was no beginning balance...
1.
Depreciation on equipment is $800 for the accounting
period.
2.
There was no beginning balance of supplies and $600 of supplies
were purchased during the period. At the end of the period $153 of
supplies were on hand.
3.
Prepaid rent had a $1,240 normal balance prior to adjustment.
By year end $288 was unexpired.
Prepare adjusting entries for the above transactions.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. If no...
1) The supplies account has a balance of $3,000 at the beginning of the year and...
1) The supplies account has a balance of $3,000 at the beginning of the year and was debited during the year for $1,400, representing the total of supplies purchased during the year. If $800 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is ______________? 2) ABC, Inc. Made a Prepaid Rent payment of $4,000 on January 1st. The company's monthly rent is $800. The...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) 1. 2. 3. 4. 5. Depreciation on equipment is $1,396 for the accounting period. Interest owed on a loan but not paid or recorded is $292. There was no beginning balance of supplies and $572 of office supplies were purchased...
a. Depreciation on the company's equipment for the year is computed to be $18,000. b. The...
a. Depreciation on the company's equipment for the year is computed to be $18,000. b. The Prepaid Insurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,100 of unexpired Insurance coverage remains. c. The Office Supplies account had a $700 debit balance at the beginning of the year, and $3,480 of office supplies were purchased during the year. The December 31...
3. Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was...
3. Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was unexpired. No. Account Titles and Explanation Debit Credit 1. Depreciation Expense 900 900 Accumulated Depreciation Equipment 2 450 Supplies Expense Supplies 450 3.
a. Depreciation on the company's equipment for the year is computed to be $11,000. b. The...
a. Depreciation on the company's equipment for the year is computed to be $11,000. b. The Prepaid Insurance account had a $5,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,800 of unexpired insurance coverage remains. c. The Office Supplies account had a $410 debit balance at the beginning of the year, and $2,680 of office supplies were purchased during the year. The December 31...
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100....
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $18.000. b. The Prepaid Insurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains. c. The Office Supplies account had a $700 debit balance at the beginning of the year, and $3.480 of office...
The accounting records of Foley Architects include the following selected, unadjusted balances at March 31: Accounts...
The accounting records of Foley Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,300; Office Supplies, $1,000; Prepaid Rent, $2,250; Equipment, $9,500; Accumulated Depreciation Equipment, $0, Salaries Payable, $O; Unearned Revenue, $500; Service Revenue, $4,600; Salaries Expense, $800; Supplies Expense, $O; Rent Expense, $0; Depreciation Expense-Equipment, $0. The data developed for the March 31 adjusting entries are as follows: (Click the icon to view the data.) Read the requirements Requirement 1. Journalize the adjusting entries using...
a. Depreciation on the company's equipment for the year is computed to be $15,000. b. The...
a. Depreciation on the company's equipment for the year is computed to be $15,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,930 of unexpired insurance coverage remains. c. The Office Supplies account had a $320 debit balance at the beginning of December, and $2,680 of office supplies were purchased in December. The December 31 physical count...
1.
Depreciation on equipment is $800 for the accounting
period.
2.
There was no beginning balance of supplies and $600 of supplies
were purchased during the period. At the end of the period $153 of
supplies were on hand.
3.
Prepaid rent had a $1,240 normal balance prior to adjustment.
By year end $288 was unexpired.
Prepare adjusting entries for the above transactions.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. If no...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) 1. 2. 3. 4. 5. Depreciation on equipment is $1,396 for the accounting period. Interest owed on a loan but not paid or recorded is $292. There was no beginning balance of supplies and $572 of office supplies were purchased...
a. Depreciation on the company's equipment for the year is computed to be $18,000. b. The Prepaid Insurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,100 of unexpired Insurance coverage remains. c. The Office Supplies account had a $700 debit balance at the beginning of the year, and $3,480 of office supplies were purchased during the year. The December 31...
3. Prepaid rent had a $1.000 normal balance prior to adjustment. By year end $400 was unexpired. No. Account Titles and Explanation Debit Credit 1. Depreciation Expense 900 900 Accumulated Depreciation Equipment 2 450 Supplies Expense Supplies 450 3.
a. Depreciation on the company's equipment for the year is computed to be $11,000. b. The Prepaid Insurance account had a $5,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,800 of unexpired insurance coverage remains. c. The Office Supplies account had a $410 debit balance at the beginning of the year, and $2,680 of office supplies were purchased during the year. The December 31...
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
Exercise 3-1 Preparing adjusting entries LO P1, P2, P3 a. Depreciation on the company's equipment for the year is computed to be $18.000. b. The Prepaid Insurance account had a $6.000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains. c. The Office Supplies account had a $700 debit balance at the beginning of the year, and $3.480 of office...
The accounting records of Foley Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,300; Office Supplies, $1,000; Prepaid Rent, $2,250; Equipment, $9,500; Accumulated Depreciation Equipment, $0, Salaries Payable, $O; Unearned Revenue, $500; Service Revenue, $4,600; Salaries Expense, $800; Supplies Expense, $O; Rent Expense, $0; Depreciation Expense-Equipment, $0. The data developed for the March 31 adjusting entries are as follows: (Click the icon to view the data.) Read the requirements Requirement 1. Journalize the adjusting entries using...
a. Depreciation on the company's equipment for the year is computed to be $15,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,930 of unexpired insurance coverage remains. c. The Office Supplies account had a $320 debit balance at the beginning of December, and $2,680 of office supplies were purchased in December. The December 31 physical count...
Most questions answered within 3 hours.
-
A siren on an emergency car moving with velocity 90 km/hour
produces the sound with frequency...
asked 9 seconds ago -
Consider the schema below that models a bank’s branches,
customers and their accounts and loans. Provide...
asked 7 minutes ago -
What kinds of policies should be considered when individuals
decisions may likely impact public expense? For...
asked 15 minutes ago -
The financial statements of Apple Inc. show the following
numbers for fiscal year 2017 ($000,000):
Revenue...
asked 20 minutes ago -
Suppose that you are given the following results. Find the
correlation coefficient of the data.
sx...
asked 30 minutes ago -
The width of a tool used for semiconductor manufacturing
is assumed to be normally distributed with...
asked 32 minutes ago -
A
runaway train car that has a mass of 1,400 kg travels at a speed of...
asked 36 minutes ago -
The expected abnormal earnings of a firm that has earnings of
$40,000 with a required equity...
asked 34 minutes ago -
A spherical surface completely surrounds a collection of
charges. Find the electric flux through the surface...
asked 49 minutes ago -
Two capacitors with capacitances of 12 and 18.1 µF,
respectively, are connected in parallel. The system...
asked 36 minutes ago -
Let's say you are a small business owner that provides
business-to-business software-as-a-service to non-profit
organizations. Your...
asked 41 minutes ago -
A circuit is constructed with five resistors and a battery as
shown. The battery voltage is...
asked 49 minutes ago