Homework Answers
a depreciation expense ...5,500
to accumulated depreciation..... 5,500
(being depreciation for the year recorded)
b insurance expense ...(2500-850) 1,650
To prepaid insurance... 1650
(being expired portion of prepaid insurance charged off)
c. Advance from customers/ unbilled revenue ......(4500/3) 1500
To consulting revenue .... 1500
(being amount of revenue recognised for 1/3 work completed)
d.wages expense... 1700
to wages payable..... 1700
(being wage accrual entry posted)
e interest receivale.... 450
to interest income....450
(being interest on investments accrued)
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Saved mework B 0 2. As of December 31, the company has earned, but not yet...
For each of the above separate cases, prepare adjusting entries required of financial stal December 31...
For each of the above separate cases, prepare adjusting entries required of financial stal December 31 View transaction list Journal entry worksheet < 0 * 435 The company has earned (but not recorded) $750 of interest revenue for the year ended December 31. The interest payment will be received on 10 days after the year-end January 10. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general jour < Prey 2 of 4 !
Exercise 3-6 Preparing adjusting entries LO P1, P2, P3, P4 a. Depreciation on the company's wind...
Exercise 3-6 Preparing adjusting entries LO P1, P2, P3, P4 a. Depreciation on the company's wind turbine equipment for the year is $5,100. b. The Prepaid Insurance account for the solar panels had a $2,100 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $650 of unexpired insurance coverage remains at year-end. c. The company received $3,300 cash in advance for sustainability consulting work. As of December 31, one-third...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2.200 have been incurred but are not paid as of December 31. c. M&R Company has a $6,200 bank loan and has incurred (but not recorded) 8% interest expense of $496 for the year ended December 31. The company will pay the $496 interest in cash on...
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b....
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,320 e. The Office Supplies account had a $140 debit balance at the beginning of the year. During the year, $5,761 of office supplies are purchased. A physical count of supplies at December 31 shows $626 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b....
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
December 31 View transaction list Journal entry worksheet < 0 2 3 4 5 6 Depreciation...
December 31 View transaction list Journal entry worksheet < 0 2 3 4 5 6 Depreciation on the company's equipment for the year is $10,120. Note: Enter debits before credits. Transaction General Journal Credit Debit 10,120 10,120 Record entry Clear entry View general journal View transaction list Journal entry worksheet < 2 3 4 4 5 6 The Office Supplies account had a $320 debit balance at the beginning of December. During December, $5,942 of office supplies are purchased. A...
Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on...
Wages of $8,000 are earned by workers but not paid as of
December 31.
Depreciation on the company’s equipment for the year is
$10,840.
The Office Supplies account had a $350 debit balance at the
beginning of the year. During the year, $4,791 of office supplies
are purchased. A physical count of supplies at December 31 shows
$529 of supplies available.
The Prepaid Insurance account had a $5,000 balance at the
beginning of the year. An analysis of insurance policies...
a. Depreciation on the company's wind turbine equipment for the year is $5.700. b. The Prepaid...
a. Depreciation on the company's wind turbine equipment for the year is $5.700. b. The Prepaid Insurance account for the solar panels had a $2,700 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid Insurance shows that $950 of unexpired Insurance coverage remains at year-end. c. The company received $5,100 cash in advance for sustainability consulting work. As of December 31, one-third of the sustainability consulting work had been performed. d. As...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December 31: Common Stock $10,300; Dividends $1.450, Services Revenue $26,000: Wages Expense $14.900; and Rent Expense $4,200. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debit before credits General Journal Debit Credit Date Dec 31 Prepare its Dec closing entries. 0:57:58 View transaction is Journal entry worksheet A...
a. Wages of $8,000 are earned by workers but not paid as of December 31. b....
a. Wages of $8,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $18,000. The Office Supplies account had a $240 debit balance at the beginning of December. During December, $5,200 of office supplies are purchased. A physical count of supplies at December 31 shows $440 of supplies available. d. The Prepaid Insurance account had a $4,000 balance at the beginning of December. An analysis of insurance policies...
For each of the above separate cases, prepare adjusting entries required of financial stal December 31 View transaction list Journal entry worksheet < 0 * 435 The company has earned (but not recorded) $750 of interest revenue for the year ended December 31. The interest payment will be received on 10 days after the year-end January 10. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general jour < Prey 2 of 4 !
Exercise 3-6 Preparing adjusting entries LO P1, P2, P3, P4 a. Depreciation on the company's wind turbine equipment for the year is $5,100. b. The Prepaid Insurance account for the solar panels had a $2,100 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $650 of unexpired insurance coverage remains at year-end. c. The company received $3,300 cash in advance for sustainability consulting work. As of December 31, one-third...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2.200 have been incurred but are not paid as of December 31. c. M&R Company has a $6,200 bank loan and has incurred (but not recorded) 8% interest expense of $496 for the year ended December 31. The company will pay the $496 interest in cash on...
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,320 e. The Office Supplies account had a $140 debit balance at the beginning of the year. During the year, $5,761 of office supplies are purchased. A physical count of supplies at December 31 shows $626 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
December 31 View transaction list Journal entry worksheet < 0 2 3 4 5 6 Depreciation on the company's equipment for the year is $10,120. Note: Enter debits before credits. Transaction General Journal Credit Debit 10,120 10,120 Record entry Clear entry View general journal View transaction list Journal entry worksheet < 2 3 4 4 5 6 The Office Supplies account had a $320 debit balance at the beginning of December. During December, $5,942 of office supplies are purchased. A...
Wages of $8,000 are earned by workers but not paid as of
December 31.
Depreciation on the company’s equipment for the year is
$10,840.
The Office Supplies account had a $350 debit balance at the
beginning of the year. During the year, $4,791 of office supplies
are purchased. A physical count of supplies at December 31 shows
$529 of supplies available.
The Prepaid Insurance account had a $5,000 balance at the
beginning of the year. An analysis of insurance policies...
a. Depreciation on the company's wind turbine equipment for the year is $5.700. b. The Prepaid Insurance account for the solar panels had a $2,700 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid Insurance shows that $950 of unexpired Insurance coverage remains at year-end. c. The company received $5,100 cash in advance for sustainability consulting work. As of December 31, one-third of the sustainability consulting work had been performed. d. As...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December 31: Common Stock $10,300; Dividends $1.450, Services Revenue $26,000: Wages Expense $14.900; and Rent Expense $4,200. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debit before credits General Journal Debit Credit Date Dec 31 Prepare its Dec closing entries. 0:57:58 View transaction is Journal entry worksheet A...
a. Wages of $8,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $18,000. The Office Supplies account had a $240 debit balance at the beginning of December. During December, $5,200 of office supplies are purchased. A physical count of supplies at December 31 shows $440 of supplies available. d. The Prepaid Insurance account had a $4,000 balance at the beginning of December. An analysis of insurance policies...
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