Homework Answers
Unearned Rent Revenue ................................................................ 31,000
Rent Revenue ................................................................ 31,000
Cash receipts $40,000
Beginning balance 6,000
Ending balance (15,000)
Rent revenue $31,000
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(CO B) Unearned rent at 1/1/1X was $6,000 and at 12/31/1X was $15,000. The records indicate...
Problem 2: This company's fiscal year is the calendar year. For the following data, it is...
Problem 2: This company's fiscal year is the calendar year. For the following data, it is advisable to set up a “T”-account for each item, with a beginning amount, an ending amount, and any “during the year” activity that takes place.....then, determine the "missing” adjusting entry. In other words, with this starting amount, this ending amount, and the stuff that happens in between, what adjusting entry do I need to take me to the correct ending figure? b) Unearned Rent...
Please need help with this problem!! ASAP Problem 2: This company's fiscal year is the calendar...
Please need help with this problem!! ASAP
Problem 2: This company's fiscal year is the calendar year. For the following data, it is advisable to set up a "T"- account for each item, with a beginning amount, an ending amount, and any "during the year activity that takes place.....then, determine the "missing" adjusting entry. In other words, with this starting amount, this ending amount, and the stuff that happens in between, what adjusting entry do I need to take me...
The following five situations are independent. Each situation requires either an end-of-period adjusting entry or a...
The following five situations are independent. Each situation requires either an end-of-period adjusting entry or a closing entry. Supply, showing supporting calculations, the required adjusting entry or closing entry which would logically account for the changes in the related account balances. 1. Unearned rent at Jan/1/2016 was $5,300 and at Dec/31/2016 was $6,000. The records indicate cash receipts from rental sources during 2016 amounted to $45,000, a of which was credited to the Unearned Rent Account. You are to prepare...
Hi, Please let me know my T-account Hi, I am trying to show up solution (1.)...
Hi, Please let me know my T-account
Hi, I am trying to show up solution (1.) into T-account for this
problem please help if any wrong as well as give me explain for
remaining questions.
Thanks
Pr. 3-134—Adjusting entries.
Data relating to the balances of various accounts affected by
adjusting or closing entries appear below. (The entries which
caused the changes in the balances are not given.) You are asked to
supply the missing journal entries which would logically account...
Jade Company December 31, 2018 Unadjusted Trial Balance 130,000 25,000 15,000 12,000 100,000 14,000 64,000 Cash...
Jade Company December 31, 2018 Unadjusted Trial Balance 130,000 25,000 15,000 12,000 100,000 14,000 64,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 35,000 9,000 13,600 12,500 40,000 35,000 65,700 4,000 576,000 1,800 50,000 6,000 64,000 10,000 190,000 50,000 6,000...
A partial trial balance of Kingbird Corporation is as follows on December 31, 2021. Dr. Cr....
A partial trial balance of Kingbird Corporation is as follows on
December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
A partial trial balance of Kingbird Corporation is as follows on December 31, 2021. Dr. Cr....
A partial trial balance of Kingbird Corporation is as follows
on December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
A partial trial balance of Kingbird Corporation is as follows on December 31, 2021. Dr. Cr....
A partial trial balance of Kingbird Corporation is as follows on
December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
Question 1 options: The prepaid insurance balance reflects a 12-month insurance policy which started on Sept....
Question 1 options: The prepaid insurance balance reflects a 12-month insurance policy which started on Sept. 1, 2018, and no adjustments were made from Sept. 1 – Dec. 31, 2018. Write the adjusting journal entry for Dec. 31, 2018. In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited. Dr. [1]_______________ [2]$_____________ Cr. [3]________________...
A partial trial balance of Pina Corporation is as follows on December 31, 2018. Dr. Cr....
A partial trial balance of Pina Corporation is as follows on
December 31, 2018.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,500
Interest Receivable
5,100
Prepaid Insurance
95,700
Unearned Rent
0
Interest Payable
15,400
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2018,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2018. Accrued salaries and wages on December 31,
2018, amounted to $4,400.
3.
The Interest...
Problem 2: This company's fiscal year is the calendar year. For the following data, it is advisable to set up a “T”-account for each item, with a beginning amount, an ending amount, and any “during the year” activity that takes place.....then, determine the "missing” adjusting entry. In other words, with this starting amount, this ending amount, and the stuff that happens in between, what adjusting entry do I need to take me to the correct ending figure? b) Unearned Rent...
Please need help with this problem!! ASAP
Problem 2: This company's fiscal year is the calendar year. For the following data, it is advisable to set up a "T"- account for each item, with a beginning amount, an ending amount, and any "during the year activity that takes place.....then, determine the "missing" adjusting entry. In other words, with this starting amount, this ending amount, and the stuff that happens in between, what adjusting entry do I need to take me...
The following five situations are independent. Each situation requires either an end-of-period adjusting entry or a closing entry. Supply, showing supporting calculations, the required adjusting entry or closing entry which would logically account for the changes in the related account balances. 1. Unearned rent at Jan/1/2016 was $5,300 and at Dec/31/2016 was $6,000. The records indicate cash receipts from rental sources during 2016 amounted to $45,000, a of which was credited to the Unearned Rent Account. You are to prepare...
Hi, Please let me know my T-account
Hi, I am trying to show up solution (1.) into T-account for this
problem please help if any wrong as well as give me explain for
remaining questions.
Thanks
Pr. 3-134—Adjusting entries.
Data relating to the balances of various accounts affected by
adjusting or closing entries appear below. (The entries which
caused the changes in the balances are not given.) You are asked to
supply the missing journal entries which would logically account...
Jade Company December 31, 2018 Unadjusted Trial Balance 130,000 25,000 15,000 12,000 100,000 14,000 64,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 35,000 9,000 13,600 12,500 40,000 35,000 65,700 4,000 576,000 1,800 50,000 6,000 64,000 10,000 190,000 50,000 6,000...
A partial trial balance of Kingbird Corporation is as follows on
December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
A partial trial balance of Kingbird Corporation is as follows
on December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
A partial trial balance of Kingbird Corporation is as follows on
December 31, 2021.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,600
Interest Receivable
5,200
Prepaid Insurance
97,100
Unearned Rent
0
Interest Payable
13,700
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2021,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2021. Accrued salaries and wages on December 31,
2021, amounted to $4,600.
3.
The Interest...
A partial trial balance of Pina Corporation is as follows on
December 31, 2018.
Dr.
Cr.
Supplies
$2,900
Salaries and wages payable
$1,500
Interest Receivable
5,100
Prepaid Insurance
95,700
Unearned Rent
0
Interest Payable
15,400
Additional adjusting data:
1.
A physical count of supplies on hand on December 31, 2018,
totaled $1,200.
2.
Through oversight, the Salaries and Wages Payable account was
not changed during 2018. Accrued salaries and wages on December 31,
2018, amounted to $4,400.
3.
The Interest...
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