Homework Answers
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| Dec 31 | Depreciation expense - Office equipmet | 3,310 | |
| Accumulated depreciation - Office equipment | 3,310 | ||
| (To record deppreciation on office equipment) | |||
| Dec 31 | Depreciation expense - Production equipmet | 6,700 | |
| Accumulated depreciation - Production equipment | 6,700 | ||
| (To record deppreciation on production equipment) |
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DogMart Company records depreciation for equipment. Depreciation for the period ending December 31 is $3,310 for...
Gizmo Inc. purchased a one-year insurance policy on October 1 for $5,520. Required: Prepare the adjusting...
Gizmo Inc. purchased a one-year insurance policy on October 1 for $5,520. Required: Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Gizmo Inc. General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 16 Office Building 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 17 Accumulated Depreciation Office Building 54 Wages Expense LIABILITIES 55 Supplies Expense 21...
Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham...
Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty • The supplies account balance on December 31 is $1,375. The supplies on hand on December 31 are $280. • The unearned rent account balance on December 31 is 89,000 representing the receipt of an advance payment on December 1 of four months' rent from tenants. . Wages accrued but not paid at December 31 are $3.220. • Fees earned but unbilled at...
Chart of Accounts structions Al the end of the current year, 559,500 of fees have been...
Chart of Accounts structions Al the end of the current year, 559,500 of fees have been earned but have not been biled to clients. Required: A Journalize the adjusting entry to record the accrued fees on December 31. Refer to the Chart of Accounts for exact wording of account bites. B. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? LIABILITIES 56 Utilities Expense 57 Depreciation Expense 21 Accounts Payable...
On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty:...
On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty: • The supplies account balance on December 31 is $5,635. The supplies on hand on December 31 are $1,495. • The unearned rent account balance on December 31 is $4,600 representing the receipt of an advance payment on December 1 of four months’ rent from tenants. • Wages accrued but not paid at December 31 are $2,035. • Fees earned but unbilled at December...
On March 31, the following data were accumulated to assist the accountant in preparing the adjusting...
On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty: · The supplies account balance on March 31 is $5,225, the supplies on hand on March 31 are $1,275. • The unearned rent account balance on March 31 is $5,700 representing the receipt of an advance payment on March 1 of four months' rent from tenants. • Wages accrued but not paid at March 31 are $2,485. • Fees accrued...
• The supplies account balance on March 31 is $6,620, the supplies on hand on March...
• The supplies account balance on March 31 is $6,620, the supplies on hand on March 31 are $1,290. • The unearned rent account balance on March 31 is $5,000 representing the receipt of an advance payment on March 1 of four months' rent from tenants. Wages accrued but not paid at March 31 are $2,290. • Fees accrued but unbilled at March 31 are $16,825 • Depreciation of office equipment is $4,600. Required: 1. Journalize the adjusting entries required...
The balance in the unearned fees account, before adjustment atthe end of the year, is...
The balance in the unearned fees account, before adjustment at
the end of the year, is $95,500. Of these fees, $82,760 have been
earned. In addition, $32,640 of fees have been earned but have not
been billed.Journalize the December 31 adjusting entries (a) to adjust the
unearned fees account and (b) to record the accrued fees. Refer to
the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTSGeneral LedgerASSETS11 Cash12 Accounts Receivable13 Supplies14 Prepaid Insurance15 Land16 Equipment17 Accumulated...
culator justing entries Instructions Journal Chart of Accounts HI Final Question Instructions On December 31, the...
culator justing entries Instructions Journal Chart of Accounts HI Final Question Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty • The supplies account balance on December 31 is $5,210. The supplies on hand on December 31 are $1,135. The uneared rent account balance on December 31 is $5,600 representing the receipt of an advance payment on December 1 of four months rent from tenants. • Wages accrued but not paid at...
Chart of Accounts Journal Final Question On December 31, the following data were accumulated for preparing...
Chart of Accounts Journal Final Question On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Really The supplies account balance on December 31 is $5,865, The supplies on hand on December 31 are $1,330 The uneamed rent account balance on December 31 is SA, 100 representing the receipt of an advance pay menton Dece ber 1four months rent from tenants Wages accrued but not paid at December 31 are $2,030 Fees eaned but unbilled...
Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant...
Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty • The suppiles account balance on March 31 is $5,635, the supplies on hand on March 31 are $1,495. • The unearned rent account balance on March 31 is 84,800 representing the receipt of an advance payment on March 1 of four months' rent from tenants, • Wages accrued but not paid at March 31 aro...
Gizmo Inc. purchased a one-year insurance policy on October 1 for $5,520. Required: Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Gizmo Inc. General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 16 Office Building 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 17 Accumulated Depreciation Office Building 54 Wages Expense LIABILITIES 55 Supplies Expense 21...
Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty • The supplies account balance on December 31 is $1,375. The supplies on hand on December 31 are $280. • The unearned rent account balance on December 31 is 89,000 representing the receipt of an advance payment on December 1 of four months' rent from tenants. . Wages accrued but not paid at December 31 are $3.220. • Fees earned but unbilled at...
Chart of Accounts structions Al the end of the current year, 559,500 of fees have been earned but have not been biled to clients. Required: A Journalize the adjusting entry to record the accrued fees on December 31. Refer to the Chart of Accounts for exact wording of account bites. B. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? LIABILITIES 56 Utilities Expense 57 Depreciation Expense 21 Accounts Payable...
On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty: · The supplies account balance on March 31 is $5,225, the supplies on hand on March 31 are $1,275. • The unearned rent account balance on March 31 is $5,700 representing the receipt of an advance payment on March 1 of four months' rent from tenants. • Wages accrued but not paid at March 31 are $2,485. • Fees accrued...
• The supplies account balance on March 31 is $6,620, the supplies on hand on March 31 are $1,290. • The unearned rent account balance on March 31 is $5,000 representing the receipt of an advance payment on March 1 of four months' rent from tenants. Wages accrued but not paid at March 31 are $2,290. • Fees accrued but unbilled at March 31 are $16,825 • Depreciation of office equipment is $4,600. Required: 1. Journalize the adjusting entries required...
The balance in the unearned fees account, before adjustment at
the end of the year, is $95,500. Of these fees, $82,760 have been
earned. In addition, $32,640 of fees have been earned but have not
been billed.Journalize the December 31 adjusting entries (a) to adjust the
unearned fees account and (b) to record the accrued fees. Refer to
the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTSGeneral LedgerASSETS11 Cash12 Accounts Receivable13 Supplies14 Prepaid Insurance15 Land16 Equipment17 Accumulated...
culator justing entries Instructions Journal Chart of Accounts HI Final Question Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty • The supplies account balance on December 31 is $5,210. The supplies on hand on December 31 are $1,135. The uneared rent account balance on December 31 is $5,600 representing the receipt of an advance payment on December 1 of four months rent from tenants. • Wages accrued but not paid at...
Chart of Accounts Journal Final Question On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Really The supplies account balance on December 31 is $5,865, The supplies on hand on December 31 are $1,330 The uneamed rent account balance on December 31 is SA, 100 representing the receipt of an advance pay menton Dece ber 1four months rent from tenants Wages accrued but not paid at December 31 are $2,030 Fees eaned but unbilled...
Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty • The suppiles account balance on March 31 is $5,635, the supplies on hand on March 31 are $1,495. • The unearned rent account balance on March 31 is 84,800 representing the receipt of an advance payment on March 1 of four months' rent from tenants, • Wages accrued but not paid at March 31 aro...
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