Transaction | General Journal | Debit | Credit |
$ | $ | ||
1. | Supplies Expense ( 945 + 1,955 - 840) | 2,060 | |
Prepaid Supplies | 2,060 | ||
2. | Depreciation Expense ( 47,520 / 12 * 5 / 12 ) | 1,650 | |
Accumulated Depreciation: Equipment | 1,650 | ||
3. | Unearned Revenue ( 450 x 220 ) / 2 | 49,500 | |
Revenue Earned | 49,500 | ||
4. | Salaries Expense ( 4,740 / 5 ) * 2 | 1,896 | |
Salaries Payable | 1,896 | ||
5. | Accounts Receivable ( 785 - 560) | 225 | |
Rent Revenue | 225 | ||
6. | Interest Expense ( 27,600 x 5 % ) * 7 / 12 | 805 | |
Interest Payable | 805 | ||
7. | Telephone Expense | 575 | |
Accounts Payable | 575 |
Tell me what you want to do Question 111 (40 marks) Company A's business involves hosting...
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uneamed revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August...
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash. On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August...
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uneamed revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August...
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uncared revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash. On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August...
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uneamed revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August 1, 2021, for $47,520...
Question I (40 marks) Company A's business involves hosting several concerts per year. The company's year and is December 31, 2021. The company records all prepaid costs assets and all earned reveses a abilities and adjusts accounts annually 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1.955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to 5840. 2. Purchased equipment on August...
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940. 2. Purchased equipment on August 1, 2021,...
Heading 2 Paragraph H Question #1 (40 marks) Styles Company A's business involves hosting several concerts per year. The company's year end is December 31, 2021. The company records all prepaid costs as assets and all un earned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for S1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940....
Question #1 (40 marks) Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940. 2. Purchased equipment on August 1, 2021,...
Question #1 (40 marles) Company A's business involves hosting several concerts per year. The company's year-end in December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940. 2. Purchased equipment on August 1, 2021,...