Homework Answers
| Date | Accounting titles and Explanations | Debit | Credit |
| Dec. 31 | Depreciation Expense | $ 12,600 | |
| Accumulated Depreciation - Office building | $ 12,600 | ||
| (To record the Depreciation Expense ) |
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Depreciation on an office building is $12,600. The adjusting entry on December 31 would be: (If...
Depreciation on an office building is $8,900. The adjusting entry on December 31 would be: (if...
Depreciation on an office building is $8,900. The adjusting entry on December 31 would be: (if an amount box does not require an entry, leave it blank.) Dec. 31
A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December...
A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.) Dec. 31 Accounts Payable Cash Insurance Expense Insurance Payable Prepaid Insurance
On December 31, the balance in the office supplies account is $1,385. A physical count shows...
On December 31, the balance in the office supplies account is $1,385. A physical count shows $435 worth of supplies on hand Prepare the adjusting entry for office supplies. If an amount box does not require an entry, leave it blank. Dec. 31
Journalizing Adjusting Entries Journalize the following adjusting entries in the general journal below. 1. The supplies...
Journalizing Adjusting Entries
Journalize the following adjusting entries in the general journal
below. 1. The supplies expense for the month is $730. 2. The
insurance expense for the month is $680. 3. The depreciation
expense for delivery equipment is $200. 4. At the end of the month
$100 of wages is payable. If an amount box does not require an
entry, leave it blank.
If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,970....
Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,970. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank. Accounts Payable Accumulated Depreciation Equipment Depreciation Expense Depreciation Payable Equipment Expense Equipment Equipment Payable
Calculator A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on...
Calculator A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.) Dec. 31
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260...
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260 Land 153,250 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable 150,720 109,150 13,370 7,590 325,800 Unearned Rent 16,630 361,430 Suzanne Emerson, Capital Suzanne Emerson, Drawing Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 215,410 47,350 25,300 19,160 6,870 970,590 970,590 The data needed to determine year-end adjustments are as follows: • Unexpired insurance at October 31, $5,330. •...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 Service Revenue 99,600 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Tax Expense Totals 49,400 17,250 2,200 4,950 5,400 144,980 144,980 Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
Depreciation on an office building is $8,900. The adjusting entry on December 31 would be: (if an amount box does not require an entry, leave it blank.) Dec. 31
A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.) Dec. 31 Accounts Payable Cash Insurance Expense Insurance Payable Prepaid Insurance
On December 31, the balance in the office supplies account is $1,385. A physical count shows $435 worth of supplies on hand Prepare the adjusting entry for office supplies. If an amount box does not require an entry, leave it blank. Dec. 31
Journalizing Adjusting Entries
Journalize the following adjusting entries in the general journal
below. 1. The supplies expense for the month is $730. 2. The
insurance expense for the month is $680. 3. The depreciation
expense for delivery equipment is $200. 4. At the end of the month
$100 of wages is payable. If an amount box does not require an
entry, leave it blank.
If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,970. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank. Accounts Payable Accumulated Depreciation Equipment Depreciation Expense Depreciation Payable Equipment Expense Equipment Equipment Payable
Calculator A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.) Dec. 31
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260 Land 153,250 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable 150,720 109,150 13,370 7,590 325,800 Unearned Rent 16,630 361,430 Suzanne Emerson, Capital Suzanne Emerson, Drawing Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 215,410 47,350 25,300 19,160 6,870 970,590 970,590 The data needed to determine year-end adjustments are as follows: • Unexpired insurance at October 31, $5,330. •...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 Service Revenue 99,600 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Tax Expense Totals 49,400 17,250 2,200 4,950 5,400 144,980 144,980 Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
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