Homework Answers
Answer
--Requirement asked
| 1 | Service Revenue |
| 2 | Insurance Expense |
| 3 | Service Revenue |
| 4 | Accumulated Depreciation - Equipment |
| 5 | Utilities Payable |
| 6 | Interest Expense |
| 7 | Account receivables or Unearned Service revenue |
| 8 | Interest Revenue |
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just need 1, 3, 7
One part of an adjustment is given below. Indicate the account...
Chapter 3 Hand-out Assignment Question 1 One part of an adjusting entry is given below: 1....
Chapter 3 Hand-out Assignment Question 1 One part of an adjusting entry is given below: 1. Unearned Revenue is debited. 2. Prepaid Rent is credited. 3. Accounts Receivable is debited. 4. Depreciation Expense is debited. 5. Utilities Expense is debited. (give two possible debit accounts). 6. Interest Payable is credited. 7. Service Revenue is credited (give two possible debit accounts). 8. Interest Receivable is debited. Instructions Indicate the account title for the other part of the entry.
I need help! My numbers still don’t add up Project 1: Part 3 3. Prepare an...
I need help! My numbers still don’t add up
Project 1: Part 3 3. Prepare an unadjusted trial balance using the T-Account balan January 31 Account Title Debit Credit Cash $ 11,108 Accounts Receivable 5,595 Supplies Prepaid Insurance Prepaid Rent Equipment 6,780 3,150 38,400 Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Notes Payable Wages Payable Interest Payable Contributed Capital Retained Earnings Service Revenue Wages Expenses Supplies Expenses Depreciation Expense 25,000 1.150 23,000 460 2.300 Interest Expense Utilities Expense 725 S 68,058...
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment....
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (b) the related account in the adjusting entry. (a) Type of Adjustment (b) Related Account Account Accounts Receivable Prepaid Insurance Accumulated Depreciation Equipment Interest Payable Unearned Service Revenue The adjusted trial balance of Parsons Company at December 31, 2020, includes the...
Print 6. Houston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the...
Print 6. Houston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet) Read the requirements Requirement 1. Complete the worksheet for Houston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Houston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Balance Sheet Statement Account Names Debit Credit Debit Credit Debit Credit...
Sunland Company, opened an incorporated dental practice on January 1, 2017. During the first month of...
Sunland Company, opened an incorporated dental practice on
January 1, 2017. During the first month of operations, the
following transactions occurred.
1.
Performed services for patients who had dental plan insurance.
At January 31, $900 of such services was completed but not yet
billed to the insurance companies.
2.
Utility expenses incurred but not paid prior to January 31
totaled $790.
3.
Purchased dental equipment on January 1 for $86,650, paying
$22,200 in cash and signing a $64,450, 3-year note...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account,...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account, indicate the normal balance and identify the financial statement where found. For example, your answers should be entered in the following format EXAMPLE Account Normal Balance Financial Statement Cash Debit Balance Sheet Financial Statement Normal Balance Credit T Account Utilities Payable Accounts Receivable Interest Revenue Equipment Owner's Drawings Salaries and Wages Expense Prepaid Insurance Accumulated Depreciation- Equipment Service Revenue Mortgage Payable Advertising Expense Accumulated...
Print 6. The following data at July 31, 2018, are given for RCO: (Click the icon...
Print 6. The following data at July 31, 2018, are given for RCO: (Click the icon to view the data.) Read the requirements Requirement 1. Joumalize the adjusting entries needed on July 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) a. Depreciation. $600. Date Accounts and Explanation Debit Credit (a) Jul 31 (1) (2) b. Prepaid rent expires, $200. (Assume that RCO debits an asset account when rent is...
The Tamarisk, Inc. opened for business on May 1, 2020. Its trial balance before adjustment on...
The Tamarisk, Inc. opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. Tamarisk, Inc. Trial Balance May 31, 2020 Credit Debit Account Number $ 3,500 Cash 101 2,150 Supplies 126 Prepaid Insurance 2,400 130 14,000 140 Land Buildings 59,000 141 14,800 Equipment 149 $ 11,400 Accounts Payable 201 Unearned Rent Revenue 3,200 208 Mortgage Payable 40,000 275 Common Stock 35,500 311 10,350 429 Rent Revenue Advertising Expense 550 610 Salaries and...
Print 3. Consider the following independent situations at December 31: Click the icon to view the...
Print 3. Consider the following independent situations at December 31: Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the joumal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. Al...
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...
Chapter 3 Hand-out Assignment Question 1 One part of an adjusting entry is given below: 1. Unearned Revenue is debited. 2. Prepaid Rent is credited. 3. Accounts Receivable is debited. 4. Depreciation Expense is debited. 5. Utilities Expense is debited. (give two possible debit accounts). 6. Interest Payable is credited. 7. Service Revenue is credited (give two possible debit accounts). 8. Interest Receivable is debited. Instructions Indicate the account title for the other part of the entry.
I need help! My numbers still don’t add up
Project 1: Part 3 3. Prepare an unadjusted trial balance using the T-Account balan January 31 Account Title Debit Credit Cash $ 11,108 Accounts Receivable 5,595 Supplies Prepaid Insurance Prepaid Rent Equipment 6,780 3,150 38,400 Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Notes Payable Wages Payable Interest Payable Contributed Capital Retained Earnings Service Revenue Wages Expenses Supplies Expenses Depreciation Expense 25,000 1.150 23,000 460 2.300 Interest Expense Utilities Expense 725 S 68,058...
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (b) the related account in the adjusting entry. (a) Type of Adjustment (b) Related Account Account Accounts Receivable Prepaid Insurance Accumulated Depreciation Equipment Interest Payable Unearned Service Revenue The adjusted trial balance of Parsons Company at December 31, 2020, includes the...
Print 6. Houston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet) Read the requirements Requirement 1. Complete the worksheet for Houston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Houston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Balance Sheet Statement Account Names Debit Credit Debit Credit Debit Credit...
Sunland Company, opened an incorporated dental practice on
January 1, 2017. During the first month of operations, the
following transactions occurred.
1.
Performed services for patients who had dental plan insurance.
At January 31, $900 of such services was completed but not yet
billed to the insurance companies.
2.
Utility expenses incurred but not paid prior to January 31
totaled $790.
3.
Purchased dental equipment on January 1 for $86,650, paying
$22,200 in cash and signing a $64,450, 3-year note...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account, indicate the normal balance and identify the financial statement where found. For example, your answers should be entered in the following format EXAMPLE Account Normal Balance Financial Statement Cash Debit Balance Sheet Financial Statement Normal Balance Credit T Account Utilities Payable Accounts Receivable Interest Revenue Equipment Owner's Drawings Salaries and Wages Expense Prepaid Insurance Accumulated Depreciation- Equipment Service Revenue Mortgage Payable Advertising Expense Accumulated...
Print 6. The following data at July 31, 2018, are given for RCO: (Click the icon to view the data.) Read the requirements Requirement 1. Joumalize the adjusting entries needed on July 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) a. Depreciation. $600. Date Accounts and Explanation Debit Credit (a) Jul 31 (1) (2) b. Prepaid rent expires, $200. (Assume that RCO debits an asset account when rent is...
The Tamarisk, Inc. opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. Tamarisk, Inc. Trial Balance May 31, 2020 Credit Debit Account Number $ 3,500 Cash 101 2,150 Supplies 126 Prepaid Insurance 2,400 130 14,000 140 Land Buildings 59,000 141 14,800 Equipment 149 $ 11,400 Accounts Payable 201 Unearned Rent Revenue 3,200 208 Mortgage Payable 40,000 275 Common Stock 35,500 311 10,350 429 Rent Revenue Advertising Expense 550 610 Salaries and...
Print 3. Consider the following independent situations at December 31: Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the joumal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On October 1, a business collected $3,000 rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. Al...
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...
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