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Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $2,700 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $1,440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $49,200. The company estimates annual depreciation of $4,920. Prepare the adjusting journal entries required on October 31. (If no...
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Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $5,250 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $3,480 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $59,400. The company estimates annual depreciation of $5,940. Prepare the adjusting journal entries required on October 31. (If no...
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Required information For each of the following transactions for the Sky Blue Corporation: a Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount c Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820. Prepare the adjusting journal entries required on October 31. (If no...
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Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $3,750 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $2,280 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $53,400. The company estimates annual depreciation of $5,340. Prepare the adjusting journal entries required on October 31. (If no...
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At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $7,920 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare...
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says my ans are incomplete. maybe im inserting numbers in
weong place?
2 At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $32,000 and zero balances in Accumulated Depreciation and Depreciation Expense. Depreciation for the period is estimated to be $6,400. Required: 1. Prepare the adjusting journal entry on December 31 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance 10 points eBook Pint...
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Do i put the AJE beside any of these?
At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $6,000 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 10 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. points Complete this question by entering...
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For each of the following transactions for the Sky Blue
Corporation, prepare the adjusting journal entries required on
October 31. (If no entry is required for a transaction/event,
select "No Journal Entry Required" in the first account field.)
Collected $2,550 rent for the period October 1 to December 31,
which was credited to Deferred Revenue on October 1. Paid $1,320
for a two-year insurance premium on October 1 and debited Prepaid
Insurance for that amount. Used a machine purchased on...
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! Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $2,700 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $1,440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $49,200. The company estimates annual depreciation of $4,920. Give the accounting equation effects of the adjustments required at...
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Required information For each of the following transactions for
the Sky Blue Corporation: Collected $5,100 rent for the period
October 1 to December 31, which was credited to Deferred Revenue on
October 1. Paid $3,360 for a two-year insurance premium on October
1 and debited Prepaid Insurance for that amount. Used a machine
purchased on October 1 for $58,800. The company estimates annual
depreciation of $5,880. rev: 09_26_2018_QC_CS-140420 Give the
accounting equation effects of the adjustments required at the end...
Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $2,700 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $1,440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $49,200. The company estimates annual depreciation of $4,920. Prepare the adjusting journal entries required on October 31. (If no...
Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $5,250 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $3,480 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $59,400. The company estimates annual depreciation of $5,940. Prepare the adjusting journal entries required on October 31. (If no...
Required information For each of the following transactions for the Sky Blue Corporation: a Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount c Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820. Prepare the adjusting journal entries required on October 31. (If no...
Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $3,750 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $2,280 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $53,400. The company estimates annual depreciation of $5,340. Prepare the adjusting journal entries required on October 31. (If no...
At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $7,920 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare...
says my ans are incomplete. maybe im inserting numbers in
weong place?
2 At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $32,000 and zero balances in Accumulated Depreciation and Depreciation Expense. Depreciation for the period is estimated to be $6,400. Required: 1. Prepare the adjusting journal entry on December 31 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance 10 points eBook Pint...
Do i put the AJE beside any of these?
At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $6,000 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: 10 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. points Complete this question by entering...
! Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $2,700 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $1,440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $49,200. The company estimates annual depreciation of $4,920. Give the accounting equation effects of the adjustments required at...