I got part a. but I need b. and c.
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Need some help with this problem, mainly on the Part A, D and E. Adjusting Entries...
Need some help with this problem, mainly on the Part A, D and E.
Adjusting Entries are hella confusing.
No Transaction General Journal Credit Debit 4,240 X 1 a. Rent Expense Prepaid Rent 4,240 x 2 1,300 Depreciation Expense Accumulated Depreciation 1,300 3 Salaries and Wages Expense 2,400 Salaries and Wages Payable 2,400 1,075 X Insurance Expense Prepaid Insurance 1,075 X e. 1,270 x Supplies Expense Supplies 1,270 X Deferred Revenue 70 Service Revenue 70 Record the adjusting entry for...
Each of the following independent events requires a year-end adjusting entry. Paid $9,900 cash in advance...
Each of the following independent events requires a year-end adjusting entry. Paid $9,900 cash in advance on July 1 for a one-year lease on office space. Purchased $3,400 of supplies on account on April 15. At year-end, $270 of supplies remained on hand. Received a $8,800 cash advance on July 1 for a contract to provide services for one year beginning immediately. Paid $3,800 cash in advance on February 1 for a one-year insurance policy. Required Record each event and...
These are both part of the same question. I got partial credit (.5/2) for both so...
These are both part of the same question. I got partial credit
(.5/2) for both so I am unsure what is right and whats wrong. need
help figuring out correct account title and debit/credit amounts.
Thank you.
You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE...
q5 says im wrong Saved Help Save 5 For each of the following independent situations, prepare...
q5 says im wrong
Saved Help Save 5 For each of the following independent situations, prepare journal entries to record the initial transaction on September 30 and the adjustment required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 10 points a Hockey Helpers paid $5.400 cash on September 30 to rent an arena for the months of October and November b. Super Stage Shows received $17.400 on...
[The following information applies to the questions displayed below.] On November 1, 2019, Wenger Co. paid...
[The following information applies to the questions displayed below.] On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. 6-2. Prepare the adjusting entry that will be made at the end of every month to show the amount of rent "used" during the month. (If no entry is required for a transaction/event,...
On September 1. Nick's Sport Shop of Toledo prepaid six months of rent, 55,700. Read the...
On September 1. Nick's Sport Shop of Toledo prepaid six months of rent, 55,700. Read the requirements ne Way W WW WWW Date Accounts and Explanation Debit Credit Sep 1 Prepaid Rent 200 Cash 5.700 To record rent paid in advance Requirement 2. Record the adjusting entry required at September 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Sep 30 Rent Expense Prepaid Rent...
im sorry. this should be the first part of the question Required information The following information...
im sorry. this should be the first part of the question
Required information The following information appes to the questions displayed below On November 1, 2019, Wenger Co, padits landlord $3.00 in cash as an advance rent payment on its store location. The sik-month lease period ends on April 30, 2020, which time the contract may be renewed. Required: -1. Prepare the horizontal model to record the six month advanceret payment on November 1, 2019 (Use amounts with for increases...
i solved the first part cant solve the rest Below are transactions for Hurricane Company during...
i solved the first part cant
solve the rest
Below are transactions for Hurricane Company during 2021. 1 On October 1, 2021, Hurricane lends $7.200 to another company. The other company signs a note indicating principal and 8% interest will be paid to Hurricane on September 30, 2022 2. On November 1, 2021, Hurricane pays its landlord $1,800 representing rent for the months of November through January. The payment is debited to Prepaid Rent for the entire amount 3. On...
1. On September 1, 2016, the Matisse Co. paid $12,000 for insurance to cover the next...
1. On September 1, 2016, the Matisse Co. paid $12,000 for insurance to cover the next 12 months. Assume the company prepares all adjusting journal entries at the end of the year, the adjusting journal entry prepared on 12/31/16 would include a: a. Debit to Cash and a credit to Prepaid Insurance of $4,000. b. Debit to Insurance Expense and a credit to Prepaid Insurance of $4,000. C. Debit to Insurance Expense and a credit to Cash of $4,000. d....
Required information [The following information applies to the questions displayed below.) On November 1, 2019, Wenger...
Required information [The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $3,600 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Required: a-1. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2019. (Use amounts with + for increases and amounts with - for decreases.) Assets Balance...
Need some help with this problem, mainly on the Part A, D and E.
Adjusting Entries are hella confusing.
No Transaction General Journal Credit Debit 4,240 X 1 a. Rent Expense Prepaid Rent 4,240 x 2 1,300 Depreciation Expense Accumulated Depreciation 1,300 3 Salaries and Wages Expense 2,400 Salaries and Wages Payable 2,400 1,075 X Insurance Expense Prepaid Insurance 1,075 X e. 1,270 x Supplies Expense Supplies 1,270 X Deferred Revenue 70 Service Revenue 70 Record the adjusting entry for...
These are both part of the same question. I got partial credit
(.5/2) for both so I am unsure what is right and whats wrong. need
help figuring out correct account title and debit/credit amounts.
Thank you.
You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE...
q5 says im wrong
Saved Help Save 5 For each of the following independent situations, prepare journal entries to record the initial transaction on September 30 and the adjustment required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 10 points a Hockey Helpers paid $5.400 cash on September 30 to rent an arena for the months of October and November b. Super Stage Shows received $17.400 on...
[The following information applies to the questions displayed below.] On November 1, 2019, Wenger Co. paid its landlord $4,080 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. 6-2. Prepare the adjusting entry that will be made at the end of every month to show the amount of rent "used" during the month. (If no entry is required for a transaction/event,...
On September 1. Nick's Sport Shop of Toledo prepaid six months of rent, 55,700. Read the requirements ne Way W WW WWW Date Accounts and Explanation Debit Credit Sep 1 Prepaid Rent 200 Cash 5.700 To record rent paid in advance Requirement 2. Record the adjusting entry required at September 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Sep 30 Rent Expense Prepaid Rent...
im sorry. this should be the first part of the question
Required information The following information appes to the questions displayed below On November 1, 2019, Wenger Co, padits landlord $3.00 in cash as an advance rent payment on its store location. The sik-month lease period ends on April 30, 2020, which time the contract may be renewed. Required: -1. Prepare the horizontal model to record the six month advanceret payment on November 1, 2019 (Use amounts with for increases...
i solved the first part cant
solve the rest
Below are transactions for Hurricane Company during 2021. 1 On October 1, 2021, Hurricane lends $7.200 to another company. The other company signs a note indicating principal and 8% interest will be paid to Hurricane on September 30, 2022 2. On November 1, 2021, Hurricane pays its landlord $1,800 representing rent for the months of November through January. The payment is debited to Prepaid Rent for the entire amount 3. On...
1. On September 1, 2016, the Matisse Co. paid $12,000 for insurance to cover the next 12 months. Assume the company prepares all adjusting journal entries at the end of the year, the adjusting journal entry prepared on 12/31/16 would include a: a. Debit to Cash and a credit to Prepaid Insurance of $4,000. b. Debit to Insurance Expense and a credit to Prepaid Insurance of $4,000. C. Debit to Insurance Expense and a credit to Cash of $4,000. d....
Required information [The following information applies to the questions displayed below.) On November 1, 2019, Wenger Co. paid its landlord $3,600 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Required: a-1. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2019. (Use amounts with + for increases and amounts with - for decreases.) Assets Balance...
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