TThe question is to prepare the adjusting entries for the month of April with computation
TThe question is to prepare the adjusting entries for the month of April with computation
Homework Answers
The adjusting entries for the month of April.
Insurance expense a/c Dr Prepaid Insurance a/c Cr
Depreciation expense a/c Dr Accumulated Depreciation a/c Cr
Interest expense a/c Dr Interest payable a/c Cr
Revenue Dr Service Revenue Cr
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TThe question is to prepare the adjusting entries for the month
of April with computation
a) Oriole prepares adjusting entries monthly. Prepare adjusting entries for the month and April 30, 2021...
a) Oriole prepares adjusting entries monthly. Prepare
adjusting entries for the month and April 30, 2021
b) Prepare balance sheet
c) prepare income statement
The unadjusted trial balance for Oriole at its year end, April 30, 2021, is as follows: ORIOLE Trial Balance April 30, 2021 Debit Credit Cash $12,300 Accounts receivable 9,600 Prepaid rent 4,800 Equipment 23,040 Accumulated depreciation-equipment $5,760 Accounts payable 5,700 Notes payable 10,800 Unearned revenue 1,600 T. Muzyka, capital 28,714 T. Muzyka, drawings 4,600 Service revenue...
adjusting entries Prepare only the adjusting entries for the month of June based on the following...
adjusting entries
Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful life of 4 years with no estimated value at the end of 4 years. 2. A loan of $36,000 was taken out on June 1st. The loan is to be repaid in 24 months including interest at 5% annually. 3. $1,350 of office supplies was purchased during June; at the end of June $840 of...
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.
The ledger of Splish Brothers Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared CreditDebitSupplies$8,100Prepaid insurance9,720Equipment67,500Accumulated Depreciation-Equipment$22,680Notes Payable54,000Unearned Rent Revenue33,480Rent Revenue162,000Interest Expense0Salaries and Wages Expense37,800An analysis of the accounts shows the following 1. The equipment depreciates $756 per month 2. Half of the uneared rent revenue was earned during the quarter 3. Interest of $1,080 is accrued on the notes payable 4. Supplies on hand total $2,295. 5. Insurance expires at the rate of $1,080 per...
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Credit Debit...
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
Alt Company is in the process of analyzing their accounts in order to prepare adjusting entries...
Alt Company is in the process of analyzing their accounts in order to prepare adjusting entries for the fiscal year 2018, which ends on December 31, 2018. The following information has been collected by the accounting staff in order to prepare the adjusting entries for 2018. The balance in the Insurance Expense account contains the total premium costs of a policy with an original cost of $10,800 that has a 3-yr. term beginning on October 1, 2018. The policy was...
Prepare adjusting entries If the original entries were recorded to a temporary and permanent account. 1....
Prepare adjusting entries If the original entries were recorded
to a temporary and permanent account.
1. The company paid $18,000 for a one year lease that commenced on 9/1/20. 2. The company received $25,000 in advance for services to be rendered in the future. As of 12/31/20 the company had earned $15,000. 3. The company paid $9,000 for a 1 year fire policy with an effective date of April 1, 2020. 4. During the year the company purchased $1,400 in...
prepare adjusting entries for the month of june according to jpg 30 is as follows. Azhar...
prepare adjusting entries for the month of june according to
jpg
30 is as follows. Azhar started his own consulting firm, Azhar Consulting Company, on June 1, 2013. The trial balance at June Azhar Consulting Company Trial Balance June 30, 2013 Account Titles Debit (Tk.) Credit (TK. Cash 10,000 Accounts Receivable 6,000 Prepaid Insurance 3,000 Supplies 2,000 Office Equipment 15,000 Accounts Payable 4,500 Uneamed Service Revenue 4.000 Capital 24,600 Service Revenue 7.900 Salaries Expense 4,000 Rent Expense 1.000 41,000 41.000...
How do I prepare adjusting entries for the following transcations? Transactions to Record for the month...
How do I prepare adjusting entries for the following transcations? Transactions to Record for the month of March 1-Mar Issued 1,000 shares of F&F common stock for $30,000. The common stock has a $10 par value. 1-Mar Paid $4,500 for rent for the Months of March and April 1-Mar Hired two employees. Each employee will be paid $20 per hour. Employees will start on March 8th. 1-Mar Borrowed $10,000 cash on a 3-year, 6% Note Payable, Interest is paid quarterly...
Adjusting Entries Prepare the necessary adjusting entries at year end of December 31, 2014 for the...
Adjusting Entries Prepare the necessary adjusting entries at year end of December 31, 2014 for the JS Corporation for each of the following. No adjusting entries were made during the year. If no adjustment is needed, state that fact. Round to the nearest dollar. 1. On December 20, 2014, JS received a $4,000 payment from a customer for services to be rendered early in 2015. Service revenue was credited. 2. On December 1, 2014, JS paid a local radio station...
Use the information to prepare adjusting entries as of December 31, 2018. b. An analysis of...
Use the information to prepare adjusting entries as of December
31, 2018.
b. An analysis of the company's insurance policies provided the following facts Months of Coverage 24 36 12 Policy Date of Purchase April 1, 2016 April 1, 2017 August 1, 2818 Cost $11,832 10,584 9,432 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid...
a) Oriole prepares adjusting entries monthly. Prepare
adjusting entries for the month and April 30, 2021
b) Prepare balance sheet
c) prepare income statement
The unadjusted trial balance for Oriole at its year end, April 30, 2021, is as follows: ORIOLE Trial Balance April 30, 2021 Debit Credit Cash $12,300 Accounts receivable 9,600 Prepaid rent 4,800 Equipment 23,040 Accumulated depreciation-equipment $5,760 Accounts payable 5,700 Notes payable 10,800 Unearned revenue 1,600 T. Muzyka, capital 28,714 T. Muzyka, drawings 4,600 Service revenue...
adjusting entries
Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful life of 4 years with no estimated value at the end of 4 years. 2. A loan of $36,000 was taken out on June 1st. The loan is to be repaid in 24 months including interest at 5% annually. 3. $1,350 of office supplies was purchased during June; at the end of June $840 of...
Prepare the adjusting entries at March 31, assuming that
adjusting entries are made quarterly
Credit Debit $4,800 5,760 40,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $13,440 32,000 19,840 96,000 0 22,400 An analysis of the accounts shows the following 1. 2. 3 The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $640 is accrued on the notes...
Prepare adjusting entries If the original entries were recorded
to a temporary and permanent account.
1. The company paid $18,000 for a one year lease that commenced on 9/1/20. 2. The company received $25,000 in advance for services to be rendered in the future. As of 12/31/20 the company had earned $15,000. 3. The company paid $9,000 for a 1 year fire policy with an effective date of April 1, 2020. 4. During the year the company purchased $1,400 in...
prepare adjusting entries for the month of june according to
jpg
30 is as follows. Azhar started his own consulting firm, Azhar Consulting Company, on June 1, 2013. The trial balance at June Azhar Consulting Company Trial Balance June 30, 2013 Account Titles Debit (Tk.) Credit (TK. Cash 10,000 Accounts Receivable 6,000 Prepaid Insurance 3,000 Supplies 2,000 Office Equipment 15,000 Accounts Payable 4,500 Uneamed Service Revenue 4.000 Capital 24,600 Service Revenue 7.900 Salaries Expense 4,000 Rent Expense 1.000 41,000 41.000...
Use the information to prepare adjusting entries as of December
31, 2018.
b. An analysis of the company's insurance policies provided the following facts Months of Coverage 24 36 12 Policy Date of Purchase April 1, 2016 April 1, 2017 August 1, 2818 Cost $11,832 10,584 9,432 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid...
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