A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued service fees earned of $2,200. B. Depreciation expense of $8,000. C. Portion of office supplies (an asset) used $3,100.
1. A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries:
A. Accrued service fees earned of $2,200.
B. Depreciation expense of $8,000.
C. Portion of office supplies (an asset) used $3,100.
D. Accrued salaries of $5,200.
E. Revenues of $7,200, originally recorded as unearned, have been earned by the end of the year.
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A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued service fees earned of $2,200. B. Depreciation expense of $8,000. C. Portion of office supplies (an asset) used $3,100.
57. A company issued financial statements for the year ended December 31, but failed to include...
57. A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries A Accrued interest revenue eamed of $1 200 8 Depreciation expense of $4,000. C. Portion of prepaid insurance expired an asset) used $1,100. D. Accrued taxes of $3,200. E Revenues of $5,200originally recorded as uneamed, have been earned by the end of the year Determine the correct amounts for the December 31 financial statements by completing the following table: Assets...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned $ 24,000 $ 29,400 Commissions earned 42,500 42,500 Total revenues $ 66,500 71,900 Expenses Depreciation expense—Computers 0...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Income Statements For Year Ended December 31 Unadjusted Adjusted $24,000 42,500 $66,500 $29,400 42,500 71,900 Revenues Fees earned Commissions earned Total revenues Expenses Depreciation expense-Computers Depreciation expense-office furniture Salaries...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. The middle column shows a blank space for each income statement effect of the eight adjusting entries a through g (the balance sheet part of the entries...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned $18,000 $25,000 Commissions earned 36,500 36,500 Total revenues $54,500 61,500 Expenses Depreciation expense-Computers 1,600 Depreciation...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned $ 24,000 $ 30,000 Commissions earned 42,500 42,500 Total revenues $ 66,500 72,500 Expenses Depreciation...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year
ended December 31. The left number column is prepared before
adjusting entries are recorded, and the right column is prepared
after adjusting entries. The company records cash receipts and
payments related to unearned and prepaid items in balance sheet
accounts.
Analyze the statements and prepare the seven adjusting entries
that likely were recorded. Hint: Entry for
arefers to fees that have been earned but not yet billed.
None of...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Adjusted $ 25,000 36,500 61,500 ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjustments Revenues Fees earned $18, eee Commissions earned 36,580 Total revenues 54,...
Following are two income statements for Alexis Co. for the year ended December 31. The left...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjustments Adjusted Revenues Fees earned $ 24,000 a. $ 29,400 Commissions earned 42,500 42,500 Total revenues $...
Record depreciation on computers. Record depreciation on office furniture. Record the adjusting entry related to salaries....
Record depreciation on computers.
Record depreciation on office furniture.
Record the adjusting entry related to salaries.
Record the adjusting entry related to insurance.
Record the adjusting entry related to office supplies.
Record the adjusting entry related to utilities.
1,170 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments...
57. A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries A Accrued interest revenue eamed of $1 200 8 Depreciation expense of $4,000. C. Portion of prepaid insurance expired an asset) used $1,100. D. Accrued taxes of $3,200. E Revenues of $5,200originally recorded as uneamed, have been earned by the end of the year Determine the correct amounts for the December 31 financial statements by completing the following table: Assets...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Income Statements For Year Ended December 31 Unadjusted Adjusted $24,000 42,500 $66,500 $29,400 42,500 71,900 Revenues Fees earned Commissions earned Total revenues Expenses Depreciation expense-Computers Depreciation expense-office furniture Salaries...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned $18,000 $25,000 Commissions earned 36,500 36,500 Total revenues $54,500 61,500 Expenses Depreciation expense-Computers 1,600 Depreciation...
Following are two income statements for Alexis Co. for the year
ended December 31. The left number column is prepared before
adjusting entries are recorded, and the right column is prepared
after adjusting entries. The company records cash receipts and
payments related to unearned and prepaid items in balance sheet
accounts.
Analyze the statements and prepare the seven adjusting entries
that likely were recorded. Hint: Entry for
arefers to fees that have been earned but not yet billed.
None of...
Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Adjusted $ 25,000 36,500 61,500 ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjustments Revenues Fees earned $18, eee Commissions earned 36,580 Total revenues 54,...
Record depreciation on computers.
Record depreciation on office furniture.
Record the adjusting entry related to salaries.
Record the adjusting entry related to insurance.
Record the adjusting entry related to office supplies.
Record the adjusting entry related to utilities.
1,170 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments...
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