Homework Answers
Required journal entries are as prepared below:
| S.No | Particulars | L.F | Debit | Credit |
| (a) | Unearned Fees | 78,500 | ||
| Fees Earned | 78,500 | |||
| (For fees earned) | ||||
| 23,600 | ||||
| (b) | Account Receivable | 23,600 | ||
| Fees Earned | ||||
| (For fees earned but not recorded) |
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OBJ. 2 EX 3-11 Adjusting entries for unearned and accrued fees The balance in the unearned fees account, before adj...
please answer boxes Adjusting Entries for Unearned and Accrued Fees The balance in the unearned fees...
please answer boxes
Adjusting Entries for Unearned and Accrued Fees The balance in the unearned fees account, before adjustment at the end of the year, is $110,730. Of these fees, $68,655 have been earned. In addition, $13,290 of fees have been earned but have not been billed. a. Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank. Unearned Fees Fees Earned ✓ Feedback Check My Work Consider...
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...
int of entry: EX 3-8 Adjusting entries for unearned fees The balance in the unearned fees account, before adjustmen...
int of entry: EX 3-8 Adjusting entries for unearned fees The balance in the unearned fees account, before adjustment at the end of the year, is $45,000. Jour- nalize the adjusting entry required if the amount of unearned fees at the end of the year is $9,000. EX 3-9 Fffon
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees...
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain. b. EX 3-6 Determining wages paid Obj. 2 The wages payable and wages expense...
The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000
Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:a. The amount of insurance expired during the year is $20,250. If an amount box does not require an entry, leave it blank. b. The amount of unexpired insurance applicable to future periods is $6,750. If an amount box does not require an...
OBJ. 3 EX 3-11 Adjusting entry for supplies The balance in the supplies account, before adjustment...
OBJ. 3 EX 3-11 Adjusting entry for supplies The balance in the supplies account, before adjustment at the end of the year, is $4,850. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $880.
Normal No Spa Heading Heading 2 4 Reg Font Title Paragraph Styles Editing EX 3-5 Adjusting...
Normal No Spa Heading Heading 2 4 Reg Font Title Paragraph Styles Editing EX 3-5 Adjusting Entries for Accrued Salaries • Obj. 2 Paradise Realty Co, pays weekly salaries of $25,500 on Friday for a five- day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday EX 3-9 Adjusting Entries for Unearned Fees • Obj. 3 The balance in the...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. PE 3-7B Adjustment for depreciation OBJ. 2 The estimated amount of depreciation on equipment for the current year is $7,700. Journalize the adjusting entry to record the depreciation.
EX 3-10 Adjusting entry for accrued fees At the end of the current year, $12,300 of...
EX 3-10 Adjusting entry for accrued fees At the end of the current year, $12,300 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.
Adjusting Entry for Accrued Fees 1. At the end of the current year, $7,100 of fees...
Adjusting Entry for Accrued Fees 1. At the end of the current year, $7,100 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? 2. Garcia Realty Co. pays weekly salaries of $28,000 on Friday for a five-day workweek ending on that day. a. Journalize the necessary adjusting...
please answer boxes
Adjusting Entries for Unearned and Accrued Fees The balance in the unearned fees account, before adjustment at the end of the year, is $110,730. Of these fees, $68,655 have been earned. In addition, $13,290 of fees have been earned but have not been billed. a. Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank. Unearned Fees Fees Earned ✓ Feedback Check My Work Consider...
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...
int of entry: EX 3-8 Adjusting entries for unearned fees The balance in the unearned fees account, before adjustment at the end of the year, is $45,000. Jour- nalize the adjusting entry required if the amount of unearned fees at the end of the year is $9,000. EX 3-9 Fffon
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain. b. EX 3-6 Determining wages paid Obj. 2 The wages payable and wages expense...
OBJ. 3 EX 3-11 Adjusting entry for supplies The balance in the supplies account, before adjustment at the end of the year, is $4,850. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $880.
Normal No Spa Heading Heading 2 4 Reg Font Title Paragraph Styles Editing EX 3-5 Adjusting Entries for Accrued Salaries • Obj. 2 Paradise Realty Co, pays weekly salaries of $25,500 on Friday for a five- day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday EX 3-9 Adjusting Entries for Unearned Fees • Obj. 3 The balance in the...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. PE 3-7B Adjustment for depreciation OBJ. 2 The estimated amount of depreciation on equipment for the current year is $7,700. Journalize the adjusting entry to record the depreciation.
EX 3-10 Adjusting entry for accrued fees At the end of the current year, $12,300 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.
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