ZuoTi.Pro
Question

How do you post the adjustments for number 5 and number 3? Wouldn't it affect accounts...

How do you post the adjustments for number 5 and number 3? Wouldn't it affect accounts receivable in both questions? Number 5 says "Duplicate invoices were discovered on April 3rd showing the company had double billed a company for $8450 for an advertisement in a March issue of the magazine." and number 3 says "Unbilled advertising revenue totaled $175,000 at 3/31/20.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
Debit Credit
5 Advertising Revenue        8,450.00
Accounts Receivable        8,450.00
3 Accounts Receivable    175,000.00
Advertising Revenue    175,000.00
0 0
Add a comment
Know the answer?
Add Answer to:
How do you post the adjustments for number 5 and number 3? Wouldn't it affect accounts...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • How do you post the following transactions to T accounts ? Transactions to Record for the...

    How do you post the following transactions to T accounts ? 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...

  • can someone create a journal entry for this using these accounts below: also do number 3...

    can someone create a journal entry for this using these accounts below: also do number 3 and 4. this is the second part Complete the accounting cycle - Journal entries in panel For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2020 Jeff, decided to move to rented quarters and to operate the business which was to be known as Rosebud Consulting, on a full-time basis. Rosebud Consulting entered...

  • 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...

  • How do I prepare the following statements and prepare closing entries in general journal form for...

    How do I prepare the following statements and prepare closing entries in general journal form for the following transactions? Prepare the following financial statements—must be done on Excel. A single-step income statement A multi-step income statement A statement of Retained Earnings A classified Balance Sheet A cash flow statement using the indirect method. Prepare Closing entries in General Journal Form Transactions to Record for the month of March 1-Mar Issued 1,000 shares of F&F common stock for $30,000. The common...

  • I dont understand how to do this question please help! Thank you Instructions Chart of Accounts...

    I dont understand how to do this question please help! Thank you Instructions Chart of Accounts Journal Adjusted Trial Balance Instructions Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7.420.00 2 Accounts Receivable 38.115.00 - Prepaid Insurance 7,050.00 4 Supplies 1.630.00 5 Land 114.550.00 150.250.00 88.800.00 6 Building 7 Accumulated Depreciation-Building * Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 133,200.00 96,605.00 12,560.00 11 Unearned Rent 7,035.00 12 Jan Pitman, Capital 217.215.00 13 Jan Pitman....

  • Hello if you could just make sure to do a-g id really appreciate it and I...

    Hello if you could just make sure to do a-g id really appreciate it and I will thumbs up for your effort! thank you Required information (The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the...

  • Hello, I was wondering if you could help me with Cumulative Comprehension Problem from Chapter 5:...

    Hello, I was wondering if you could help me with Cumulative Comprehension Problem from Chapter 5: Echo Systems and this is in the book Fundamental Accounting Principles. There is no Part B that was there by mistake, sorry about that. This goes with Cumulative Comprehension Problem from Chapter: Echo Systems CHAPTER 4 Completing the Accounting Cycle and Classifying Accoun ts lative Comprehension Problem: Echo Systems E: 2. Total credits in post-closing trial balance $155.720 nco segments of this comprehensive problem...

  • How do you a)prepare journal entries to record the June transactions b)post the transactions to existing...

    How do you a)prepare journal entries to record the June transactions b)post the transactions to existing general ledger accounts c)prepare unadjusted trial balance d)prepare adjusting journal entries e) post adjusting entires to the ledger Junge Transactions for June 2018 1-Jum-18 After opening the mal, secretary 2-sun-18 The Accounts Payable staff 5-Jun-18 The Payrolil department distributed pay checks to all scaff that had wages due to them as of May 31 6 Jun-18 Junge delivered Morton Software to 2iom for web...

  • E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The...

    E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The following transactions relate to a magazine company called My Style Mag (MSM). Required: You will use your understanding of the relationships among (1) business activities, (2) accounting equation effects. (3) Journal entries. and (4) T-accounts to complete a four-part table out of which one part is already calculated. Items (a-i are independent of one another. Complete this question by entering your answers in the...

  • Part 3 -Becoming a Merchandiser (94 points) -Santana Rey created Business Solutions on October 1, 2018....

    Part 3 -Becoming a Merchandiser (94 points) -Santana Rey created Business Solutions on October 1, 2018. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2018. Santana Rey decided to add a fourth digit with a decimal point to the...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT