1.  Balances at the month of July 31,2020 Unearned fees-1,250 Fees earned- 59,125 Give the Adjusting entry. Unearned fees on July 31,2020, 750.

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3PA: The following partial work sheet covers the affairs of Masanto and Company for the year ended June...
icon
Related questions
Question

1.  Balances at the month of July 31,2020
Unearned fees-1,250
Fees earned- 59,125

Give the Adjusting entry.
Unearned fees on July 31,2020, 750.

 

2.  The company pays weekly salaries of 12,500 on friday for a five day week during in that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Thursday.

3. Which of the following requires an adjusting entries?

A. Land

B.  Accounts Receivable

C. Wages expense

 

 

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College