Safari File EditView History Bookmarks Window Help* )) 75% Sat 4:0A education.wiley.comw Assignment 2we NWP Assessment Player UI ApplicationO MOHAMED ROMEO | JACAYLKAN YAABKA | OFFICIAL* Assignment 2Question 4 of 6>-/4An analysis of the accounts shows the following.1.The equipment depreciates $296 per month.2.Half of the unearned rent revenue was earned during the quarter.3.Interest of $416 should be accrued on the notes payable.4.Supplies on hand total $884.5.Insurance expires at the rate of $416 per month.Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles areautomatically indented when the amount is entered. Do not indent manually.)No.DateAccount Titles and ExplanationDebitCredit1.Mar. 312.Mar. 31etv5MacBook AirDIIDD80F7F8F9F10F1F2F3@#$%&134678QWRTYUADFH.JK EditView HistoryBookmarks Window HelpA 1) 75% OA education.wiley.comwAssignment 2w NWP Assessment Player UI ApplicationO MOHAMED ROMEO | JACAYLKAN YAABKAent 2-/ 4Question 4 of 6View PoliciesCurrent Attempt in ProgressThe ledger of Bramble Corp. on March 31 of the current year includes the following selected accounts before adjusting entries havebeen prepared.DebitCreditSupplies$3,120Prepaid Insurance3,744Equipment26,000Accumulated Depreciation-Equipment$8.736Notes Payable20.800Unearned Rent Revenue12,896Rent Revenue62,400Interest ExpenseSalaries and Wages Expense14,560An analysis of the accounts shows the following.tvМacBook AirDIDD80F10F7F8F6F3F4F2*@#3$&23467WEYU* C0R

The General Journal for the 5 transactions can be found as an Image Attachment in Step 2 of the…

An analysis of the accounts shows the following. 1. The equipment depreciates $296 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $416 should be accrued on the notes payable. 4. Supplies on hand total $884. 5. Insurance expires at the rate of $416 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit

An analysis of the accounts shows the following. 1. The equipment depreciates $296 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $416 should be accrued on the notes payable. 4. Supplies on hand total $884. 5. Insurance expires at the rate of $416 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...

See similar textbooks

Similar questions

Marked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31
Part BRequired6. Prepare journal entries to record each of the following November transactions.7. Post the November entries.8. Prepare a trial balance at November 30, 2020.9. Prepare an income statement and a statement of changes in equity for the two months endedNovember 30. 2020. as well as a balance sheet at Novembe 30. 2020.Nov. 1 Reimbursed Aster Turane's business automobile expense for 2,630kilometres at $1.60 per kilometre.2 Received $7,920 cash from Langara Lodge for computer services rendered.5 Purchased $420 of computer supplies for cash from Triple-One Supplies.8 Billed Dinwoody Entertainment $4,230 for computer services rendered.13 Notified by Kinsetta Groceries that Aster's bid of $5,950 for anupcoming project was accepted.18 Received $4,200 from Whistler Resort against the bill dated October 28.22 Donated $500 to the Hope Mission in the company's name.24 Completed work for Kinsetta Groceries and sent a bill for the agreed amount.25 Sent another bill to Whistler Resort for…
DATA PROVIDEDThe pre-adjustment trial balance of Wing-It (Pty) Ltd as at 31 August 2022 is presented:AccountDebitCreditProfessional fees765 000Goods sold435 000Cost of sales215 000Interest received19 500Interest on loan6 300Bank charges3 200Cleaning1 500Staff welfare650Salaries and wages35 850Municipal services6 850Printing and stationery16 715Telephone18 600Fuel and oil56 000Repairs and maintenance: Building5 200Repairs and maintenance: Vehicles6 850Capital: Blue520 000Capital: Green630 000Drawings: Blue35 000Drawings: Green27 000Current account: Blue2 500Current account: Green6 400Retained income265 000Land500 000Buildings1 500 000Accumulated depreciation on buildings21 000Vehicles380 000Accumulated depreciation on vehicles65 000Equipment and electronics79 500Accumulated depreciation on equipment and electronics1 5008% Long-term loan325 000Bank: FNB168 000Bank: ABSA32 000Debtors control account85 000Allowance for credit losses6 400Creditors control account78 600Petty cash2…
Question The following pre‐adjustment trial balance appeared in the books of Central Perk Furniture Storeat the end of their financial year. IGNORE VAT.Pre‐adjustment trial balance of Central Perk Furniture Store for the year ended 31 March 2020.Fol. Debit (R) Credit (R)Statement of financial position sectionCapital B1 500 000.00Drawings B2 25 000.00Land and buildings B3 865 000.00Vehicles B4 220 987.00Equipment B5 156 760.00Accumulated depreciation: Equipment(1 April 2019)B6 54 320.00Accumulated Depreciation: Vehicles(1 April 2019)B7 22 580.00Bank B8 22 430.00Debtors Control B9 35 600.00Allowance for Credit Losses‐ 1 April 2019 B10 1 780.25Petty Cash B11 1 378.98Trading inventory (1 April 2019) B12 27 865.43Mortgage Loan B13 287 650.00Creditors Control B14 31 420.00SARS(UIF/SDL/PAYE) B15 23 290.6520 2020Page 6 of 7Fol. Debit (R) Credit (R)Nominal accounts sectionSales N1 1 167 371.07Sales Returns N2 25 340.87Purchases N3 520 389.76Purchases returns N4 76 540.32Service Income N5 10…
Hh1. Account Blossom has year-end account balance of sales Revenue $843779, Interest Revenue $12160, Cost of Good Sold $531052, Administrative Expenses $177930, Income Tax Expenses $36772, and Dividends $17793. Prepare the year-end closing entries.
7. Using the appropriate window for Computerized Accounting with QuickBooks 2021, record the following transactions for April 2022. The company file was 'CH2 Lynn's Music Studio.QBW.' Apr.2 Received bill for rent of the month of April from Viewhill Realty, $600, paid immediately, Check No.1. Do not print check. Apr.2 Received a bill for a one-year insurance policy on account from Mutual Insurance Company, Invoice No. 1257, $2,500, Net 30 Days. Apr.5 Purchased furniture on account from Mills Family Furniture, Invoice No. 1257, $2,500, Net 30 Days. Apr.6 Purchased a computer system on account from Computer Town, Invoice No. X234, $3,000, Net 15 Days. Apr.9 Purchased music suppliers on account from Strings, Sheets, & Such, Invoice No. 1290, $500, Net 15 Days.
Created by HASSAN TUGUME Published 15 APR, 8:18 Updated 15 APR, 8:18 21 APR, 23:59 2 attempts left This test will become unavailable after 21 Apr 2024 23:59 0% If you want to start assessment remove unpublished or deadline date RESUME THE QUIZ CAT 2 APRIL 2024 FOA 121 Principles of Accounting - CAT2 Instructions to Candidates: Attempt all questions (all questions are compulsory) Q.1 The following transactions are for Taka Ltd for October 2023.  1st October, Taka the owner of the business started the business with $20,000 cash and $10,000 in the bank account.  2nd, purchased land for the business at $3,000 cash  4th purchased office furniture from Furniture World on credit valued at $2,000  4th, Taka was hired to provide consultancy to a client and was paid $ 300 cash  5th, obtained a bank loan of $18,000, which was deposited in the business bank account.  15th, made part payment of $1,500 by cheque to Accounts payable created on 4th October  06th, deposited $500 into the…
Comprehensive ProblemPrepare adjusting entries, post to ledger accounts, and prepare adjusted trial balance.Ben and Jerry started his own consulting firm, on June 1, 2021. The trial balance at June 30 is asfollows. Ben & Jerry ConsultantsTrial BalanceJune 30, 2021 Debit Credit Cash $ 6,850Accounts Receivable 7,000Supplies 2,000Prepaid Insurance 2,880Equipment 15,000Accounts Payable $ 4,230Unearned Service Revenue 5,200Common Stock 22,000Service Revenue 8,300Salaries and Wages Expense 4,000Rent Expense 2,000 $39,730 $39,730 1.Supplies on hand at June 30 total $720.2.A utility bill for $180 has not been recorded and will not be paid until next month.3.The insurance policy is for a year.4.Services were performed for $4,100 of unearned service revenue by the end of themonth.5.Salaries of $1,250 are accrued at June 30.6.The equipment has a 5-year life with no salvage value and is being depreciated at $250per month for 60 months.7.Invoices representing $3,900 of services performed during…
Merah Sdn. BhdUnadjusted Trial Balance as at 30 June 2020 RM RMCash 15,400 Account Receivables 25,000 Inventory 1 July 2019 68,000 Prepaid Insurance 10,800 Office Supplies On Hand 12,500 Furniture And Fittings 120,000 Accumulated Depreciation : Furniture And Fittings 12,000Account Payable 51,100Capital 68,000Sales 785,400Sales Return 2,600 Sales Discount…
Adjustment Amount $5766.67, Net Income $49,408.33 Record the following transactions to the journal and post it to the T-accounts. Make a footing and get the ending balance of each account. Prepare your trial balance in the worksheet template. December 2021 2 Paid wages from last month $1,500. 4 additional investment of $5,000 from S. Joe’s savings account. 10 Collected $1,500 from fees earned previously. 15 Billed client for services rendered, $1,500 20 Paid wages expense $ 1,800. 23 Received telephone bill to be paid later, $150 25 Provided cleaning services in cash $1,000. 26 Purchase cleaning supplies on account $ 1,200. 27 Payment of accounts payable $1,000. 28 Paid gasoline $500. Record the following in the adjustment journal template then post it to the T-accounts. additional information for adjustments for December 31, 2021. Unexpired prepaid rent is $750. The annual prepaid insurance was paid Nov. 1 $2,500. Record the expired portion. Cleaning supplies on…
Prepare Adjusting Entries for the following transactions:Attach the EXCEL screenshots here.WITH FORMULAS IN EXCEL FOR UPVOTE12/31Salary of P15,000 has been incurred to be paid January 15(cut off is Dec 26-Jan 10)08/01The Company lent P70,000 to a customer who issued a promissory notewith interest rate of 2% to be paid January 30 of the following year.04/01The Company rendered services worth P1,000,000 on account.The Company estimated 2% of AR to be uncollectible.
Prepare Adjusting Entries for the following transactions:Attach the Spreadsheet screenshots here.WITH FORMULAS FOR UPVOTE12/31Salary of P15,000 has been incurred to be paid January 15(cut off is Dec 26-Jan 10)08/01The Company lent P70,000 to a customer who issued a promissory notewith interest rate of 2% to be paid January 30 of the following year.04/01The Company rendered services worth P1,000,000 on account.The Company estimated 2% of AR to be uncollectible.