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Gee Company accumulates the following adjustment data at December 31. Indicate the type of adjustment (prepaid expense, accrued revenue, and so on), and the status of accounts before adjust (overstated or understated). (Enter answers in alphabetical order.) 1. Supplies of $150 are on hand. Services performed but not recorded total $900. 2. 3. Interest of $200 has accumulated on a note payable. 4. Rent collected in advance totaling $850 has been earned. Item Type of Adjustment Account Balances before Adjustment 2. 4. > 3.

Gee Company accumulates the following adjustment data at December 31. Indicate the type of adjustment (prepaid expense, accrued revenue, and so on), and the status of accounts before adjust (overstated or understated). (Enter answers in alphabetical order.) 1. Supplies of $150 are on hand. Services performed but not recorded total $900. 2. 3. Interest of $200 has accumulated on a note payable. 4. Rent collected in advance totaling $850 has been earned. Item Type of Adjustment Account Balances before Adjustment 2. 4. > 3.

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Gee Company accumulates the following adjustment data at December 31. Indicate the type of adjustment (prepaid expense, accrued revenue, and so on), and the status of accounts before adjustment (overstated or understated). (Enter answers in alphabetical order.) 1. Supplies of $150 are on hand. Services performed but not recorded total $900. 2. 3. Interest of $200 has accumulated on a note payable. 4. Rent collected in advance totaling $850 has been earned. Item Type of Adjustment Account Balances before Adjustment 2. 4. > 3.
Transcribed Image Text:Gee Company accumulates the following adjustment data at December 31. Indicate the type of adjustment (prepaid expense, accrued revenue, and so on), and the status of accounts before adjustment (overstated or understated). (Enter answers in alphabetical order.) 1. Supplies of $150 are on hand. Services performed but not recorded total $900. 2. 3. Interest of $200 has accumulated on a note payable. 4. Rent collected in advance totaling $850 has been earned. Item Type of Adjustment Account Balances before Adjustment 2. 4. > 3.
Sandhill Advertising Company's trial balance at December 31 shows Supplies $6,300 and Supplies Expense $0. On December 31, there are $2,900 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Supplies Supplies Expense
Transcribed Image Text:Sandhill Advertising Company's trial balance at December 31 shows Supplies $6,300 and Supplies Expense $0. On December 31, there are $2,900 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Supplies Supplies Expense
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