In the journal provided,prepare year-end adjustments for the following situations.Omit explanations.
a. Accrued interest on notes receivable is $105.
b. Of the $12,000 received in advance of earning a service, one-third was still unearned by year end.
c. Three years' rent, totaling $36,000, was paid in advance at the beginning of the year.
d. Services totaling $5,300 had been performed, but not yet billed.
e. Depreciation on trucks totaled $3,400 for the year.
f. Supplies available for use totaled $690. However, by year end, only $100 in supplies remained.
g. Payroll for the five-day work week, to be paid on Friday, is $30,000. Year end falls on a Monday.
h. Estimated federal income taxes were $4,160.
Correct Answer:
Verified
Q148: Why will the Income Summary account never
Q203: What broad purposes are accomplished by closing
Q204: During the performance of the steps in
Q209: Distinguish between adjusting and closing entries.
Q234: Given the adjusted trial balance below,prepare
Q238: Answer the following questions.(Show your work.)
a. A
Q239: Use the following unadjusted trial balance
Q240: In the journal provided,prepare year-end adjustments for
Q241: Below are the adjusted accounts of
Q242: The income statement for Catlett Corporation
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents