At December 31, the unadjusted trial balance of H& R Tracks reports Software of $ 25,000 and zero balances in Accumulated Amortization and Amortization Expense. Amortization for the period is estimated to be $ 5,000. Prepare the adjusting journal entry on December 31. In separate T- accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.
Answer to relevant QuestionsThe adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $ 500; Supplies $ 9,000; Prepaid Insurance $ 7,200; Equipment $ 28,000; Accumulated Depreciation— Equipment $ 4,000; ...Using the information in M4- 5, prepare the adjusting journal entries required on October 31. a. Collected $ 2,400 rent for the period October 1 to December 31, which was credited to Unearned Revenue on October 1. b. Paid $ ...Define cash and cash equivalents and indicate the types of items that should be reported as cash and cash equivalents. Use the information in M5- 10 to prepare the May 31 bank reconciliation. Match each of the following cash payment activities to the internal control principle to which it best relates. Enter the appropriate letter in the space provided.
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