2. For Roland Company in Industry J, enter the December 31 adjustments in the following table...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
2. For Roland Company in Industry J, enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Important! Be sure to click the correct Industry at the top of the dashboard. Industry J Account Title No. 101 Cash 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 A. Ronald, Capital 404 Revenue 623 Wages expense Insurance expense 637 652 Supplies expense Total $ Dr. Unadjusted Trial Balance 27,840 0 5,800 6,960 0 0 0 40,600 $ $ Cr. 0 11,600 29,000 0 40,600 $ Dr. Adjustments 232 232 $ Cr. 0 $ Dr. Adjusted Trial Balance 0 $ Cr. 0 ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry - Purchased Insurance Dec 1 Dec 7 B _C__ __D_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo (Dec 13 Dec 24 Jan 5 Finished Work for Telo Dec 1 Prepaid a 24 month insurance policy (coverage starting immediately) for $6,960 cash. Jan 12 ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A__ Purchased Insurance Dec 1 Dec 7 Purchased Sup _E_ _H_ Selected December-January Transactions Dec. 31 Year-End B Started Work for Telo Dec 13 Dec 24 Dec 7 Purchased supplies for $5,800 cash. Telo 60% Complete dvance Jan 5 Wages Paid Additional Information as of December 31 Finished Work for Telo Jan 12 ABX 25% Complete Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A_ B Purchased Insurance Dec 1 Dec 7 _E_ _H_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo Dec 13 Dec 24 Telo 60% Complete Jan 5 Additional Information as of December 31 Dec 13 Agreed to do $29,000 worth of work for Telo over the next 30 days. Payment is to be received when the work is completed on Jan. 12. 5 Finished Work for Telo Jan 12 ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry- Purchased Insurance Dec 1 __A____ Dec 7 _E_ __H_ Selected December-January Transactions Dec. 31 Year-End B Started Work for Telo Purchased Supplies Dec 13 Dec 24 Jan 5 Telo 60% Complete Additional Information as of December 31 Finished Work for Telo Dec 24 Received $11,600 cash in advance to perform work for ABX over the next four weeks. Jan 12 ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry Purchased Insurance Dec 1 Dec 7 B Started Work for Telo Purchased Supplies Selected December-January Transactions Dec. 31 Year-End Dec 13 _D_ Telo 60% Complete Dec 24 G Received Cash in Advance | I Jan 5 Additional Information as of December 31 Finished Work for Telo Jan 12 Jan 5 Paid wages of $2,320 cash to workers. ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A____ Purchased Insurance Dec 1 Dec 7 _E_ _H_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo Purchased Supplies Dec 13 Dec 24 Telo 60% Complete Jan 5 Additional Information as of December 31 Finished Work for Telo Jan 12 Jan 12 Received $29,000 cash from Telo for work performed over the last 30 days. ABX 25% Complete Additional Information as of December 31 tableau Telo 60% Complete Supplies Remaining at Year-End ABX 25% Complete Wages Earned By Workers but not yet Paid at Year-End i Supplies Remaining at Year-End: $2,030 K + O Additional Information as of December 31 ++ ableau Telo 60% Complete Supplies Remaining at Year-End ABX 25% Complete Wages Earned By Workers but not yet Paid at Year-End Wages Earned By Workers but not yet Paid at Year-End: $1,450 K + 0 2. For Roland Company in Industry J, enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Important! Be sure to click the correct Industry at the top of the dashboard. Industry J Account Title No. 101 Cash 106 Accounts receivable 126 Supplies 128 Prepaid insurance 210 Wages payable 236 Unearned revenue 301 A. Ronald, Capital 404 Revenue 623 Wages expense Insurance expense 637 652 Supplies expense Total $ Dr. Unadjusted Trial Balance 27,840 0 5,800 6,960 0 0 0 40,600 $ $ Cr. 0 11,600 29,000 0 40,600 $ Dr. Adjustments 232 232 $ Cr. 0 $ Dr. Adjusted Trial Balance 0 $ Cr. 0 ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry - Purchased Insurance Dec 1 Dec 7 B _C__ __D_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo (Dec 13 Dec 24 Jan 5 Finished Work for Telo Dec 1 Prepaid a 24 month insurance policy (coverage starting immediately) for $6,960 cash. Jan 12 ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A__ Purchased Insurance Dec 1 Dec 7 Purchased Sup _E_ _H_ Selected December-January Transactions Dec. 31 Year-End B Started Work for Telo Dec 13 Dec 24 Dec 7 Purchased supplies for $5,800 cash. Telo 60% Complete dvance Jan 5 Wages Paid Additional Information as of December 31 Finished Work for Telo Jan 12 ABX 25% Complete Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A_ B Purchased Insurance Dec 1 Dec 7 _E_ _H_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo Dec 13 Dec 24 Telo 60% Complete Jan 5 Additional Information as of December 31 Dec 13 Agreed to do $29,000 worth of work for Telo over the next 30 days. Payment is to be received when the work is completed on Jan. 12. 5 Finished Work for Telo Jan 12 ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry- Purchased Insurance Dec 1 __A____ Dec 7 _E_ __H_ Selected December-January Transactions Dec. 31 Year-End B Started Work for Telo Purchased Supplies Dec 13 Dec 24 Jan 5 Telo 60% Complete Additional Information as of December 31 Finished Work for Telo Dec 24 Received $11,600 cash in advance to perform work for ABX over the next four weeks. Jan 12 ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry Purchased Insurance Dec 1 Dec 7 B Started Work for Telo Purchased Supplies Selected December-January Transactions Dec. 31 Year-End Dec 13 _D_ Telo 60% Complete Dec 24 G Received Cash in Advance | I Jan 5 Additional Information as of December 31 Finished Work for Telo Jan 12 Jan 5 Paid wages of $2,320 cash to workers. ABX 25% Complete ! Required information [The following information applies to the questions displayed below.] Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Select Industry __A____ Purchased Insurance Dec 1 Dec 7 _E_ _H_ Selected December-January Transactions Dec. 31 Year-End Started Work for Telo Purchased Supplies Dec 13 Dec 24 Telo 60% Complete Jan 5 Additional Information as of December 31 Finished Work for Telo Jan 12 Jan 12 Received $29,000 cash from Telo for work performed over the last 30 days. ABX 25% Complete Additional Information as of December 31 tableau Telo 60% Complete Supplies Remaining at Year-End ABX 25% Complete Wages Earned By Workers but not yet Paid at Year-End i Supplies Remaining at Year-End: $2,030 K + O Additional Information as of December 31 ++ ableau Telo 60% Complete Supplies Remaining at Year-End ABX 25% Complete Wages Earned By Workers but not yet Paid at Year-End Wages Earned By Workers but not yet Paid at Year-End: $1,450 K + 0
Expert Answer:
Answer rating: 100% (QA)
Based on the information provided in the images we need to enter the December 31 adjustments for the prepaid insurance supplies accrued wages accrued ... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Posted Date:
Students also viewed these accounting questions
-
Lummer plc has a current and target leverage ratio of 0.8 (debt/total assets), the cost of equity of 20 per cent and the long- term finance cost from loans is 16 per cent. The corporation tax rate is...
-
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts....
-
The data below are the calories and grams of sugar in some popular store bought cookies. Calories 143 Grams of Sugar 12 97 9 200 11 149 19 84 4 57 9 198 21
-
What is the role of safety stock in an MRP system?
-
Solve the following first order ordinary differential equations: dy a)- dx 1 = x(x-y)
-
On April 1, 2006, US Ultracom issued 7\%, 10-year bonds payable with maturity value of \(\$ 400,000\). The bonds pay interest on March 31 and September 30, and US Ultracom amortizes premium and...
-
Thatcher Corporations bonds will mature in 10 years. The bonds have a face value of $1,000 and an 8 percent coupon rate, paid semiannually. The price of the bonds is $1,100. The bonds are callable in...
-
3. For what value(s) of x is the denominator equal to zero? (x+1)(x-12) (a) 7x - 3 x+x-12 (b) (x - 8)2
-
In the Bombadier Company, Division A has a product that can be sold either to outside customers or to Division B. Information about these divisions is given below: Case 1 Case 2 Division A: Capacity...
-
What are the characteristic of RFLP analysis?
-
Social service worker field Writing aresearch paper incorporates all of the information literacy skills . You will be asked to find, read, evaluate, and understand information on the specific topic...
-
How might a communications program differ in Israel versus the UAE or Saudi Arabia? (Or pick two other countries.) Why? What cultural factors might be influencing those differences? Use examples to...
-
Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 6,000 shares of no-par common stock for $16 per share. May 15 Issues 700 shares of...
-
Martinez Corporation's adjusted trial balance contained the following accounts at December 31, 2025: Retained Earnings $127,100 Common Stock $752,500, Bonds Payable $103,300, Paid-in Capital in...
-
Looking at two linear equations, how can you tell that the corresponding lines are parallel, the same graph, or intersecting lines? How many solutions does each possibility have and why is that? Show...
-
Read the following text, and give back a thoughtful response purely from your perspective and please no data or stattistics.(At least a couple small paragraphs) Two terms that are significant to me...
-
How can a promoter avoid personal liability for pre-incorporation contracts?
-
Explain what it means to present current assets and current liabilities in order of liquidity and property, plant, and equipment in order of permanency on the statement of financial position.
-
The comparative, unclassified statement of financial position for Sylvester Ltd. shows the following balances at December 31: Additional information regarding 2018: 1. Net income was $57,000. 2. A...
-
Rupert Inc. reports the following selected information (in thousands) in its April 30, 2018, financial statements: ________________________________2018_________2017 Cash and cash...
-
A _______________ interval estimates the mean y-value for all individuals with a given x-value. In Exercises 3 and 4, fill in each blank with the appropriate word or phrase.
-
For a sample of size n = 20, the following values were obtained: b0 = 1.05, b1 = 4.50, se = 0.54, (x x )2 = 10.9, x = 8.52. Construct a 95% confidence interval for the mean response when x = 10.
-
In Exercises 9 and 10, use the given set of points to a. Compute b0 and b1. b. Compute the predicted value y for the given value of x. c. Compute the residual standard deviation se. d. Compute the...
Study smarter with the SolutionInn App