Selected account balances before adjustment for Intuit Realty at November 30, the end of the current...
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Selected account balances before adjustment for Intuit Realty at November 30, the end of the current year, follow: Debits Credits Accounts Receivable $78,060 Equipment 120,000 Accumulated Depreciation Equipment - $12,020 Prepaid Rent 9,800 Supplies 2,340 Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $700. Depreciation of equipment during year, $1,170. Rent expired during year, $7,180. Wages accrued but not paid at November 30, $2,260. Unearned fees at November 30, $4,530. . Unbilled fees at November 30, $5,390. 10,770 455,870 153,780 Required: 1. Journalize the six adjusting entries required at November 30, based on the data presented. Nov. 30 30 Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $700. Depreciation of equipment during year, $1,170. Rent expired during year, $7,180. Wages accrued but not paid at November 30, $2,260. Unearned fees at November 30, $4,530. Unbilled fees at November 30, $5,390. Required: 2.340 10,770 455,870 153,780 1. Journalize the six adjusting entries required at November 30, based on the data presented. Nov. 30 30 30 30 30 30 2. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Fees earned Depreciation expense Net income by by $ by $ 3. What would be the effect on the balance sheet if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Accumulated depreciation Total assets Unearned fees Total liabilities Owner's equity Total liabilities and owner's equity by $ by $ by $ by $ by $ by $ 4. What would be the effect on the "Net increase or decrease in cash" on the statement of cash flows if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Selected account balances before adjustment for Intuit Realty at November 30, the end of the current year, follow: Debits Credits Accounts Receivable $78,060 Equipment 120,000 Accumulated Depreciation Equipment - $12,020 Prepaid Rent 9,800 Supplies 2,340 Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $700. Depreciation of equipment during year, $1,170. Rent expired during year, $7,180. Wages accrued but not paid at November 30, $2,260. Unearned fees at November 30, $4,530. . Unbilled fees at November 30, $5,390. 10,770 455,870 153,780 Required: 1. Journalize the six adjusting entries required at November 30, based on the data presented. Nov. 30 30 Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $700. Depreciation of equipment during year, $1,170. Rent expired during year, $7,180. Wages accrued but not paid at November 30, $2,260. Unearned fees at November 30, $4,530. Unbilled fees at November 30, $5,390. Required: 2.340 10,770 455,870 153,780 1. Journalize the six adjusting entries required at November 30, based on the data presented. Nov. 30 30 30 30 30 30 2. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Fees earned Depreciation expense Net income by by $ by $ 3. What would be the effect on the balance sheet if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Accumulated depreciation Total assets Unearned fees Total liabilities Owner's equity Total liabilities and owner's equity by $ by $ by $ by $ by $ by $ 4. What would be the effect on the "Net increase or decrease in cash" on the statement of cash flows if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year?
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To journalize the six adjusting entries required at November 30 based on the given da... View the full answer
Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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