Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Idonije Insurance Co. Idonije uses the accounts Unearned Service Revenue and Service Revenue.
Answer to relevant QuestionsThe bookkeeper for Juaquin Company asks you to prepare the following accrued adjusting entries at December 31.1. Interest on notes payable of $400 is accrued.2. Services provided but not recorded total $1,900.3. Salaries ...Numerous timing concepts are discussed on pages 100–102. A list of concepts is provided below in the left column, with a description of the concept in the right column. There are more descriptions provided than concepts. ...Garrett Wolfe Company has the following balances in selected accounts on December 31, 2012.Accounts Receivable $ -0-Accumulated Depreciation—Equipment -0-Equipment 7,000Interest Payable -0-Notes Payable ...The trial balances before and after adjustment for Matthews Company at the end of its fiscal year are presented on the next page.InstructionsPrepare the adjusting entries that weremade.Olsen Graphics Company was organized on January 1, 2012, by Gwen Olsen. At the end of the first 6 months of operations, the trial balance contained the accounts shown below.Analysis reveals the following additional data.1. ...
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