Based on the data in Exercise 4-24, prepare the adjusting entries for Alert Security Services Co. In
Question:
Based on the data in Exercise 4-24, prepare the adjusting entries for Alert Security Services Co.
In Exercise 4-24, Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the end-of-period spreadsheet (work sheet) for the year ended October 31, 2014, shown below.
The data for year-end adjustments are as follows:
a. Fees earned, but not yet billed, $13.
b. Supplies on hand, $4.
c. Insurance premiums expired, $10.
d. Depreciation expense, $3.
e. Wages accrued, but not paid,$1.
Alert Security Services Co. End-of-Period Spreadsheet(Work Sheet) For the Year Ended October 31, 2014 Unadjusted Adjusted Trial Balance Trial Balance Dr 12 90 Adjustments Account Title Cash Accounts Receivable Supplies Prepaid Insurance 12 190 50 Equipment Accum. Depr.-Equipment Accounts Payable Wages Payable Capital Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Expense Miscellaneous Expense 4 36 50 210 110 12 0 0 500 500
Step by Step Answer:
2014 Adjusting Entries Oct 31 Accounts Receivable 13 Fees Earned 13 Accrue...View the full answer
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Based on the data in Exercise prepare a contribution analysis of the variable costs for Romero Products Inc. for the year ended December 31, 2014. In Exercise The following data for Romero Products...
-
Based on the data in Exercise 7-11 and assuming that cost was determined by the FIFO method, show how the merchandise inventory would appear on the balance sheet.
-
Based on the data in Exercise 22-7 and assuming that the average compensation per hour for staff is $30 and for partners is $125, prepare a professional labor cost budget for Roberts and Chou, CPAs,...
-
What is the advantage of using computing to simulate an automobile crash test as opposed to actually staging a crash?
-
Tausonite, a mineral composed of Sr, O, and Ti, has the cubic unit cell shown in the drawing. (a) What is the empirical formula of this mineral? (b) It is easy to see that Ti is coordinated by six...
-
After exercising for a few minutes, a person has a respiratory cycle for which the rate of air intake is Find the volume, in liters, of air inhaled during one cycle by integrating the function over...
-
Consider a $4^{2} \times 3^{2} \times 2$ factorial design. a. How many factors are included in this design? b. How many levels are included in each factor? c. How many experimental conditions, or...
-
Like many other entrepreneurs, when Laura Trust and Alan Litchman decided to buy a business, they raised some money from friends and family. Unlike many entrepreneurs, however, they were so adamant...
-
Same facts as in above example no . 5 with this additional information. Maria s $ 1 0 0 , 0 0 0 basis in her LLC interest included a $ 1 2 0 , 0 0 0 share of the LLC s liabilities. Rather than a cash...
-
A store maintains data on customers, products and purchase records in three tables: CUSTOMER, PRODUCT, PURCHASE. The store manager wants to know which product is on its maximum discount for each...
-
Based on the data in Exercise 4-25, prepare an income statement, retained earnings statement, and balance sheet for Alert Security Services Co. In Exercise 4-25, Alert Security Services Co. offers...
-
Based on the data in Exercise 4-25, prepare the closing entries for Alert Security Services Co. In Exercise 4-25, Alert Security Services Co. offers security services to business clients. Complete...
-
Class Act Catering Company had a deluxe, portable barbecue with a book value of $7,000 at its December 31, 2019, year-end. The barbecue had an estimated remaining useful life of five years and a $200...
-
The following graph depicts the market for business investments in the United States. The green line represents the relationship between the long- term interest rate and the amount of business...
-
nd Report ptable if lease i deprecia method, xcept on ement. basis, ARUTO e year: 0700 asis ,000 000 000 000 000 EO Selling Price Downpayment Installment: Problem 1. INSTALLMENT REPORTING Mona is a...
-
Give the first 3 strings in the L-ordering in each of the following languages over = {0, 1} below. If the language has no enough number of strings, then list all its strings. Let L1 = {&, 1, 10,...
-
N23 B 1 Function: RATE, Formula: Multiply, Subtract; Cell Referencing 2 3 Using Excel to Account for Notes Payable 4 PROBLEM X fx 9 10 5 Snade Corporation issued a five-year note to Hames Corp. on...
-
Section A [100 marks] Ptoject instructions: I. As a consultant in logistics management, you are approached by Samsung to compile a report on applying of transport management principles in their...
-
Using the four-step procedure, determine the mass in grams of I 2 required to make 10.0 g of HI. Write out all your steps and cross out all units that cancel.
-
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
-
Discuss how direct-response advertising and sales letters can be used to identify prospects.
-
Cash Company has income from operations of $112,500, invested assets of $750,000, and sales of $1,875,000. Use the DuPont formula to compute the rate of return on investment and show (a) The profit...
-
Cash Company has income from operations of $112,500, invested assets of $750,000, and sales of $1,875,000. Use the DuPont formula to compute the rate of return on investment and show (a) The profit...
-
Partially completed budget performance reports for Saskatoon Company, a manufacturer of light duty motors, follow: a. Complete the budget performance reports by determining the correct amounts for...
-
Suppose a, b, and c are int variables and a = 5 and b = 6. What value is assigned to each variable after each statement executes? If a variable is undefined at a particular statement, report UND...
-
In terms of hydrogen ion concentration, how much more acidic is a solution with a pH of 4.0 than a solution with a pH of 5.5? Round your answer to the nearest tenth. Show Recall that pH, p(x), is...
-
The following was submitted under the original assignment of "write small program that uses dynamic binding".. now what is requested is to suggest another way to take advantage of the dynamic biding...
Study smarter with the SolutionInn App