Use the following account T-balances (assume normal balances) and correct balance information to make the December 31
Question:
Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries.
Transcribed Image Text:
Unearned fee revenue Supplies Interest payable T-Account Balance $12,000 3,200 1,850 Correct Balance $9,000 1,050 1,975
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
To make the December 31 adjusting journal entries we need to look at the differences between the Tac...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: Balance sheet Income statement Statement of retained earnings Post-closing trial...
-
The trial balance of Shawn Merry, CPA, is dated March 31, 2018: During April, the business completed the following transactions: Apr. 4 Collected $2,500 cash from a client on account. 8 Performed tax...
-
The trial balance of John Menning, CPA, is dated March 31, 2018: During April, the business completed the following transactions: Apr. 4 Collected $6,000 cash from a client on account. 8 Performed...
-
Give parametric equations and parameter intervals for the motion of a particle in the xy-plane. Identify the particles path by finding a Cartesian equation for it. Graph the Cartesian equation....
-
Is beta the only determinant of a company's return?
-
Frankfurt Electronics produces a component internally using a state-of-the-art technology. The operations manager wants to determine the optimal lot size to ensure that the total annual inventory...
-
What is the efficiency wage hypothesis? Explain what employers might gain from paying wages above the market-clearing level.
-
The file statepop.dat, used in Example 6.5, also contains information on total number of farms, number of veterans, and other items. 1. Plot the total number of farms versus the probabilities of...
-
A firm requires an investment of $18,000 and will return $25,000 after one year. If the firm borrows $10,000 at 6%, what is the return on levered equity?
-
Adjustment data for SLO Health Care Inc. for January are as follows: 1. Insurance expired, $450. 2. Supplies on hand on January 31, $600. 3. Depreciation on building, $1,150. 4. Unearned rent revenue...
-
If an adjustment includes an entry to Accumulated Depreciation, which type of adjustment is it? A. Accrual B. Deferral C. Estimate D. Cull
-
Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries. Prepaid insurance Salaries payable Unearned rental...
-
Three particles are listed in the table. The mass and speed of each particle are given as multiples of the variables m and v, which have the values m = 1.20 1028 kg and v = 0.200c. The speed of...
-
If markets are hypercompetitive, this makes the use of any business strategy redundant. Discuss.
-
What are the primary advantages of going public?
-
In groups of three, represent a consulting firm. You have been hired by a diversified multinational corporation to advise on the political and economic environment in different countries. The company...
-
Explain how an understanding of disruptive innovation can prevent an incumbent organization from losing its mainstream customers.
-
What is a post-audit?
-
What are some reasonable goals for a union? Use the tools of supply and demand to explain how a union might pursue its goals, whatever they are. Consider a union that has been in the news recently....
-
Anna, a high school counselor, devised a program that integrates classroom learning with vocational training to help adolescents at risk for school dropouts stay in school and transition to work...
-
Sterlings records show the work in process inventory had a beginning balance of $4,000 and an ending balance of $3,000. How much direct labor was incurred if the records also show: Materials used...
-
Carltons Kitchens makes two types of pasta makers: Strands and Shapes. The company expects to manufacture 70,000 units of Strands, which has a per-unit direct material cost of $10 and a per-unit...
-
Identify several causes of a favorable labor rate variance.
-
Select all that apply The yield curve for interest rates can have what type of slope? Multiple select question. Always must be upward sloping Downward Upward Flat
-
2) The following stresses =12 MPa, =6 MPa, ==4 MPa are present in a plane stress element. (Utilize Mohr's Circle) a. Calculate maximum principal stress (MPa) b. Calculate minimum principal stress...
-
You are evaluating the HomeNet project under the following assumptions: Sales of 50 comma 000 units in year 1 increasing by 53 comma 000 units per year over the life of the project, a year 1 sales...
Study smarter with the SolutionInn App