Question: =+PR 3-3B Adjusting entries obj. 2 138 Chapter 3 The Adjusting Process For preparing the adjusting entries, the following data were assembled: a. Fees earned

=+PR 3-3B Adjusting entries obj. 2 138 Chapter 3 The Adjusting Process For preparing the adjusting entries, the following data were assembled:

a. Fees earned but unbilled on November 30 were $1,300.

b. Supplies on hand on November 30 were $3,100.

c. Depreciation of equipment was estimated to be $3,500 for the year.

d. The balance in unearned fees represented the November 1 receipt in advance for services to be provided. Only $4,000 of the services was provided between November 1 and November 30.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Public Accounting Questions!

General Ledger PR 3-3B Adjusting entries OBJ. 2, 3, 4, 5 Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first...

PR 3-3A Adjusting entries OBJ. 2, 3, 4,5 Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank...

PR 3-3A Adjusting entries Obj. 2, 3, 4, S Reliable Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations AL LEDGER...

PR 3-1A Adjusting entries ObJ. 2 On March 31, 2016, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty: The supplies account balance on...

SHOW ME HOW EXCHA TEMPLATE PR 3-1A Adjusting entries Obj. 2, 3, 4 On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty The...

PR 3-3A Adjusting entries OBJ. 2, 3,4,5 Milbank Repairs \& Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: For...

apter 3 The Adjusting Process lems: Series A PR 3-1A Adjusting entries OBJ. 2, 3, 4 On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty:...

O Mon 12:27 AM syani's Kindle for Mac - Accounting Page 139 of 1254 Dell Net sales Cost of goods sold (expense) Operating expenses Operating income (loss) $62,071 (48.260) (9,380) $ 4,431...

Trial Balances October 31, 2019 Unadjusted Adjusted Debit Credit Debit Credit Balances Balances Balances Balances Cash ... . ... ................ 10 10 Accounts Receivable. ... .. 38 44 Supplies ....

PR 3-1A Adjusting entries OBJ. 2, 3, 4 On December 31, the following data were accumulated for preparing the adjusting entries for Flagship Realty: The supplies account balance on December 31 is...

Respond to the following: 1. What were the significances of the voyages of Columbus, Da Gama and Magellan? 2. Analyze the beliefs and motives of three central figures of the scientific revolution....

Alan writes to Brenda to sell his stamp collection to Brenda. Brenda, who has stopped saving stamps, gives Alans letter to another collector named Craig, and Craig writes a letter of acceptance to...

. Lernout & Haus ( L&H ) was the world s leading provider of speech and language technology products, solutions and services to businesses and individuals worldwide. Both Microsoft and Intel invested...

The MINIX 3 procedure mini_rec contains a loop. Explain what it is for.

Dell Inc. and Hewlett-Packard Company (HP) compete with each other in the personal computer market. Dell's primary strategy is to assemble computers to customer orders, rather than for inventory....

The following data were taken from the financial statements of Weal Construction Inc. for December 31, 2010 and 2009: The income before income tax was $720,000 and $560,000 for the years 2010 and...

Hasbro and Mattel, Inc., are the two largest toy companies in North America. Condensed liabilities and stockholders' equity from a recent balance sheet are shown for each company as follows (in...

Natalie owns a condominium near Cocoa Beach in Florida. In 2021, she incurs the following expenses in connection with her condo: Insurance Advertising expense Mortgage interest Property taxes Repairs...

1 Which of the following would be classified as a liability? 3 pts Fulton Co is planning to invest in new machinery and has been quoted a price of 300,000. Delta's business manufactures a product...

Which of the following costs is not included as inventory on the balance sheet? Freight-out costs for finished goods sent to retailers. None of the costs included here are considered inventory on the...