A partial tabular summary for Pharoah Company on March 31 of the current year includes the...
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A partial tabular summary for Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Liabilities Stockholders' Equity Acc. Unearn. Reatined Earning Prepaid Depr.- Int. Notes Rent Com. Supplies + Insurance Equip. Equip. Pay. Pay. Rev. + Stock Rev. Exp. + Bal. 3,510 2,250 25,500 -7,650 18,800 10,750 An analysis of the accounts shows the following. 1. The equipment depreciates $300 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $310 is accrued on the notes payable. 4. Supplies on hand total $930. 5. Insurance expires at the rate of $250 per month. Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Асс. Dej Supplies Prepaid Insurance Equip. Equip Bal. 3,510 2,250 25,500 -7,650 1. 2. 3. 4. 2580 5. -750 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Acc. Depr.- Int. Unearn. Re Equip. Pay. Notes Pay. Rev. -7,650 18,800 10,750 -900 310 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Com. Retained Earnings Stock Rev. Exp. Div 900 5375 310 2580 750 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Rev. Exp. Div 900 5375 310 2580 750 A partial tabular summary for Pharoah Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Liabilities Stockholders' Equity Acc. Unearn. Reatined Earning Prepaid Depr.- Int. Notes Rent Com. Supplies + Insurance Equip. Equip. Pay. Pay. Rev. + Stock Rev. Exp. + Bal. 3,510 2,250 25,500 -7,650 18,800 10,750 An analysis of the accounts shows the following. 1. The equipment depreciates $300 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $310 is accrued on the notes payable. 4. Supplies on hand total $930. 5. Insurance expires at the rate of $250 per month. Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Асс. Dej Supplies Prepaid Insurance Equip. Equip Bal. 3,510 2,250 25,500 -7,650 1. 2. 3. 4. 2580 5. -750 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Acc. Depr.- Int. Unearn. Re Equip. Pay. Notes Pay. Rev. -7,650 18,800 10,750 -900 310 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Com. Retained Earnings Stock Rev. Exp. Div 900 5375 310 2580 750 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Rev. Exp. Div 900 5375 310 2580 750
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Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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