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College Accounting Chapters 1-13 15th Edition

Computing adjustments for accrued and prepaid expense items. For each of the following independent situations, indicate the adjusting entry that must be made on the December 31, 2019, worksheet. Omit descriptions. a. On December 31, 2019, the Notes Payable account at Northwood Manufacturing Company Exercise 12.4 Objective 12-2 had a balance of $16,000. This balance represented a three-month, 7.5 percent note issued on November l 436 CHAPTER 12 Accruals, Deferrals, and the Worksheet b. On January 2. 2019, Hitech Computer Consultants purchased flash drives, paper, and other c. On September 1.2019. North Dakota Manufacturing paid a premium of $14,640 in cash for d. On May 1, 2019, Headcase Beauty Salon signed a one-year advertising contract with a local supplies for $5,230 in cash. On December 31, 2019, an inventory of supplies showed that items costing $1.590 were on hand. The Supplies account has a balance of $5.230 a one-year insurance policy. On December 31, 2019, an examination of the insurance records showed that coverage for a period of four months had expired radio station and issued a check for $10,800 to pay the total amount owed. On December 31, 2019, the Prepaid Advertising account has a balance of S10,800