At September month-end, Barton Corporation gathered the information listed below for the preparation of adjusting entries....
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At September month-end, Barton Corporation gathered the information listed below for the preparation of adjusting entries. Indicate whe increase (+), decrease (-), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a de increase in the same component but in a different account, select (+/-). a) $700 of the television advertising paid for in advance has been used. b) $1,000 of the insurance policy purchased in advance has expired. c) A review of the $12,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $10,200 at the end of the month. d) $750 of the rent paid to Barton Corporation in advance has been earned. e) $2,000 of the rent paid in advance has expired. f) A review of the $54,000 unadjusted balance in the prepaid rent account shows a remaining balance of $49,250 at the end of the month. 9) Barton Corporation rents part of its building for a monthly fee of $2,250. The rent for the month just past has not been received. h) The monthly depreciation on the equipment is $270. i) $4,500 of the insurance policy purchased in advance has expired. 1) Unrecorded and uncollected consulting fees at the end of the month were $3,500. k) $20,000 of the rent paid in advance has expired. 1) The estimated monthly depreciation on the building is $440. m) Of the consulting fees Barton Corporation received in advance, $600 has been earned. n) Interest of $110 on notes receivable is unrecorded and unpaid. o) A review of the $24,000 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $23,400. A L +E At September month-end, Barton Corporation gathered the information listed below for the preparation of adjusting entries. Indicate whe increase (+), decrease (-), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a de increase in the same component but in a different account, select (+/-). a) $700 of the television advertising paid for in advance has been used. b) $1,000 of the insurance policy purchased in advance has expired. c) A review of the $12,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $10,200 at the end of the month. d) $750 of the rent paid to Barton Corporation in advance has been earned. e) $2,000 of the rent paid in advance has expired. f) A review of the $54,000 unadjusted balance in the prepaid rent account shows a remaining balance of $49,250 at the end of the month. 9) Barton Corporation rents part of its building for a monthly fee of $2,250. The rent for the month just past has not been received. h) The monthly depreciation on the equipment is $270. i) $4,500 of the insurance policy purchased in advance has expired. 1) Unrecorded and uncollected consulting fees at the end of the month were $3,500. k) $20,000 of the rent paid in advance has expired. 1) The estimated monthly depreciation on the building is $440. m) Of the consulting fees Barton Corporation received in advance, $600 has been earned. n) Interest of $110 on notes receivable is unrecorded and unpaid. o) A review of the $24,000 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $23,400. A L +E
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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