Ben Cartwright Pest Control has the following balances in selected accounts on December 31, 2017. Accounts...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ben Cartwright Pest Control has the following balances in selected accounts on December 31, 2017. Accounts Receivable € Accumulated Depreciation – Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 6,650 20,000 3,000 2,940 36,000 All of the accounts have normal balances. The information below has been gathered at December 31, 2017. 1. Depreciation on the equipment for 2017 is €1,250. 2. Ben Cartwright Pest Control borrowed €20,000 by signing a 6%, one-year note on July 1, 2017. 3. Ben Cartwright Pest Control paid €3,000 for 12 months of insurance coverage on October 1, 2017. 4. Ben Cartwright Pest Control pays its employees total salaries of €10,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2017, employees were paid for the week ending December 24, 2017. All employees worked the five days ending December 31, 2017. 5. Ben Cartwright Pest Control performed disinfecting services for a client in December 2017. The client will be billed €3,000. 6. On December 1, 2017, Ben Cartwright Pest Control collected €36,000 for disinfecting processes to be performed from December 1, 2017, through May 31, 2018. 7. A count of supplies on December 31, 2017, indicates that supplies of €750 are on hand. Instructions Prepare in journal form with explanations, the adjusting entries for the seven items listed for Ben Cartwright Pest Control. o ooog Ben Cartwright Pest Control has the following balances in selected accounts on December 31, 2017. Accounts Receivable € Accumulated Depreciation – Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 6,650 20,000 3,000 2,940 36,000 All of the accounts have normal balances. The information below has been gathered at December 31, 2017. 1. Depreciation on the equipment for 2017 is €1,250. 2. Ben Cartwright Pest Control borrowed €20,000 by signing a 6%, one-year note on July 1, 2017. 3. Ben Cartwright Pest Control paid €3,000 for 12 months of insurance coverage on October 1, 2017. 4. Ben Cartwright Pest Control pays its employees total salaries of €10,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2017, employees were paid for the week ending December 24, 2017. All employees worked the five days ending December 31, 2017. 5. Ben Cartwright Pest Control performed disinfecting services for a client in December 2017. The client will be billed €3,000. 6. On December 1, 2017, Ben Cartwright Pest Control collected €36,000 for disinfecting processes to be performed from December 1, 2017, through May 31, 2018. 7. A count of supplies on December 31, 2017, indicates that supplies of €750 are on hand. Instructions Prepare in journal form with explanations, the adjusting entries for the seven items listed for Ben Cartwright Pest Control. o ooog
Expert Answer:
Answer rating: 100% (QA)
General Journal Date Account Titles and Explanation Ref D... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Posted Date:
Students also viewed these accounting questions
-
Kinder Company has the following balances in selected accounts on June 30, 2017, its fiscal year end. Accounts Receivable.............................................$0 Accumulated...
-
Kinder Company has the following balances in selected accounts on June 30, 2021, its fiscal year end. Accounts Receivable ................................................. $ 0 Accumulated...
-
Hwang Ltd. has the following balances in selected accounts on December 31, 2020. Accounts Receivable NT$ .................................................. 0 Accumulated DepreciationEquipment...
-
What is the importance of developing plans to achieve organizational goals? explain with examples
-
Executives at Gammon & Ninowski Media Investments, a top television station brokerage, believe that the current average price for an independent television station in the United States is $125...
-
After baking a pie for the two nieces and two nephews who are visiting her, Aunt Nellie leaves the pie on her kitchen table to cool. Then she drives to the mall to close her boutique for the day....
-
Use the Poisson distribution to approximate the binomial probability \(b(1 ; 100,0.02)\).
-
At the end of its first year of operations, the Leo Company lists the following accounts and ending account balances related to stock transactions and dividends: During the first year the following...
-
Assembly Line with Indexed Components What happen if we need two specific components to start the service (index has to match)? E.g., assembling of a car with both left and right doors. Assume the...
-
In its annual report, WRM Athletic Supply, Inc. includes the following five-year financial summary: Requirements Analyze the company's financial summary for the fiscal years 2016-2020 to decide...
-
You buy a new computer for $1,500. The value of the computer decreases by 6% every year. How much is the computer worth after 4 years?
-
Describe fixed, variable, and mixed cost behavior. Distinguish between direct costs and indirect costs. Give an example of each. Outsourcing is a major financial decision that companies rely on for...
-
What major changes are occurring in product and process technology? What is Amazon's position in these technologies? What major generic substitutes might replace this product? What are the digital...
-
Barry and Gary have an Uncle Larry. When Barry was born, Uncle Larry gave him 100 shares of stock in GTX Corp, the price of the stock was $10.00/share, and it has returned 8% annually. Uncle Larry...
-
The following exchange rates are simultaneously quoted in New York and Frankfurt 1.4355 $/ (New York) 0.6825 /$ (Frankfurt) (a) Is there any arbitrage opportunity with these quotations? (b) How would...
-
4. Currently ABC mutual funds portfolio worth RM500 million and its liabilities and shares outstanding are RM10 million and 20 million. a) What is NAV fund? b) c) (2 marks) After a year, the fund is...
-
There is an island containing two types of people: knights who always tell the truth, and knaves who always lie. As you arrive at the island, you are approached by three natives, A, B, and C. A says:...
-
The Taylor's series expansion for cosx about x = 0 is given by: where x is in radians. Write a user-defined function that determines cosx using Taylor's series expansion. For function name and...
-
List the common kinds of errors that can happen related to inventory?
-
Cecilia Hernandez earned $60,100 in 2015 and was paid monthly. She worked for Hill Side Tours for all of 2015. Using the formulas, what were her CPP and EI deductions in (a) January 2015 and (b)...
-
Rowen Company has accounts receivable of $241,000 at September 30, 2017. An analysis of the accounts shows the following: Month of Sale Balance September...............................$170,000...
-
Assuming that the web acts like a spring, what is the spring constant of the web? A. \(0.039 \mathrm{~N} / \mathrm{m}\) B. \(0.39 \mathrm{~N} / \mathrm{m}\) C. \(3.9 \mathrm{~N} / \mathrm{m}\) D....
-
Given what you have calculated for the period of the full oscillation in this model, what is the landing-to-liftoff time for the stretch and rebound of the sprinter's foot? A. \(0.050 \mathrm{~s}\)...
-
If we imagine a full cycle of the oscillation, with the woman bouncing up and down and the tendon providing the restoring force, what will her oscillation period be? A. \(0.10 \mathrm{~s}\) B. \(0.15...
Study smarter with the SolutionInn App