dule $\frac{1}{?}$ Chapter $3a$

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Exercise $3-8($Algo$)$ Record year$-$end adjusting entries $($LO$3-3)$

Consider the following transactions for Huskies Insurance Company:

Income taxes for the year total $$43,000$ but won't be paid until next April $15.$

On June $30,$ the company lent its chief financial officer $$51,000$; principal and interest at $6\%$ are due in one year.

On October $1,$ the company received $$12,000$ from a customer for a one$-$year property insurance policy. Deferred Revenue was credited on October $1.$

Required:

For each item, record the necessary adjusting entry for Huskies Insurance at its year$-$end of December $31.$ No adjusting entries were made during the year. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations.$)$

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Journal entry worksheet

Journal entry worksneet

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$2$

$3$

$2\mathrm{.}66$

Income taxes for the year total $$43,000$ but won't be paid until next April $15.$ Record the adjusting entry for income taxes at its year$-$end of December $31.$

Print

Reference:

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Print

References

Journal entry worksheet

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$2\mathrm{.}66$

points

On June $30,$ the company lent its chief financial officer $$51,000$; principal and interest at $6\%$ are due in one year. Record the adjusting entry for interest at its year$-$end of December $31.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Journal entry worksheet

$2\mathrm{.}66$

points

Print

$2$

$q,$

$1$

Siif

$3$

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worksheet

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