Question: i need to solve the second picture not the first one HW - Upload (2) [Protected View] 2 AB D 27 Just the Ticket, Inc.
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HW - Upload (2) [Protected View] 2 AB D 27 Just the Ticket, Inc. adjusts it accounts at the end of each month. 28 Following information is given for the adjusting entries required at March 31: 29 30 a.Depreciation of the furniture is based on estimated useful life of four years. 31 The furniture was purchased several years ago at a cost of $24,000. 32 b.The company pays employees each Friday. The daily payroll is $1,000, March 31 falls on a Monday. 33 c. On March 1, the company renewed its rental agreement paying $4,000 cash for 34 eight months' rent in advance. 35 d.On February 1, $6,000 was collected in advance for six months from a group of customers 36 and the amount was credited to unearned revenue account. 37 e.Invoices representing $8,000 of services performed during the month have not been 38 recorded as of March 31. 39 f.Purchased supplies on account, $900. 2/3 of the supplies were estimated to be 40 used in the month March. 41 42 Required: 43 Prepare necessary adjusting entries as of March 31 45 adjusting entries account title dr cr date 48 arch 31 a 50 arch 31 bl 51 52 jarch 31 cl 54 arch 31 d 55 Question Ready Listed below in random order are the items to be included in the balance sheet of Deep Rive Lodge at December 31, 2011: $430,000 Equipment Land. Accounts Payable.. Accounts Receivable .. Salaries Payable Interest Payable $ 9,000 140,000 27,400 3,300 13,200 4,000 Buildings Capital Stock. ... Cash ........... Furnishings .............. Notes Payable. Retained Earnings .. 9,100 22,600 217,000 202,400 Instructions a. Prepare a balance sheet at December 31, 2011. Include a proper heading and organize your balance sheet similar to the illustrations shown in Chapter 2. (After Buildings," you may list the remaining assets in any order.) You will need to compute the amount to be shown for Capital Stock b. Assume that no payment is due on the notes payable until 2013. Does this balance shee indicate that the company is in a strong financial position as of December 31, 2011? Explair briefly. Show all
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