Question: LO 4 . 2 What two accounts are affected by the needed adjusting entries? supplies actual counts are lower than account balance employee salaries are

LO 4.2What two accounts are affected by the needed adjusting entries?
supplies actual counts are lower than account balance
employee salaries are due but not paid at year end
insurance premiums that were paid in advance have expired

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The Fleming Medical Group has had a modest net income recently, and the first six months of 2 0 2 2 indicate that their profit margin may be less than 2 % if current performance continues. The owners...

Q:

EB 4 . LO 4 . 2 What two accounts are affected by the needed adjusting entries? A . supplies actual counts are lower than account balance B . employee salaries are due but not paid at year end C ....

Q:

What two accounts are affected by the needed adjusting entries? A. Supplies actual counts are lower than account balance B. Employee salaries are due but not paid at year end C. Insurance premiums...

Q:

ID: A Name: 4. Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year. July 5 Purchased merchandise on account from...

Q:

CHAPTER 2: Review of Financial Statement Preparation, Analysis, and interpretation: Basic Financial Statements At the end of this lesson, you will be able to: Determine and identify the different...

Q:

1 YOUR NAME Consulting, Inc. 2 Worksheet 3 For the Month Ended January 31 Adjusting Entries Debit 1 Credit Unadjusted Trial Balance Debit Credit 34,000 62,000 8,000 9,000 114,000 12,000 77,500 5,000...

Q:

Stuck on how to start this homework! You dont need to do the memo, just tips on how to approach this would be helpful Kim Kayak Company is a service-based company that rents kayaks for use on local...

Q:

Hi Katrina, I have another accounting problem I need your help with. It's similar to the one you did on 4/4/2016. The due date for this one will be 4/10/2016, Will you be able to help? See below...

Q:

Hi Katrina, I have another accounting problem I need your help with. It's similar to the one you did on 4/4/2016. The due date for this one will be 4/10/2016, Will you be able to help? See below...

Q:

I need help with following questions from the homework. I have attached the chapters so please see the attached files to answer the following questions specifically. Ch 4 (p 176 of text or p 34 of...

Q:

useExcel 10 Column Worksheet For Accounting to do the question 1 in the attach. (Excel Formulas Detailed required) LEAN TO CONSTRUCTION CO TRIAL BALANCE 2/28/2006 TRIAL BALANCE ADJUSTMENTS 12/31/06...

Q:

Analysis of Given Ratios Robbins Company is a wholesale distributor of professional equipment and supplies. The company?s sales have averaged about $900,000 annually for the 3-year period 2009?2011....

Q:

Sides 20cux2o cm. it is filled withice at2oo degrees 3. A steel box stee\in theshape 7 a Cube has Sides 2ocmx2ocm.it is filled withice at 200 Celsius, but left outside on a hot day CT: 8s deglees Fah...

Q:

3. Identify and prepare adjusting entries.

Q:

Given that project teams are made up of people with varying ways of absorbing information, what is the value of the team communicating in different ways? If you were in charge, how would you suggest...