Question: Please complete the following problems for this week's assignment on an excel sheet BC company has the following beginning balances listed on its trial balance
Please complete the following problems for this week's assignment on an excel sheet
BC company has the following beginning balances listed on its trial balance at the end of May 20xx.
- Accumulated depreciation $12,500
- Prepaid insurance $0
- Unearned revenue $2500
The accountant calculated the following transactions as part of the adjusting process:
- Accumulated depreciation should contain a balance of $15,000 after adjustment.
- JBC prepaid its 12-month liability insurance on May 1 in the amount of $18,000.
- JBC's largest customer sent JBC a check for $84,000 as a down payment on services to be rendered over the next few months.The check was received on May 31st, and as of May 31, 2019 JBC has done no work on the project.
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