Question 12 (3 points) ACME Corporation's unadjusted balance in its Supplies account was $3,200. A count...
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Question 12 (3 points) ACME Corporation's unadjusted balance in its Supplies account was $3,200. A count of the supplies on January 31 revealed a balance remaining balance of $650. REQUIRED: a. Calculate the amount of supplies used. b. Prepare the adjusting journal entry required at January 31. Question 13 (3 points) On June 1, 2022, ACME Corporation purchased an office building for $2,226,000. The company uses straight-line depreciation and estimates that the building will have a 25-year useful life. The company has a December 31 year-end and adjusts its accounts annually. REQUIRED: a. Calculate the amount of depreciation for 2022 for the building. b. Prepare the adjusting journal entry required at December 31. Question 22 (3 points) On November 20, ACME Corporation received $8,000 cash in advance from various customers for services starting December 1. At December 31, $2,700 of those services had not yet been provided. ACME Corporation has a December 31 year-end and adjusted its accounts annually. REQUIRED: a. Calculate the amount of service revenue earned as of December 31. b. Prepare the adjusting journal entry required at December 31. Question 12 (3 points) ACME Corporation's unadjusted balance in its Supplies account was $3,200. A count of the supplies on January 31 revealed a balance remaining balance of $650. REQUIRED: a. Calculate the amount of supplies used. b. Prepare the adjusting journal entry required at January 31. Question 13 (3 points) On June 1, 2022, ACME Corporation purchased an office building for $2,226,000. The company uses straight-line depreciation and estimates that the building will have a 25-year useful life. The company has a December 31 year-end and adjusts its accounts annually. REQUIRED: a. Calculate the amount of depreciation for 2022 for the building. b. Prepare the adjusting journal entry required at December 31. Question 22 (3 points) On November 20, ACME Corporation received $8,000 cash in advance from various customers for services starting December 1. At December 31, $2,700 of those services had not yet been provided. ACME Corporation has a December 31 year-end and adjusted its accounts annually. REQUIRED: a. Calculate the amount of service revenue earned as of December 31. b. Prepare the adjusting journal entry required at December 31.
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