Using the data in BE, journalize and post the entry on July 1 and the adjusting entry
Question:
On July 1, 2014, Pizner Co. pays $13,200 to Orlow Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Pizner Co., journalize and post the entry on July 1 and the adjusting entry on December 31.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
July 1 Cash 13200 Unearned Service Revenue ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Pizner Insurance Co. Pizner uses the accounts Unearned Insurance Revenue and Insurance...
-
Using the data in BE3-5, Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue....
-
Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Randle Insurance Co. Randle uses the accounts Unearned Insurance Revenue and Insurance...
-
What does the following code fragment print when \(\mathrm{n}\) is 50 ? Give a high-level description of what the code fragment does when presented with a positive integer n. Stack stack while (n> 0)...
-
We saw that the interest rate played a stabilizing role in the classical system, adjusting so that a shock to one component of demand, a decline in autonomous investment, for example, would not...
-
Which of the following is not a characteristic of 1NF? a. Data is stored in a single tabular arrangement. b. A column may contain only one value. c. Each column contains an atomic value. d. An entity...
-
Explain the role of the Hurst exponent in fractional Brownian motion.
-
Matching Funds and Identifying Characteristics with Fund and Government-wide Financial Reporting Categories. For each fund or government-wide category listed in the left-hand column, choose the...
-
You are thinking about investing $4,635 in your friend's landscaping business. Even though you know the investment is risky and you can't be sure, you expect your investment to be worth $5,639 next...
-
A job order cost sheet for Koskinen SE is shown below. Instructions a. On the basis of the foregoing data, answer the following questions. 1. What was the balance in Work in Process Inventory on...
-
On July 1, 2014, Pizner Co. pays $13,200 to Orlow Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Pizner Co., journalize and post the entry on...
-
The bookkeeper for Easton Company asks you to prepare the following accrued adjusting entries at December 31. 1. Interest on notes payable of $360 is accrued. 2. Services provided but not recorded...
-
Java Food Equipment Company had the following transactions for the month ending February 28, 2014. Javas cash balance on February 1, 2014 was $ 13,750. Prepare the statement of cash flows of Java...
-
1. A saturated sample of soil weighed 138.89g before drying and 112.89 after drying.If the dimensions of the sample were 35mm diameter and 70mm long, calculate: 2. The voids ratio to 3 decimal...
-
Jeff Healy, a junior financial analyst at The Soulless Shoe Company, has been asked to calculate this year's dividend. Jeff has gathered the following data: CAPEX (spending on fixed assets): $8,000...
-
Nicholas is filling out summer job applications, so that he can earn money to buy a car. Of the 8 jobs he's applying for, 5 are construction jobs. If Nicholas randomly picks 4 applications to submit...
-
3. Program Logic: import Stmts: List the classes to be imported so your program can use their code. import Scanner Class Header: What is the name of the class? public class BookSales Class Variables...
-
Opportunity cost for Mary for 1 tray of biscuits = 1 pound of tea Opportunity cost for Zoe for 1 tray of biscuits = 3/2=1.5 pounds of tea Opportunity cost for Bill for 1 tray of biscuits = 1/3 = 0.33...
-
Students at colleges and universities from Los Angeles to New York are demonstrating in support of free education. The website studentmarch.org says: Education should be free. The united States is...
-
If the amplifier indicated by the box input impedance of oo, which of the following statements are true ? has an open loop gain as well as Feedback factor (\beta = 1/ R_1\) The feedback is voltage...
-
Given the matrices in Problems 36-39, perform elementary row operations to obtain zeros above and below the 1 in the third column without changing the entries in the first or second columns. [c] = 10...
-
In a recent year, the stockholders equity section of Aluminum Company of America (Alcoa) showed the following (in alphabetical order): additional paid-in capital $6,101, common stock $925, preferred...
-
The ledger of Mathis Corporation contains the following accounts: Common Stock, Preferred Stock, Treasury StockCommon, Paid-in Capital in Excess of Par ValuePreferred Stock, Paid-in Capital in Excess...
-
Franco Corporation was organized on January 1, 2010. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2...
-
Creating structure in any organization is essential for success. An implementation structure for innovation is no different. In this two-part assignment, you will organizational structure for...
-
What role do regulatory frameworks, industry standards, and international conventions play in promoting integrity and combating corruption, money laundering, and unethical business practices on a...
-
How do leaders uphold ethical integrity in decision-making processes, navigating complex moral dilemmas and balancing competing interests while maintaining transparency and accountability?
Study smarter with the SolutionInn App