Solution-Journalize the adjusting entries and label them as

Journalize the adjusting entries and label them as accruals

Assignment Help Finance Basics

Reference no: EM13574152

Journalize the adjusting entries and label them as accruals or deferrals, adding accounts as needed.

a. Unexpired insurance at December 31	$1,500
b. Supplies on hand at December 31	$400
c. Depreciation of building for the year	$1,750
d. Depreciation of equipment for the year	$5,800
e. Revenue unearned at December 31	$2,000
f. Accrued salaries and wages at December 31	$2,300
g. Fees earned but unbilled on December 31	$4,850

Forever Green Lawn Care, Inc. Trial Balance December 31, 20--
Cash	8,700
Accounts Receivable	20,600
Prepaid Insurance	4,400
Supplies	1,950
Land	45,000
Building	134,500
Accumulated Depreciation-Bldg		86,700
Equipment	80,100
Accumulated Depreciation-Equip.		61,300
Accounts Payable		7,500
Unearned Revenue		6,000
Capital Stock		15,300
Retained Earnings		54,000
Dividends	8,000
Fees Earned		199,400
Salaries and Wages Expense	70,200
Utilities Expense	23,200
Advertising Expense	18,000
Repairs Expense	11,500
Miscellaneous Expense	4,050
Totals	430,200	430,200

Reference no: EM13574152

Questions Cloud

What is the cost-benefit outcomes of section 404 of the : what is the cost-benefit outcomes of section 404 of the sarbanes-oxley act? what types of society wide benefits are

Better days ahead a charitable organization has a standing : better days ahead a charitable organization has a standing agreement with first national bank. the agreement allows

Capital leases and operating leases are two major : capital leases and operating leases are two major classifications of leases.requireda. describe how a lessee accounts

The following data are available for quarter company : the following data are available for quarter company. increase in accounts payable 120000 increase in bonds payable

Journalize the adjusting entries and label them as accruals : journalize the adjusting entries and label them as accruals or deferrals adding accounts as needed.a. unexpired

Calculate the diameter of a medium carbon steel pin in : calculate the diameter of a medium carbon steel pin in double shear subjected to a suddenly applied shearing force of

Under what circumstances is a contingent liability : what is a contingent liability? give an example of a contingent liability that is usually recorded in the

Nearly all companies confront loss contingencies of various : nearly all companies confront loss contingencies of various forms.requireda. describe what conditions must be met for a

Determine the total cost allocation and departmental : torrence company has two support departments administration and janitorial and three producing departments fabricating

User Account

All Pages

Journalize the adjusting entries and label them as accruals

Reference no: EM13574152

Reference no: EM13574152

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT