Prepare adjusting entries for the company

Assignment Help Accounting Basics
Reference no: EM13892823

1.Hawk Company records prepaid assets and unearned revenues in balance sheet accounts. The following information was used to prepare adjusting entries for the company as of August 31, the end of the company's fiscal year.

a. The company has earned $6,000 in service fees that were not yet recorded at period end.
b. The expired portion of prepaid insurance is $3,700.
c. The company has earned $2,900 of its Unearned Service Fees account balance.
d. Depreciation expense for office equipment is $3,300.
e. Employees have earned but have not been paid salaries of $3,400.

Prepare any necessary reversing entries for the accounting adjustments a through e assuming that the company uses reversing entries in its accounting system.

Reference no: EM13892823

Questions Cloud

Write paper that identify leadership strategy and motivation : Write a paper about identifying the leadership strategies and motivation of an identifiable figure on this social issue.
Argument of form versus function : The argument of form versus function seems to come more into play with the more widespread use of credit by consumers which has helped to streamline the purchasing decision.
Did the case require an immediate public health response : Which offices need to respond? How would you coordinate a response and Did the case require an immediate public health response?
Carbon footprint is the amount of greenhouse gas emissions : carbon footprint is the amount of greenhouse gas emissions
Prepare adjusting entries for the company : The following information was used to prepare adjusting entries for the company as of August 31, the end of the company's fiscal year.
Products to satisfy a need as we learned : We as consumers do tend to purchase certain products to satisfy a need as we learned earlier in this course, and through satisfying, those needs we also make decisions about those products purchased based on the way they use the product. The value..
Successful advertising medium-television advertising : Long deemed the most successful advertising medium, television advertising has received increased criticism as being too expensive and as being less effective than it once was.
Do think cases of gastroenteritis represent an outbreak : Do you think these cases of gastroenteritis represent an outbreak at the university? Why or why not?
Explain the hazards of chemical burns other than tissue : Explain the hazards of chemical burns other than tissue damage

Reviews

Write a Review

Accounting Basics Questions & Answers

  Teri frazier owned three businesses and rental properties

teri frazier owned three businesses and rental properties in 2014. during the year her hair salon business experienced

  Method of accounting for uncollectible receivables

If the allowance method of accounting for uncollectible receivables is used, what general ledger account is credited to write off a customer's account as uncollectible?

  What would be the effect on accounts

What would be the effect on accounts if the owner withdrew cash -  Accounts Payable had a normal starting balance of $800. There were debit postings of $600 and credit postings of $300 during the month. The ending balance.

  The assembly department of united products employs workers

the assembly department of united products employs workers to assemble units of product xsd. they are paid three

  The aicpa code are relevant to your decision

What provisions of the AICPA Code are relevant to your decision

  How would you respond on behalf of your client

Your client Crimson Corp. (CC) is being audited by the Department of Revenue for the State of New York for the calendar year 2010. CC had been audited by the Internal Revenue Service (IRS) for 2010 and agreed with CC's tax position that the sale o..

  How has your view of ethics changed

How has your view of ethics changed since you started this course? Now that you have learned the basics of "Ethics in Business", do you see your current company/job in a different way?

  Delicious cake factory normally sells their specialty cake

1- diamond company produces a chair that requires 5 yds. of material per unit. the standard price of one yard of

  June owned all the stock of corporation a

June owned all the stock of Corporation A

  Artificial turf or xeriscape landscaping

Because of chronic water shortage in Santa Fe, new athletic fields must use artificial turf or xeriscape landscaping. If the value of the water saved per month is $6,000, how much can a private developer afford to spend on artifical turf if he wa..

  Why do we compute equivalent units differently for raw

1. performance reports often compare current period performance witha- performance in a prior period.b- planned

  Determine the following list of accounts which of the

examine the following list of accountsnote payableaccumulated depreciation buildingalex kenzy drawingaccounts

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd