Prepare journal entries for each of the events above

Assignment Help Accounting Basics

Reference no: EM132218620

Question - Rollins Company accumulates the following adjustment data at December 31.

(a) Service Revenue earned but unbilled totals $600.

(b) Store supplies of $300 are on hand. Supplies account shows $1,900 balance.

(d) Service revenue of $490 collected in advance has been earned.

(e) Salaries of $800 are unpaid.

(f) Prepaid insurance totaling $400 has expired.

Instructions -

(a) Prepare journal entries for each of the events above.

(b) Indicate the type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).

Reference no: EM132218620

Questions Cloud

Who are your top two global competitors in the market : You talk with Mike and Tiffany at lunch. "You've done some great research and brought up some good ideas to implement in the presentation.

Write an essay about selected individuals leadership style : Write an essay detailing a selected individual's leadership style and approaches in relationship to his or her communication.

Describe whether the team is ongoing or ad hoc : Is the group a short-term group that will only exist for 1-12 months or is the group a long-standing group that has or will exist for more than one year?

What is known about the topic based on the evidence : For this assignment you will apply the first step of the scientific method by identifying a topic and explaining its importance in the field of psychology.

Prepare journal entries for each of the events above : Store supplies of $300 are on hand. Supplies account shows $1,900 balance. Prepare journal entries for each of the events above

What types of businesses would prosper in china : What types of businesses would prosper in China? Why? What are the challenges and risks associated with doing business in China?

Record the preceding events in a horizontal statements model : Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example

What is being optimized in each of your examples : Explain the importance of correctly stating the objective function and constraints in linear optimization problems.

How would you go about recruiting for the position : Composing an effective and descriptive job announcement/advertisement is vital. The information included in the job announcement and the method of advertisement

User Account

All Pages