User Account

All Pages

Prepare the adjusting entries for the month of October

Assignment Help Accounting Basics
Reference no: EM133059392

Question - The ledger of ABC company, on October 31, 2021, includes these selected accounts before adjusting entries are prepared.

 

Debit

Credit

Prepaid insurance

16,800

 

Equipment

88,000

 

Accumulated Depreciation-Equipment

 

19,000

Unearned Service Revenue

 

144,800

An analysis of the accounts shows the following.

1. Insurance expires at the rate of SAR 1200 per month.

2. The equipment depreciates SAR 1050 a month.

3. During October, services were performed for one half of the unearned service revenue reported.

Required - Prepare the adjusting entries for the month of October.

Reference no: EM133059392

Questions Cloud

Graphic visual representations of information : Infographics are graphic visual representations of information, knowledge, or data to present information concisely and clearly.
Emergent states have effect on levels of motivation : Identify 1-2 motivational states that your selected theory supports as well as 1-2 motivational states that your theory does not support. Explain why.
How would ARRANGE Co recognize revenue : How would ARRANGE Co. recognize revenue from the initial franchise fee received from COLLOCATE Co.
Performance project capstone : You have learned about importance of innovation within the workplace. The techniques learned this week will play a vital role in growth as you build career
Prepare the adjusting entries for the month of October : During October, services were performed for one half of the unearned service revenue reported. Prepare the adjusting entries for the month of October
List the major pitfalls in creating alliance : What are the various options for establishing an exit strategy? List the major pitfalls in creating an alliance.
Find financial position of the company - future retail ltd : Find the financial position of the company - Future Retail Ltd - find the Ratio Analysis, Turnover Ratio and Profit Margin Ratios
What must the annual cash flow be for this equipment : The cost also is $750,000, but this equipment will produce even cash flows over its 5-year life. What must the annual cash flow be for this equipment
Set priorities and develop preliminary strategy : Now that Barbara has an understanding of the factors that influence clinic performance, it is time to set priorities and develop a preliminary strategy.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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