Reference no: EM13845924
Problem: The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
|
|
Debit
|
Credit
|
|
Prepaid Insurance
|
$7,200
|
|
|
Supplies
|
2,800
|
|
|
Equipment
|
18,750
|
|
|
Accumulated Depreciation-Equipment
|
|
$8,400
|
|
Notes Payable
|
|
21,000
|
|
Unearned Rent Revenue
|
|
9,900
|
|
Rent Revenue
|
|
61,000
|
|
Interest Expenses
|
0
|
|
|
Salaries and Wages Expenses
|
18,000
|
|
An analysis of the accounts shows the following.
1. The equipment depreciates $300 per month.
2. One-third of the unearned rent revenue was earned during the quarter.
3. Interest totaling $525 is accrued on the notes payable for the quarter.
4. Supplies on hand total $690.
5. Insurance expires at the rate of $400 per month.
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
|
Compute cash-basis net income
: Primo Industries also paid $72,000 for expenses in 2014. Of the amount paid, $30,000 was for expenses incurred on account in 2013. In addition, Primo incurred $42,000 of expenses in 2014, which will not be paid until 2015.
|
|
What is 0.000000512 written in a scientific notation
: What is 0.000000512 written in a scientific notation
|
|
Calculate the rental fee based on the type of video
: The Color option should change the background color of the form; the font changes can change the control of your choice. Set keyboard shortcuts for the menu commands.
|
|
Identify the outcome of the change in terms of success
: Identify the outcome of the change in terms of success, failures, cultural outcomes, and human resource changes. You should support your ideas with at least three references. Your paper should be 3-5 pages long, well-written.
|
|
Prepare the adjusting entries of perez rental agency
: Problem: The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.
|
|
How would you measure efficiency of wheeled coach facility
: How would you measure the "efficiency" of Wheeled Coach Facility Layout?
|
|
What does this sequence of statements print
: What is wrong with the following variable declarations - What does this sequence of statements print
|
|
What are opportunities in creating entrepreneurial venture
: What are some of the opportunities and challenges in creating an entrepreneurial venture in a foreign market?
|
|
Design a production sequence that will meet demand and level
: Design a production sequence that will meet demand and level production of the various models.
|