User Account

All Pages

Recording adjusting entries in general journal format

Assignment Help Accounting Basics
Reference no: EM13914580

Recording adjusting entries in general journal format.

Required

Each of the following independent events requires a year-end adjusting entry. Record each event and the related adjusting entry in general journal format. The first event is recorded as an example. Assume a December 31 closing date.

 

1673_264-B-A-D-E-F (79).png

a. Paid $8,400 cash in advance on October 1 for a one-year lease on office space.

b. Purchased $1,600 of supplies on account on June 15. At year end, $200 of supplies remained on hand.

c. Received a $4,800 cash advance on September 1 for a contract to provide services for one year beginning immediately..

d. Paid $4,800 cash in advance on May 1 for a one-year insurance policy. 

Reference no: EM13914580

Questions Cloud

Interest on it in repayments : I need help filling out the rest, I also tried putting 15,000 and 6% interest on it in repayments for Q2 but it shows it's wrong
How might you use probability theory in everyday living : How might you use probability theory in everyday living?
Describe and evaluate companys pricing and retail strategy : Describe and evaluate a company’s pricing and retail strategy. Include analysis of the current market situation and the competitive strategy. Make sure to choose a company that you are familiar with and one that you have not used for other modules in..
Why changing dividend policy will impact firm value : It can be argued that a firm’s dividend policy is irrelevant but that changes to dividend policy are relevant. Explain this argument by discussing what factors a firm should consider in setting its dividend policy and why changing dividend policy wil..
Recording adjusting entries in general journal format : Each of the following independent events requires a year-end adjusting entry. Record each event and the related adjusting entry in general journal format. The first event is recorded as an example. Assume a December 31 closing date.
What is correlation and its types : What is correlation? What are the different types of correlation? Why is it important to determine correlation?
Determine the cost to be assigned to each component : Pattia Company purchased property with a warehouse and parking lot for $1,500,000. Determine the cost to be assigned to each component.
How are the company''s assets classified? : How are the company's assets classified?
Improve internal controls over the assets that you own? : improve internal controls over the assets that you own?

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