The ledger of sagovic rental agency on march 31 of the

Reference no: EM13601593

The ledger of Sagovic Rental Agency on March 31 of the current year includes the selected accounts on page 206 before adjusting entries have been prepared. Debits Credits. Prepaid Insurance ($3600), Supplies ($3000), Equipment ($25,000), Accumulated Depreciation-Equipment (Credit: $8,400), Notes Payable (Credit: $20,000), Unearned Rent Revenue (Credit: $12,400), Rent Revenue (Credit: $60,000), Interest Expense $0, Salaries and Wages Expense ($14,000).
An analysis of the accounts shows the following.
1. The equipment depreciates $280 per month.
2. Half of the unearned rent revenue was earned during the quarter.
3. Interest of $400 is accrued on the notes payable.
4. Supplies on hand total $850.
5. Insurance expires at the rate of $400 per month.

Prepare the adjusting entries on March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.

Reference no: EM13601593

Questions Cloud

Find the pressure exerted on the floor by each leg the : a 65 kg man in a 5.9 kg chair tilts back so that all his weight is balanced on two legs of the chair. assume that each

The number of pounds of matierials a and b required for : production estimates for august are as followsestimated inventory units august 1 12000desired inventory units august 31

The tackler holds onto the receiver and the two move off : in a football game a receiver is standing still having just caught a pass. before he can move a tackler running at a

Mandy corporation sells a single product budgeted sales for : mandy corporation sells a single product. budgeted sales for the year are anticipated to be 640000 units estimated

The ledger of sagovic rental agency on march 31 of the : the ledger of sagovic rental agency on march 31 of the current year includes the selected accounts on page 206 before

A thin rod is pivoted about its center the rods mass is 50 : question a thin rod is pivoted about its center. the rods mass is 5.0 kg and its moment of inertia is 5.4 kg m2. what

A random variable x is defined by assigning to each outcome : there are two urns a and b. urn a contains 2 red balls and 1 blue ball urn b contains 1 red ball and 1 blue ball. an

The standard costs and actual costs for direct materials : the standard costs and actual costs for direct materials direct labor and factory overhead for the manufacture of 2500

Question a rope can withstand 10 x 103 n of tension if the : question a rope can withstand 1.0 x 103 n of tension. if the rope is being used to pull a 10.0-kg package across a

User Account

All Pages