What are the accounts impacted by adjusting entries

Assignment Help Accounting Basics
Reference no: EM132675226

Problem a: What are the accounts impacted by these adjusting entries?

1. Wages owing to all casuals on 30 June amounted to $1,620.

2. A physical count showed that only $860 of herbicide supplies and $750 of fuel and oil supplies were still on hand.

3. Four weeks of advertisements had appeared in the local community newspaper up to 30 June.

4. Paving services of $13,500 had been rendered to one of CPL major client on the last week of June but invoice has not been issued.

5. The business had provided landscaping maintenance services to its local shopping centre client for 3 weeks of the first month (assumed to be 4 weeks long).

6. Utilities bills arrived late, totalling to $2,650, have not been paid or recorded.

7. Interest accrued on the bank loan came to $1,200.

Reference no: EM132675226

Questions Cloud

Develop an expert system or decision tree : Develop an expert system or decision tree with B-wise for Gateway.
What benefits does a sound accounting system provide : Donors are less inclined to give to an organization, What benefits does a sound accounting system provide to a not-for-profit organization?
Explain leader of the newly merged group : What are the key issues/challenges/opportunities you face, both short- and long-term?
How is predictive analytics used in healthcare risk : How is Predictive Analytics used in healthcare risk management
What are the accounts impacted by adjusting entries : What are the accounts impacted by adjusting entries? Four weeks of advertisements had appeared in the local community newspaper up to 30 June.
Negative ethical issues about biotechnology : Identify the negative ethical issues involved in biotechnology?
Four philosophies of juvenile correction : Which philosophy is followed most frequently in your state or local juvenile justice system? Do you think this philosophy is effective?
Prepare a message replying back to your boss : You need to prepare a message replying back to your boss. Rephrasing boss message in your own work and use objective, non-emotional language in it
Identify and discuss the essence of the moral case : Identify and discuss the essence of the moral case for why a company should engage in socially responsible actions and environmentally sustainable business prac

Reviews

Write a Review

Accounting Basics Questions & Answers

  What the six washing machines were sold at a total of

What The six washing machines were sold at a total of? What The consignor's net profit from the sale of the consigned goods was?

  What is ramy corporation''s alternative minimum tax liability

What is Ramy Corporation's alternative minimum tax liability, What is Ramy Corporation's alternative minimum tax liability if ACE

  What is the total cash flow of year for the company

The discount rate (interest rate) for the project is 10% and the company's tax rate is 35%. What is the total cash flow of year 5 for the company

  Determine Cultcos direct material quantity variance

Cultco Co. Ltd has set the following direct material standards per unit of product: 2.5 kg @ $2.98 per kg. Determine Cultcos direct material quantity variance

  Firm approached comet with an offer of acquisition

Suppose a larger firm approached Comet with an offer of acquisition. Create a chart outlining the major pros and cons of such an offer.

  Prepare a reconciliation of tyrone bank account

Prepare a reconciliation of Tyrone's bank account as of April 30. Show both a corrected balance per bank and a corrected balance per books

  ACC120 - Accounting Basics Assignment Problem

ACC120 - Accounting Basics Assignment Help and Solution, Seneca College, Canada. Calculate the current ratios and acid-test ratios

  What is the net cash provided by operating activities

Blue Spruce Corp. had the following transactions during 2017: Issued $290000 of par value common stock for cash. What is the net cash provided

  Determine the amount of income

Determine the amount of income that must be recognized in each of the following cases. Ramona is a production supervisor for White Company.

  What are the total balances of deferred tax asset

Revenue received in advance has a balance of $250,000. What are the total balances of deferred tax asset and deferred tax liability for 30 June 2020

  Interpreting operating statement for internal service fund

(Interpreting the operating statement for an Internal Service Fund) Fort Chessie maintains a policy that its Internal Service Funds operate on a break-even.

  How do record the transactions

Interest on the note is due at maturity. Durand Co. has a December 31 fiscal year end and adjusts its accounts annually. How do Record the above transactions

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!

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