a Prepare general journals for the following balance day adjustments at 30 June 2022: insurance prepaid

Question:

a Prepare general journals for the following balance day adjustments at 30 June 2022:

• insurance prepaid $750

• wages accrued $600

• interest receivable $350

• rent received in advance $495 ($450 + $45 GST).

b From the previous adjustments prepare an extract balance sheet.

c Prepare reversal journals on 1 July 2022.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

See More Books

Question Posted: Feb 23, 2024 03:01 PM

See More Questions

Prepare general journal entries to record the following balance day adjustments at 30 June 2022 and indicate the effect on profit from each journal. a Prepaid advertising is $852. b Unpaid salaries...
From the pre-adjustment account listing of Ann Gourie, shown in figure 11.20, and the relevant balance day adjustments, prepare an 8-column worksheet for the year ended 31 March 2022. The following...
The general ledger account balances of B Plowman for 30 June 2022 are shown in figure 11.24, together with a list of balance day adjustments. You are required to prepare an 8-column worksheet....
Find the minimum value of the function: f(x) = x^4 - 6x^2 + 9 on the interval [-2,2].
Perform each indicated operation. 1. 3 qt 1 c - 1 c 4 fl oz
In 75-100 words, describe the circumstances in which you, a CPA, properly may recommend a tax return position say, a certain kind of deduction to a client despite that the very same position had been...
How might your Daily Spending Diary information help you avoid credit problems?
This problem continues the Draper Consulting, Inc., situation from Problem 13-37 of Chapter 13. Refer to the comparative balance sheet for Draper Consulting. Requirement 1. Prepare the statement of...
MACRS Table Complete the following table
An extract of account balances for Enid Fisher as at 30 June 2022 showed accounts receivable $22 803, rent received $3016, interest received $1042, salaries $14 624, insurance $6573, rent $7060, bad...
On 1 July 2021 L Bathurst had entered a 24-month contract with her tenant for rent of premises for $23 100 ($21 000 + $2100 GST) per annum to be paid monthly in advance. At the end of the financial...
There is no known meson with charge quantum number q = +1 and strangeness S = -1 or with q = -1 and S = +1. Explain why in terms of the quark model.
POTI ENTERPRISES LTD. STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31 (current year) SALES $600,000 COST OF SALES: $50,000 OPENING INVENTORY 250,000 PURCHASES 300,000 CLOSING INVENTORY 60,000...
10. Describe a qualified defined contribution plan for the self-employed and discuss the advantages and disadvantages in adopting this type of plan. 11. Describe a SEP IRA and discuss the advantages...
7.) In 1999, the average percentage of women who received prenatal care per country is 80.1%. Table #7.3.9 contains the percentage of woman receiving prenatal care in 2009 for a sample of countries...
Describe A demographic profile of the population and community that will be served through the reinvented Human Service program. The description must include all eligibility requirements (i.e.,...
You work for a major financial institution. Your branch handles customer calls from a wide variety of individuals. Recently, you've noticed an increase in calls from individuals from African...
Introducing a new product requires an immediate investment in plant facilities of $180 000 with a disposal value of $45 000 after seven years. The facilities will require additional capital outlays...
We all experience emotions, but some people disguise their true feelings better than others. Do you think this is a helpful or harmful thing to do? Under what conditions do you think it would be most...
Refer to the discussion at the beginning of the chapter regarding the ABC Shop closures. Discuss how budgeting techniques were used by the ABCs financial accountant to assist in making the decision...
Ron Howard is the operational manager for Tours R Us. Rons bonus is dependent upon the reduction of his departments operating expense budget by 10 per cent in the coming year. One initiative he has...
Alette Renn is the newly appointed chief accountant at Aerospace Data Components (ADC), which designs and manufactures data components for the aerospace and car industries. One of Alettes early tasks...
you are analyzing the cost of debt for a firm. Do you know that the firms 14 year maturity, 7.8 Percent coupon bonds are selling at a price of $834. The Barnes pay interest semi annually. If these...
***Please answer the following using excel and showcasing the formulas/calculations used*** thank you so much Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year...
2. In an account Anh Paglinawan currently has $216,670.00. At a rate of 8.00% how long will it take for them to have $298,390.00 assuming semi-annually compounding? (Hint: compute the exact years, do...

a Prepare general journals for the following balance day adjustments at 30 June 2022: insurance prepaid

Question:

Step by Step Answer:

Balance Day Adjustments and Reversals June 30 July 1 2022 a Balance Day Adjustments June 30 2022 1 I...View the full answer

Accounting An Introduction To Principles And Practice

Students also viewed these Business questions