Question
1) The balance in the Prepaid Rent account before adjustment at the end of the month is $11,400.This represents three months' rent a company paid
1) The balance in the Prepaid Rent account before adjustment at the end of the month is $11,400.This represents three months' rent a company paid on January 1.What is the amount ofthe adjusting entry on January 31? $11,400
2)The Unearned Fees account has a balance of $22,700 before adjustments.At the end of the accounting period, $7,000 of the $22,700 is unearned.What is the amount of the adjusting entry? $7,000
3)The balance in the Supplies account on July 1 was $14,920.Supplies purchased during July were $7,910, and the supplies on hand at July 31 were $5,710.What is the amount of the adjusting entry on July 31?$5,710
4) The net income reported on the income statement is $75,490.However, adjusting entries have not been made yet at the end of the month for supplies expense of $3,320 and accrued wages of $6,570.Net income, as corrected, is$
5)A company's employees are paid $5,600 every Friday. March 31 is a Tuesday. The company prepares monthly financial statements and makes the necessary adjusting entry for wages on Tuesday the 31st. How much cash are the employees paid on Friday, April 3? $ 5,600
6) Based on the information in these two ledger accounts below, what was net income for the month ended December 31, 2013? $
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