Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1)P3-6b Just taking it further 2)Just BYP4-1 Question which is marked 3) E5-6Only part C one which is marked 4)E6-15 Only part B marked It's

image text in transcribed

1)P3-6b Just taking it further

image text in transcribed

2)Just BYP4-1 Question which is marked

image text in transcribed

3) E5-6Only part C one which is marked

image text in transcribed

4)E6-15 Only part B marked

It's very Urgent Asap Thanks ??

the following independent items for Thedire Dupuis daring the yrar ended November 30, 2017, may Prepare transaction ad a transaction journal entry, an adjusting entry, or both.The cpnyconds ll prepaid cost as lpe company records all prepaid costs as assets andg entries 18 al unearned revenues as liabilinies and in adjasts accounts annually. ies on hand amounted to $950 on November 30, 201 On lanoary 31, 2017, additional supplies wer ?31, parchsed for s2.380 cash. On November 30, 2017,a physical count showed that supplies or 2. Thtre Dupais puts on 10 plays each season. Season tickets sell for $200 each and 310 were sold in August for the upcoming 2017-3018 sewhich starts in September 2017 and ends in june 2018 (one play per mooth) Jbitre Dupuis crediaed Unearned Revenue for the full amoust received r the theatre is $4.500 every Wednesday for employee salaries earned during the previoust five-day ieeek (Wednesday through Sunday). Salaries were last paid (and recorded) on Wednesday November 29. In 2017. Nowember 30 falls on a Thursday. The next payday is Wednesday. December 6.2017, 4. Theltre Dupuis rents the thewtre to a local seniors choir, which uses the space for reheansals nrice a week at a rate of $425 per month. The new treasurer of the dsoir accidentally sent a cheque for $245 on Nowember 1.The treasurer promised to send a cheque in December for the balance when she returns from her vacation.D December 4, Thatre Dapuis received a cheque for the balance owing from November plus all of Decembers rent. 5 On june 1, 2017,the theatre borrowed s11,000 from La caisse pupulaire Desjardins at an annual interest rate not adjusted to prepare actions for of 4.3%. The principal and interest are to be repaid on February 1, 2018. 6. Upon reviewing the books on November 30, 2017, it was noted that the utility bill for the month of November had not yet been received. A call to Hydro-Qubec determined that the utility bill was for $1,420. The bill was paid an December 10. this date 7. Oened a truck during the year that had originally been purchased on December 1, 2013, for $37,975. The truck's estimated useful life is eight years. ycles has Instructions (a) Prepare the journal entries to record the original transactions for items 1 through s. (b) Prepare the year-end adjusting entries for items 1 throagh 7 (c) Prepare the journal entries to record: I. the payment of wages on Wednesday, December 6 (item 3) 2. the receipt of the cheque from the seniors' choir on December 4 (item 4) 3. the payment of the utility bill on December 10 (iten 6) 4. the payment of the note and interest on February 1.20 Gtem 5), rstated venue TAKING IT FURTHER There are three basic reasons why an unadjusted trial balance may not contain com- plete or up-to-date data. List these reasons and provide examples of each one using items 1 to 7 to illustrate your nd. explanation the following independent items for Thedire Dupuis daring the yrar ended November 30, 2017, may Prepare transaction ad a transaction journal entry, an adjusting entry, or both.The cpnyconds ll prepaid cost as lpe company records all prepaid costs as assets andg entries 18 al unearned revenues as liabilinies and in adjasts accounts annually. ies on hand amounted to $950 on November 30, 201 On lanoary 31, 2017, additional supplies wer ?31, parchsed for s2.380 cash. On November 30, 2017,a physical count showed that supplies or 2. Thtre Dupais puts on 10 plays each season. Season tickets sell for $200 each and 310 were sold in August for the upcoming 2017-3018 sewhich starts in September 2017 and ends in june 2018 (one play per mooth) Jbitre Dupuis crediaed Unearned Revenue for the full amoust received r the theatre is $4.500 every Wednesday for employee salaries earned during the previoust five-day ieeek (Wednesday through Sunday). Salaries were last paid (and recorded) on Wednesday November 29. In 2017. Nowember 30 falls on a Thursday. The next payday is Wednesday. December 6.2017, 4. Theltre Dupuis rents the thewtre to a local seniors choir, which uses the space for reheansals nrice a week at a rate of $425 per month. The new treasurer of the dsoir accidentally sent a cheque for $245 on Nowember 1.The treasurer promised to send a cheque in December for the balance when she returns from her vacation.D December 4, Thatre Dapuis received a cheque for the balance owing from November plus all of Decembers rent. 5 On june 1, 2017,the theatre borrowed s11,000 from La caisse pupulaire Desjardins at an annual interest rate not adjusted to prepare actions for of 4.3%. The principal and interest are to be repaid on February 1, 2018. 6. Upon reviewing the books on November 30, 2017, it was noted that the utility bill for the month of November had not yet been received. A call to Hydro-Qubec determined that the utility bill was for $1,420. The bill was paid an December 10. this date 7. Oened a truck during the year that had originally been purchased on December 1, 2013, for $37,975. The truck's estimated useful life is eight years. ycles has Instructions (a) Prepare the journal entries to record the original transactions for items 1 through s. (b) Prepare the year-end adjusting entries for items 1 throagh 7 (c) Prepare the journal entries to record: I. the payment of wages on Wednesday, December 6 (item 3) 2. the receipt of the cheque from the seniors' choir on December 4 (item 4) 3. the payment of the utility bill on December 10 (iten 6) 4. the payment of the note and interest on February 1.20 Gtem 5), rstated venue TAKING IT FURTHER There are three basic reasons why an unadjusted trial balance may not contain com- plete or up-to-date data. List these reasons and provide examples of each one using items 1 to 7 to illustrate your nd. explanation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Use Of Teams For IT Audits

Authors: Martin Krist

1st Edition

0849398282, 978-0849398285

More Books

Students also viewed these Accounting questions