Accounts Debit Credit Supplies on Hand $2080 Prepaid Rent $2208 Salaries Payable $0 Unearned Subscription Fees...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664c9ec4b95d1_412664c9ec455e86.jpg)
Transcribed Image Text:
Accounts Debit Credit Supplies on Hand $2080 Prepaid Rent $2208 Salaries Payable $0 Unearned Subscription Fees $29000 Subscriptions Revenue $482000 Salaries Expense $173500 $1480 $9340 Supplies Expense Rent Expense a) Prepare the adjusting journal entry necessary to show the inventory supplies on hand at December 31st is $880 Date Dec 31 Description Debit Credit b) Prepare the adjusting journal entry necessary to adjust Prepaid Rent at December 31st if the Prepaid Rent amount in the Partial Unadjusted Trail Balance above represents one years worth of rent that was paid in advance on October 1st Date Dec 31 Description Debit Credit c) Prepare the adjusting journal entry necessary to adjust Unearned Revenue at December 31st if 80% of the amount shown in the Partial Unadjusted Trail Balance has now been earned. Date Dec 31 Description Debit Credit Accounts Debit Credit Supplies on Hand $2080 Prepaid Rent $2208 Salaries Payable $0 Unearned Subscription Fees $29000 Subscriptions Revenue $482000 Salaries Expense $173500 $1480 $9340 Supplies Expense Rent Expense a) Prepare the adjusting journal entry necessary to show the inventory supplies on hand at December 31st is $880 Date Dec 31 Description Debit Credit b) Prepare the adjusting journal entry necessary to adjust Prepaid Rent at December 31st if the Prepaid Rent amount in the Partial Unadjusted Trail Balance above represents one years worth of rent that was paid in advance on October 1st Date Dec 31 Description Debit Credit c) Prepare the adjusting journal entry necessary to adjust Unearned Revenue at December 31st if 80% of the amount shown in the Partial Unadjusted Trail Balance has now been earned. Date Dec 31 Description Debit Credit
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
A trait determined by an X-linked dominant allele shows 100 percent penetrance and is expressed in 36 percent of the females in a population. Assuming that the population is in HardyWeinberg...
-
On January 1, 2013, Lisa Company sold machinery with a book value of $118,000 to Mark Company. Mark signed a $180,000 non-interest-bearing note, payable in three $60,000 annual installments on...
-
How can the authenticity of a party in an e-business transaction be verified?
-
9. How can a supervisor overcome resistance to change?
-
The comparative balance sheet of Sunrise Juice Co. at December 31, 2007 and 2006, is as follows: The noncurrent asset, the noncurrent liability, and the stockholders equity accounts for 2007 are as...
-
On January 1 , 2 0 X 1 , Diaz Corp. acquired all of the outstanding stock of Guled, Inc. for $ 6 , 0 0 0 , 0 0 0 . Guled, Inc. will continue to operate as a separate legal entity with independent...
-
Watershed is a media services company that provides online streaming movie and television content. As a result of the competitive market of streaming service providers, Watershed is interested in...
-
If P (A)=0.74, P(B)=0.24, and P( A or B)= 0.98, are A and B mutually exclusive?
-
Arrow Company processes a food seasoning powder through its Compounding and Packaging departments. In the Compounding Department, direct materials are added at the beginning of the process, and...
-
The 2017 financial statements of LVMH Moet Hennessey Louis Vuitton S.A. are presented in Appendix C at the end of this book. LVMH is a Paris-based holding company and one of the world's largest and...
-
Repeat Problem 10.E1, except design a packed column using 1-in. metal Pall rings. Do the calculations at the top of the column. Approximate HETP for ethanol-water is \(0.366 \mathrm{~m}\). At...
-
We are separating an ethanol-water mixture in a column operating at atmospheric pressure with a total condenser and a partial reboiler. Constant molal overflow (CMO) can be assumed, and reflux is a...
-
Corporate Social Responsibility Problem The Global Reporting Initiative (GRI) is a networkbased organization that has pioneered the development of the world's most widely used sustainability...
-
A large bulk carrier and a large tanker look very similar. How could you identify the difference between the two vessels?
-
You have just begun your summer internship at Omni Instruments. The company supplies sterilized surgical instruments for physicians. To expand sales, Omni is considering paying a commission to its...
-
Describe the criterion for rejecting the null hypothesis when using the p-value method for hypothesis testing. Who chooses the value of the level of significance, ????? Make up a situation (one...
-
Explain in your own words the implications of the regression assumptions for the behavior of the response variable y.
-
Explain what statistics from Table 8.11 indicate to us that there may indeed be a linear relationship between x and y in this example, even though the value for r2 is less than 1%.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App