Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Additional information: 1) For the Note Payable, interest is paid on the first day of 'September for the previous 12 month's interest. The interest rate

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Additional information: 1) For the Note Payable, interest is paid on the first day of 'September for the previous 12 month's interest. The interest rate is: 3% 2) On December 31,2023 , the percentage of unearned revenue now earned is r90% 3) A physical count of supplies at December 31,2023 amounts to: "s 1,352 4) The building's estimated useful life is 46 years. 5) The equipment's estimated useful life is 7 vears 6) Service revenue earned but not recorded at December 31, 2023, was 7) Salaries earned but unpaid at December 31, 2023 amount to a total of 8) In the next fiscal year, the principal portion of the note payable due is 9) The 12-month insurance policy was purchased on the 1st June \begin{tabular}{rr} r$ & 10,200 \\ r$ & 4,400 \\ r$ & 45,000 \\ 2,640 \end{tabular} Note: Long flved assets (land, building and equipment) were purchased prior to 2023 Tecord aff oppropriote adjusting entries using the General Journal formot provided below. iefect the most appropriate account aame from the drop down fist in eoch spoce and enter the transaction amount using formulas in the OR and CR spoces. hound amounts to the nearest dollow. f your answer reswlts in cents, use the round function with the following symiax wround f formula, of Statement of Owner's fowity for the year ended Derember 12 , zopz. Be nure to ase proper Bitles, formathing, cell referencing and formules. Manks are owonded for these ithem. Recond all appropriate closing entries using the Generol Journal formot povided below. Pant Reatine enuies Merke None but this wal assist vou is completing the neat pant Part F Fent Closing Trial Balane Marks Prepare the company's post-closing trial balance. Be sure to use proper titles and farmatting. If your post closing trial bolonce is not pout in onder, no morks will be owanded

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

Accounting For Inventory

Authors: Steven M. Bragg

3rd Edition

1642210145, 9781642210149

More Books

Students also viewed these Accounting questions

Question

Determine miller indices of plane A Z a/2 X a/2 a/2 Y

Answered: 1 week ago

Question

=+5. How they might use the product (usage effect).

Answered: 1 week ago