Adjusting Entries On A GHI Cocos took out = 12120-day $10,000 loan at its bank Identity and analyze the affect of the adjustment of April 20 AVY Accounts How does this entry wlect the accounting equation! If a financial statement to contendeve the bor bank of the effect on a holtteste sur tenter the with Remember of contra account will has the fact older the compending financial statementiam Balance Incertament Stockholders Auste Liabilities Equity Havenues Expenses Adjusting Entries ABC Corn. purchases 24-month fine insurance policy on January 1. for $5.400 Identify and say the affect of the adjustment on January 31 Activity ACCOUNT Sta) How does the entry affect the section anesteerim not afectate and leave the feston fanminties to ana then with sign memberi contracted that were in the financial statement Balance Inc Stockholders Assets Liabilities Equity Ravens Expenses Adjusting Endre DEF Corp. Burchases a car on March 1 to $25.000. The estimated use of the car is four years animated salvage ale o 51.000 Identity and analyse the effect of the statment on March 1 Actie Accounts Statement How does that affect the accounting ustion financial statement tam not attached to try and therefore or afectatement. Les De won the tha min tiene control the afect of death of statement Income Statement Stockholders Avusts Labilities Revenues Expenses Adjusting Entries On April 1, GHI Corp. took out a 12%, 120-day, $10,000 loan at its bank. Identify and analyze the effect of the adjustment on April 30. Activity Operating Accounts Interest Payable Increase, Interest Expense Increase Statement(s) Balance Sheet and Income Statement Feedback Check My Work Correct How does this entry affect the accounting equation? ta financial statement item is not affected, lect"No Entry and leave the amount box and the effect on a financial statement item is negative decrease be sure to enter the newer with a minus Tige. Rememberi fa contra account is increased it will have the effect of decreasing the corresponding financial statement turn. Balance Sheet Income Statement Stockholders Assets Liabilities Equity Revenues Expenses Adjusting Entries ABC Corp. purchases a 24-month fire insurance policy on January 1, for $5,400. Identify and analyze the effect of the adjustment on January 31. Activity Operating Accounts Prepaid Insurance Decrease, Insurance Expense Increase Statement(s) Balance Sheet and Income Statement How does this entry affect the accounting equation? of financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on financial statementem is negative. Le decrease be sure to atthewithin sign. Remember if a contra account is increased. It will have the effect of decreasing the corresponding financial statement item balance sheet Income Statement Stockholders Assets Liabilities Equity Revenues Adjusting Entries DEF Corp. purchases a new car on March 1, for $25,000. The estimated useful life of the car is four years with an estimated salvage value of $1.000. Identify and analyze the effect of the adjustment on March 32 Activity Operating Accounts Accumulated Depreciation-Car Increase, Depreciation Expense-Car Increase v Statement(s) Balance Sheet and Income Statement v How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negativele, a decrease be sure to enter the answer with a min sign. Romerberi contra account is increased, it will have the effect of decreasing the corresponding financial statement item. Balance Sheet Income Statement Stockholders' Assets Liabilities Equity Revenues Expenses
