Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

AME ENGAGEM UOI ZULU ROUTULTU4JI DIEUILLZ English (en) ard / My courses / [MATC 06/2020) ACCTG110-451 / CHAPTER 5. The Accounting Cycle: Adjustments / Chapter

image text in transcribed
AME ENGAGEM UOI ZULU ROUTULTU4JI DIEUILLZ English (en) ard / My courses / [MATC 06/2020) ACCTG110-451 / CHAPTER 5. The Accounting Cycle: Adjustments / Chapter 5 Post-Class Homework 2 ked aut of Take me to the text Mr. Mike Silbernagel operates an advertising business called A Advertising. He had the following adjustments for the month of June 2018 Jun 30 Recognized $1,540 rent expense used for the month. Jun 30 A monthly magazine subscription was prepaid on June 1, 2018 for $432. By June 30, one issue had been received. Jun 30 Computers' depreciation for the month is $700. Jun 30 Salaries for employees accrued by $2,700 by the end of the month. A 30-day contract was started on June 15. The customer will pay $7,640 at the end of the contract in July. Half of the Jun 30 contract was completed by the end of the month. Accrue the revenue earned by the end of June. Prepare the journal entries for the above transactions Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number Date Account Title and Explanation Debit Credit 2018 Jun 30 DOLL

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

Auditing Concepts For A Changing Environment With IDEA Software

Authors: Larry E. Rittenberg, Bradley J. Schwieger

4th Edition

0387321500, 978-0324180237

More Books

Students also viewed these Accounting questions