Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Asap please Question 1 6 Points Utilize the Chart of Accounts listed below to answer questions A, B, and Green has the following accounts in

Asap please image text in transcribed
image text in transcribed
image text in transcribed
Question 1 6 Points Utilize the Chart of Accounts listed below to answer questions A, B, and Green has the following accounts in its General Ledger Cash Accounts Payable Retained Earnings Supplies Wages Payable Service Revenue Inventory Unearned Service Revenue Supplies Expense Prepaid Maintenance Unearned Maintenance Revenue Maintenance Expense Equipment Notes Payable Wages Expense Accumulated Depreciation Common Stock Depreciation Expense I A on March 1, 2017 Green Company purchased $12.500 of office supplies. On that date Green recorded the supplies purchase transaction as follows Dc CG Supplies 12.500 Cash 12.500 The entry above is the only entry Green has made related to this item. The balance was zero in the Supplies account prior to the above entry On March 31, 2017 Green counted the office supplies and determined there were $9,300 remaining In the General Journal below record the required March 31, 2017 adjusting journal entry. Use the editor to format your answer Question 2 6 Points B. Green's employees are paid in cash each Friday for that week's work and the payment of the payroll is recorded in the accounting system. The last payday of March was on Friday March 26. The employees worked on Monday March 29th, Tuesday March 30th, and Wednesday March 315. The employees earned a total of $1.200 for these last three days of March. in the General Journal below record the required March 31 adjusting journal entry, Use the editor to format your onswer . 2859900/overwattempt 87786751cold 4108T 1 Question 3 con March 1, 2017 Green Company purchased a new piece of equipment for S210,000 cash On March 1 Green recorded the equipment purchase with a Debit to the Equipment account and a Credit to the Cash account. Green estimates that the equipment will last 7 years. Green also estimates that at the end of 7 years the equipment will have no future value and will be scrapped Green uses the straight line depreciation method In the General Journal below record the required March 31, 2017 adjusting journal entry for Marchis depreciation of the equipment 6 Points te the editor to formot your one Question 4 The follow

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 Non Accounting Students

Authors: John Dyson, Ellie Franklin

10th Edition

1292286938, 9781292286938

More Books

Students also viewed these Accounting questions

Question

Present main arguments for and against the computer metaphor.

Answered: 1 week ago