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Can someone help me fully complete this question, the requirements are below, including the data Part 1 of 10 Stewart Fishing Charters has collected the
Can someone help me fully complete this question, the requirements are below, including the data
Part 1 of 10 Stewart Fishing Charters has collected the following data for the December 31 adjusting entries: (Click the icon to view the data) Read the requirements Requirement 1. Journalize the adjusting entries needed on December 31 for Stewart Fishing Charters. Assume Stewart records adjuster entry table) a. The company received its electric bill on December 20 for $375 but will not pay it until January 5. (Use the Utilities Payable account) Accounts and Explanation Debit Credit (a) Dec 31 Date - X More info a. The company received its electric bill on December 20 for $375 but will not pay it until January 5 (Use the Utilities Payable account) b. Stewart purchased a nine-month boat insurance policy on November 1 for $4.500 Stewart recorded a debit to Prepaid Insurance C. As of December 31, Stewart had earned $3.000 of charter revenue that has not been recorded or received d. Stewart's fishing boat was purchased on January 1 at a cost of $67,500. Stewart expects to use the boat for ten years and that it will have a residual value of 52,500 Determine annual depreciation assuming the straight-line depreciation method is used. e. On October 1 Stewart received $6,000 prepayment for a deep-sea fishing charter to take place in December As of December 31, Stewart has completed the charter Print Done CD 31 adjusting entries 1 for - X all not Requirements 1. Journalize the adjusting entries needed on December 31 for Stewart Fishing Charters. Assume Stewart records adjusting entries only at the end of the year 2. It Stewart had not recorded the adjusting entries indicate which specific Category of accounts on the financial statements would be misstated and if the misstatement is overstated or understated Print Done CODE thing Charters Assume Stewart records adjusting entries only at the end of the year (Record debits first, then credits. Select the explanation on the last line of the joumal January 5 (Use the Utilities Payable account bit Credit . B 8:42 AM 2/27/2022 Read the demam Requirement 1. Journalize the adjusting entries needed on December 31 for Stewart Fishing Charters. Assume Stewart records adjusting entries ordy at the end entry table) a. The company receved its electric bill on December 20 for $375 but will not pay it unto January 5 (Use the Utilities Puyable account) Accounts and Explanation Date Debit Credit (a) Doc 31 a ** $ 4 Step by Step Solution
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