can someone please help me with all of them

547419 X FAIR The Accounting Cycl X G accounting cycle rea x Nah - takiyualdein 1-prod-fleet01-xythos.s3.eu-central-1.amazonaws.com/5cb82b70c5878/125582?response-cache-control.. icome, Takiyu Al.. W3Schools Online... . war C++ Basic Exercises... -FAIR The Accounting Cyc.. Chapter 3 Adjusting the Accounts BRIEF EXERCISES BE3-1 The ledger of Bacalao Company SLU includes the follow each account may require adjustment. ccounts. Explain why Indicate why adjusting (a) Prepaid Insurance. entries are needed. (b) Depreciation Expense. (LO 3) earned Service Revenue. (d) Interest Payable. BE3-2 Lucci Company SpA accumulates the following adjustment data at December 31. Indicate (a) the type of adjustment (prepaid expense, accrued revenue, and so on), and adjusting entries. Identify the major types of tus of accounts before adjustment (overstated or understated). - Supplies of E100 are on hand. (LO 4, 5, 6) Services performed but not recorded total 6870. 3. Interest of 6200 has accumulated on a note payable. 4. Rent collected in advance totaling 560 has been recognized. BE3-3 Wow Advertising Company's trial balance at December 31 shows Supplies E6,700 Prepare adjusting entry for and Supplies Expense ED. On December 31, there are $1,300 of supplies on hand, Prepare adjusting entry at December 31 and, using T-accounts, enter the balances in the supplies accounts, post the adjusting entry and indicate the adjusted balance in each account. (LO 5) BE3-4 At the end of its first year, the trial balance of Zovde Company OAO shows Equip- ment (32,000 and zero balances in Accumulated Depreciation-Equipment and Deprecia- Prepare adjusting entry for tion Expense. Depreciation for the year is estimated to be E6,000. Prepare the adjusting depreciation. entry for depreciation at December 31, post the adjustments to T-accounts, and indicate (LO 5) ement of financial position p Prepare adjusting entry for prepaid expense. BE3-5 On July 1, 2017, Pizner Co. Lid. pays E13,200 to Orlow In arance Ltd. for a 3-year (LOS) insurance contract. Both companies have fiscal years ending December 31. For Pizner Co. Ltd., journalize and post the entry on July I and the adjusting entry on December 31. Prepare adjusting entry for nearned revenue. BE3-6 Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting entry on December 31 for Orlow Insu ance Lid. Orlow uses the ccounts Unearned Ser- accruals. are adjusting entries for vice Revenue and Service Revenue BE3-7 The bookkeeper for Malboeuf Com SA asks you to prepare the following (LO 6) accrued adjusting entries at December 31, .Interest on notes payable of #320 is accrued. Services performed but not recorded total (1,750, 3. Salaries earned by employees of 6900 have not been recorded. Use the following a que, Accounts Receivable, Interest Expense Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. Analyze accounts in an unadjusted trial balance BE3-8 The trial balance of Tiwari Lid. includes the following statement of financial posi- tion accounts, which may require adjustment. For each account that requires adjustment, (LO 4, 5, 6) indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, a revenue, or accrued expense) and (b) the related account in the adjusting entry. Accounts Receivable Interest Payable Prepaid Insurance mulated Depreciation Equipment Unearned Service Revenue Prepare in income stalem BE3-9 The adjusted trial balance of Kwun Company at December 31, 2017, includes the from an adjusted trial balance, following accounts (in thousands): Share Capital-Ordinary W 15,600, Dividends W6,000, Service Revenue W38,400, Salaries and Wages Expense W16,000, Insurance Expense (LO ?) 2,000. Rent Expense 4,400, Supplies Expense W1.500, and Depreciation Expense w1,300. Prepare an income statement for the year. Prepare a retained earnings statement from BE3-10 Partial adjusted trial balance data fo resented in BE3-9. Pre trial balance. pare a retained earnings statement for the year assuming net income is w 13,200 for the year and Retained Earnings is W7,240 on January 1. (Amounts are in thousands,) (LO 7) BE3-11 Lim Company records all prepayments in income statement accounts. At April Prepare adjusting entries 30, the trial balance shows Supplies Expense Revenue HK$92,000, under alternative treatment of deferrals. and zero balances in related statement of financial position accounts. Prepare the adjust- ing entries at April 30 assu pril 30 assuming (a) HK$11,000 of supplies on hand and (b) HK$20,000 of (LO 8) service revenue should be reported as unearned. O N DELL F8 FO F10 F11 F12fleet01-xythos.$3.eu-central-1.amazonaws.com/5cb82b70c5878/125582?response-cache-control ciyu Al... 3 W3Schools Online.. C++ Basic Exercises.. . /WAR The Accounting Cyc. Identity characteristic "BE3-12 The accompanying chart shows the qu characteristics of useful account- useful information. ing information. Fill in the blanks. Fundamental Qualities Usefulness Enhancing Qualities Relevance (f) (a) (g) (b) (h) (c) Understandability Faithful Representation (d) Neutral BE3-13 Given the characteristics of useful accounting information, complete each of the Identify characteristics of following statements. useful information. a) For information to be . it should have predictive value, confirmatory value, and (LO 9 be material. is the quality of information that gives assurance that the information accu- rately depicts what really happened. means using the same accounting principles and methods from year to year within a company. BE3-14 Here are some qualitative characteristics of useful accounting information: Identify characteristics of 1. Predictive value 3. Verifiable useful information. 2. Neutral 4. Timely (LOS Match each qualitative characteristic to one of the following statements. (a) The quality of information that occurs when independent observers, using the same methods, obtain similar results. (b) Accounting information must be available to its capacity to influence their decisions. (c) Accounting information should help provide accurate expectations about future events. (d) Accounting information cannot be selected. prepared, or presented to favor one set of interested users over another. *BE3-15 Select the response that completes the following correctly. The full dis- Define full disclosure closure principle dictates that: principle. (a) financial statements should disclose (LO 9) (b) financial statements should disclo ly those events that can be measured in currency. (c) financial statements should disclose all events and circumstances that would matter to users of financial statements. d) financial statements should not be relied on unless an auditor has expressed an unqualified opinion on them. O DELL