Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

!! Can someone show hot to do d and e in quickbooks or at least share the steps , if you can do all please

!! Can someone show hot to do d and e in quickbooks or at least share the steps , if you can do all please doimage text in transcribed

5. Use the information below to prepare adjusting journal entries. Record each adjusting journal entry separately, and use June 30,2023 , for the date. a. The prepaid insurance represents a one-year policy. Record insurance expense for one month. Refer to the trial balance to determine the amount in the Prepaid Insurance account. For Journal no., use AJEl. b. The prepaid advertising represents a six-month contract. Record the advertising expense for one month. c. Monthly depreciation on the assets: $75 for Computer, $50 for Furniture, and $100 for Software. Record each depreciation expense as a separate adjusting journal entry. d. The computer supplies on hand total $350. Compare with the amount in the Computer Supplies account to determine how much of the account has been used and then record the expense. e. The office supplies on hand total $325. Compare with the amount in the Office Supplies account to determine how much of the account has been used and then record the expense. f. The interest on the note payable for one month is $25. Record the interest expense. Add to the Chart of Accounts List the Interest Payable account, Other Current Liabilities type and detail type, number 2030. 5. Use the information below to prepare adjusting journal entries. Record each adjusting journal entry separately, and use June 30,2023 , for the date. a. The prepaid insurance represents a one-year policy. Record insurance expense for one month. Refer to the trial balance to determine the amount in the Prepaid Insurance account. For Journal no., use AJEl. b. The prepaid advertising represents a six-month contract. Record the advertising expense for one month. c. Monthly depreciation on the assets: $75 for Computer, $50 for Furniture, and $100 for Software. Record each depreciation expense as a separate adjusting journal entry. d. The computer supplies on hand total $350. Compare with the amount in the Computer Supplies account to determine how much of the account has been used and then record the expense. e. The office supplies on hand total $325. Compare with the amount in the Office Supplies account to determine how much of the account has been used and then record the expense. f. The interest on the note payable for one month is $25. Record the interest expense. Add to the Chart of Accounts List the Interest Payable account, Other Current Liabilities type and detail type, number 2030

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

Nuclear Auditing Handbook A Guide For Quality Systems Practitioners

Authors: Charles Moseley, Norman Moreau, Karen Douglas

1st Edition

1636940072, 978-1636940076

More Books

Students also viewed these Accounting questions