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Can you make a plot in a table for accounting with this problem. Problem # 8 preparing adjusting entries at year-end On June 30, 2020
Can you make a plot in a table for accounting with this problem. Problem # 8 preparing adjusting entries at year-end On June 30, 2020 the end of fiscal year the following information is available to Noel Hungaria's accountant for making adjusting entries . A. Among the liabilities of the entity is a 2,400,000 mortgage payable. On June 30 the accrued interest in this mortgage Amounted to 120,000 B. Assume that on July 2, a Friday, the entity, which is on a five-day workweek and pays employees weekly. Paid its regular salaried employees 192,000 C. On June 29 the entity completed negotiations and signed a contract to provide services to a new client at an annual rate of 36, 000. D. The supplies account showed a beginning balance of 16,150 and purchases during the year of 37,660. The year-end inventory revealed supplies on hand of 11,860. E. The prepaid insurance account shower the following entries on June 30: Beginning Balance - 15,300 January 1- 29,000 May 1 - 33,660 The beginning balance represents the unexpired portion of a one-year policy purchased in April of the previous year. The January 1 entry represented a new one-year policy and the May 1 entry is the additional coverage of a three-year policy. F. The following table contains the cost and annual depreciation for buildings and equipment, all of which were purchased before the current year: Account : Cost: Annual Depreciation: Building 1,850,000 73,000 Equipment 2,180,000 218,000 G. On June 1 the entity completed negotiations with another client and accepted in advance of 210,000 for service to be performed in the next year. The 210,000 was credited to unearned services revenues. H. The entity calculated that as of June 30 it had. Earned 35,000 on a 75,000 contract that will be completed and billed in August. Required: Prepare the adjusting entries
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