Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Check if it is correct please! Used prepaid insurance of $370. The Prepaid Insurance unadjusted balance as of December 31 is $8,500 Adjustment Type: Prepaids
Check if it is correct please!
Used prepaid insurance of $370. The Prepaid Insurance unadjusted balance as of December 31 is $8,500 Adjustment Type: Prepaids (Deferrals) Insurance Expense Prepaid Insurance Dec 31 370 Dec 31 1,500 370 Dec 31 Bal 370 Bal 8.130 Completed services that were paid for six months earlier, 53,660. The Service Revenue unadjusted balance as of December 31 is $7,300. The Unearned Revenue balance as of December 31 is $11,000 Adjustment Type: Accrual Unearned Revenue Service Revenue 7300 Dec 31 Dec 31 3,600 11,000 Dec 31 3,660 Dec 31 10.960 Bal 7,400 Bal Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started