Exercise 12.4 (Algo) Preparing adjustments for accrued and prepald expense items. LO 12-2 a. On December 31, 20X1, the Notes Payable account at Northwood Manufacturing Company had a balance of $14,500. This balance represented a three-month, 9 percent note issued on November 1 . b. On January 2, 20X1. Hitech Computer Consultants purchased flash drives, paper, and other supplies for $5,960 in cash. On December 31,20X, an inventory of supplies showed that items costing $1,520 were on hand. The Supplles account has a balance of $5,960 c. On October 1. 20X1. North Dakota Manufacturing paid a premium of $12.360 in cash for a one-year insurance policy. On December 31, 20X1, the Prepald insurence account has a balance of $12,360. d. On June 1, 20X1, Headcase Beauty Salon signed a one-year advertising contract with a local radio station and issued a check for \$13.080 to pay the total amount owed. On December 31, 20X1, the Prepold Advertising account has a balance of $13,080. For each of the above independent situations, prepare the adjusting entries that must be made on the December 31, 20X1, worksheet assuming no previous adjusting entries have been made during the year. (Round your answers to 2 decimal places.) Journal entry worksheet $13,080 to pay the total amourt owed. On December 31, 20xt, the Prepald Advertimin For each of the above independent situations, prepare the adfusting entries that must be assuming no previous adjusting entries have been made during the yeat (Round your an: Journal entry worksheet 4 Record an adjusting entry for suppleis used. Noter Erter detith bifore oredra. $13,080 to pay the total amount owed. On December 31, 20x1, the Prepald Adverti reach of the above independent situabions, prepere the adjusting entries that must ssuming no previous adjusting entries have been made during the year, (Aound your Journal entry worksheet Record an adjusting entry for insurance expited. Noteit tater debits before ureate $13,080 to pay the total amount owed, On December 31, 20x1, the Prepald Adven for each of the above independerit situations, prepare the adjusting entries that must Issuming no previous adjusting entries have been made during the year (Round you Journal entry worksheet (1) 23 Fecord an adjusting entry for advertising expired. Moter Enter detults before crests. Exercise 12.4 (Algo) Preparing adjustments for accrued and prepald expense items. LO 12-2 a. On December 31, 20X1, the Notes Payable account at Northwood Manufacturing Company had a balance of $14,500. This balance represented a three-month, 9 percent note issued on November 1 . b. On January 2, 20X1. Hitech Computer Consultants purchased flash drives, paper, and other supplies for $5,960 in cash. On December 31,20X, an inventory of supplies showed that items costing $1,520 were on hand. The Supplles account has a balance of $5,960 c. On October 1. 20X1. North Dakota Manufacturing paid a premium of $12.360 in cash for a one-year insurance policy. On December 31, 20X1, the Prepald insurence account has a balance of $12,360. d. On June 1, 20X1, Headcase Beauty Salon signed a one-year advertising contract with a local radio station and issued a check for \$13.080 to pay the total amount owed. On December 31, 20X1, the Prepold Advertising account has a balance of $13,080. For each of the above independent situations, prepare the adjusting entries that must be made on the December 31, 20X1, worksheet assuming no previous adjusting entries have been made during the year. (Round your answers to 2 decimal places.) Journal entry worksheet $13,080 to pay the total amourt owed. On December 31, 20xt, the Prepald Advertimin For each of the above independent situations, prepare the adfusting entries that must be assuming no previous adjusting entries have been made during the yeat (Round your an: Journal entry worksheet 4 Record an adjusting entry for suppleis used. Noter Erter detith bifore oredra. $13,080 to pay the total amount owed. On December 31, 20x1, the Prepald Adverti reach of the above independent situabions, prepere the adjusting entries that must ssuming no previous adjusting entries have been made during the year, (Aound your Journal entry worksheet Record an adjusting entry for insurance expited. Noteit tater debits before ureate $13,080 to pay the total amount owed, On December 31, 20x1, the Prepald Adven for each of the above independerit situations, prepare the adjusting entries that must Issuming no previous adjusting entries have been made during the year (Round you Journal entry worksheet (1) 23 Fecord an adjusting entry for advertising expired. Moter Enter detults before crests
