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For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template. a. Unrecorded depreciation on equipment is $1,800.
For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template. a. Unrecorded depreciation on equipment is $1,800. b. The Supplies account has a balance of $6,000. Supplies on hand at the end of the period total $2,000. c. On the date for preparing financial statements, an estimated utilities expense of $800 has been incurred, but utility bill has been received. no d. On the first day of the current month, rent for four months was paid and recorded as a $5,600 increase to Prepaid Rent and a $5,600 decrease to Cash. Monthly statements are now being prepared. e. Nine months ago, Macke Insurance Company sold a one-year policy to a customer and recorded the receipt of the premium by increasing Cash and Unearned Premium Revenue for $1,248. No adjusting entries have been prepared during the nine-month period. Annual financial statements are now being prepared. f. At the end of the accounting period, employee wages of $1,200 have been incurred but not paid. g. At the end of the accounting period, $1,000 of interest has been earned but not yet received on notes receivable that are held. Note: Use negative signs with answers, when appropriate. 2 Transaction Assets Balance Sheet Liabilities Income Statement + Stockholders' Equity Revenues Expenses =Net Income a. To record depreciation. 0 0 0 0 0 0 b. To record supplies, 0 0 0 0 0 0 c. To record utilities. 0 0 0 0 0 0 d. To record rent. 0 0 0 0 0 0 e. To record revenue. O 0 0 0 1. To record wages. 0 0 0 0 g. To record interest. 0 0 0 0 000 0 0 0 Check a
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