Answered step by step
Verified Expert Solution
Question
1 Approved Answer
he November 3 0 , 2 0 2 0 , unadjusted trial balance of Clear Choice is found in the Trial balance tab. Clear Choice
he November unadjusted trial balance of Clear Choice is found in the Trial balance tab. Clear Choice had the following transactions and events in December
December Paid $ cash to Northview Mall for Clear Choice share of mall advertising costs.
December Paid $ cash for minor repairs to the companys computer.
December Received $ cash from Aloan Engineering Co for the receivable from November.
December Paid cash to Jeanne Kennedy for six days of work at the rate of $ per day.
December Notified by Aloan Engineering Co that Clear Choice bid of $ on a proposed project has been accepted. Aloan paid a $ cash advance to Clear Choice.
December Purchased $ of computer supplies on credit from Meng Office Products.
December Sent a reminder to Perry Co to pay the fee for services recorded on November
December Completed a project for Kelley Corporation and received $ cash.
December Took the week off for the holidays.
December Received $ cash from Perry Co on its receivable.
December Reimbursed J Kennedy for business automobile mileage miles at $ per mile
December The company paid $ cash in dividends.
The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the companys first three months:
The December inventory count of computer supplies shows $ still available.
Three months have expired since the month insurance premium was paid in advance.
As of December Jeanne Kennedy has not been paid for four days of work at $ per day.
The computer system, acquired on October is expected to have a fouryear life with no salvage value.
The office equipment, acquired on October is expected to have a fiveyear life with no salvage value.
Three of the four months prepaid rent has expired.
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