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Hello, Can you check to make sure that the one i already did was correct and can you help me with number 3? the first
Hello, Can you check to make sure that the one i already did was correct and can you help me with number 3?
the first and last picture go together, i just need to check to make sure its right and the 3 pictures in the middle are one question that i need help with
Help Exercise 3-8A Record year-end adjusting entries (LO3-3) Consider the following transactions for Huskies Insurance Company: 1. Equipment costing $39,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,500 per year. 2. On June 30, the company lends its chief financial officer $45,000; principal and interest at 5% are due in one year. 3. On October 1, the company receives $14,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited Required: For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list View journal entry worksheet No 1 Date December 31 Debit Credit General Journal Depreciation Expense Accumulated Depreciation 6,500 6,500 2 December 31 Interest Receivable Interest Revenue 3,500 3,500 December 31 Deferred Revenue Interest Revenue 3,500 3,500 Exercise 3-10A Record year-end adjusting entries (LO3-3) Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $4,350 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. 2. On December 1, 2021, the company pays a local radio station $2,670 for 30 radio ads that were to be aired, 10 per month throughout December January, and February. Prepaid Advertising is debited. 3. Employee salaries for the month of December totaling $7.900 will be paid on January 7, 2022 4. On August 31, 2021, Shocker borrows $69,000 from a local bank. A note is signed with principal and 8% Interest to be paid on August 31, 2022 Required: Record the necessary adjusting entries for Shocker at December 31, 2021. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Record the necessary adjusting entries for Shocker at December 31, 2021. No adjusting entries were made during the year. (If no er is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction llet Journal entry worksheet Step by Step Solution
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