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Hi i need the complete answers of all requierments E (Click the icon to view the independent cases.) Cases Irp. Include an explanation for each
Hi i need the complete answers of all requierments
E (Click the icon to view the independent cases.) Cases Irp. Include an explanation for each entry. (Record debits first, Requirement 1. Journalize the adjusting entry needed on Dece then credits. Enter explanations on the last line.) ht of an annual insurance premium. At December 31, 2017, a. Details of the Prepaid Insurance account reveal a January 1 $875 is still prepaid. Record the insurance expense for the year ended December 3 Mar Journal Entry Date Accounts and Explanation December 31 a. Details of Prepaid Insurance are shown in the account: Prepaid Insurance Jan 1 Bal. 1,100 31 3,500 Jackson prepays insurance on March 31 each year. At December 31, $875 is still prepaid. b. Jackson pays employees each Friday. The amount of the weekly payroll is $6,000 for a five-day work week. The current accounting period ends on Thursday. c. Jackson has a note receivable. During the current year, the company has earned accrued interest revenue of $540 that it will receive next year. d. The beginning balance of Supplies was $3,200. During the year, Jackson purchased supplies costing $6,500, and at December 31 supplies on hand is $1,700. e. Jackson is providing financial services for Manatawabi Investments Inc., and the owner of Manatawabi paid Jackson $10,800 as the annual service fee. Jackson recorded this amount as Unearned Service Revenue. Jackson estimates that it has earned one-third of the total fee during the current year. f. Depreciation for the current year includes Office Furniture, $990 and Equipment, $2,720. Make a compound entry. (For your convenience, the descriptions of the transactions shown in this pop-up have been fully integrated into the directions for each journal entry so you may now close the pop-up while solving this problem.) Print Done Choose from any list or enter any number in the input fields ? parts remaining Clear All Check Answer P3-42A (similar to) Question Help Journalize the adjusting entry needed on December 31, 2017, the end of the current accounting period, for each of the independent cases affecting Jackson Corp. Include an explanation for each entry. (Click the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, 2017, end of the current accounting period, for each of the following independent cases affecting Jackson Corp. Include an explanation for each entry. (Record debits first, then credits. Enter explanations on the last line.) a. Details of the Prepaid Insurance account reveal a January 1 (beginning of the year) debit balance of $1,100 and a debit to the account on March 31 for $3,500 to record the payment of an annual insurance premium. At December 31, 2017, $875 is still prepaid. Record the insurance expense for the year ended December 31, 2017 Journal Entry Date Accounts and Explanation Debit Credit December 31Step by Step Solution
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