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How to record this on quickbooks online. You make additional journal entries, dated 3/31, after considering the following: Supplies on hand equal $150. The last
How to record this on quickbooks online. You make additional journal entries, dated 3/31, after considering the following: Supplies on hand equal $150. The last payment to D Pg. 9-44 ce was 3/4. TIP: The annual, simple interest rate on the loan is 5%. Round to two decimals. You purchased a laptop on 3/5 for $1,320. It was placed in service right away. You go ahead and take a full month's depreciation on the computer. Sally thinks it will last 2 years, with no salvage value. TIP: There's no change in the monthly depreciation expense for the assets purchased prior to March 1. You confirm with Sally that all sales to customers have been completed during the month. You look carefully at the profit and loss statement and make sure that all March expenses are properly recorded. (TIP: Include the Prior Period column on your profit and loss report. Compare the March expenses with the February expenses. Are there any of the common operating expenses missing? Do any of the expenses appear unusually high?) You look carefully at the balance sheet paying particular attention to Other Current Assets and Other Current Liabilities. Many of the common month-end adjustments affect accounts in those categories. TIP: Look at the journal entries you made dated February 29th. There will likely be similar entries for March. You make additional journal entries, dated 3/31, after considering the following: - Supplies on hand equal $150. - The last payment to I ce was 3/4. TIP: The annual, simple interest rate on the loan is 5%. Round to two decimals. - You purchased a laptop on 3/5 for $1,320. It was placed in service right away. You go ahead and take a full month's depreciation on the computer. Sally thinks it will last 2 years, with no salvage value. TIP: There's no change in the monthly depreciation expense for the assets purchased prior to March 1. - You confirm with Sally that all sales to customers have been completed during the month. - You look carefully at the profit and loss statement and make sure that all March expenses are properly recorded. (TIP: Include the Prior Period column on your profit and loss report. Compare the March expenses with the February expenses. Are there any of the common operating expenses missing? Do any of the expenses appear unusually high?) - You look carefully at the balance sheet paying particular attention to Other Current Assets and Other Current Liabilities. Many of the common month-end adjustments affect accounts in those categories. TIP: Look at the journal entries you made dated February 29th. There will likely be similar entries for March
How to record this on quickbooks online.
You make additional journal entries, dated 3/31, after considering the following: Supplies on hand equal $150. The last payment to D Pg. 9-44 ce was 3/4. TIP: The annual, simple interest rate on the loan is 5%. Round to two decimals. You purchased a laptop on 3/5 for $1,320. It was placed in service right away. You go ahead and take a full month's depreciation on the computer. Sally thinks it will last 2 years, with no salvage value. TIP: There's no change in the monthly depreciation expense for the assets purchased prior to March 1. You confirm with Sally that all sales to customers have been completed during the month. You look carefully at the profit and loss statement and make sure that all March expenses are properly recorded. (TIP: Include the Prior Period column on your profit and loss report. Compare the March expenses with the February expenses. Are there any of the common operating expenses missing? Do any of the expenses appear unusually high?) You look carefully at the balance sheet paying particular attention to Other Current Assets and Other Current Liabilities. Many of the common month-end adjustments affect accounts in those categories. TIP: Look at the journal entries you made dated February 29th. There will likely be similar entries for March.
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