Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I asked question but I am still waiting for answer. how can I get the answer? a)For the first 11 months of the year, office

I asked question but I am still waiting for answer. how can I get the answer?

a)For the first 11 months of the year, office rent had been charged to the Rent Expense account at a rate of $1000 per month. On December 1, the company signed a new rental agreement and paid 3 months in advance at a rate of $1,100 per month. The advance payment was debited to the Prepaid rent account. (Hint: December rent went up)

b)Dues and subscription expense for the year is $710

c)The unused supplies on December 31 is $450

d)Interest on bank loan amounted to $100 at the end of the year. NOT yet pay. (Hint: interest payable account)

e)The useful life of the equipment has been estimated at 10 years from date of purchase (straight line depreciation)

f)Consulting service valued at $32,550 were rendered (service was done) during the year for clients who had made payment in advance. (Hint: The advance payment was debit to Unearned revenue account.)

g)At December 31, engineering services $3000 was completed in December but was not bill.

Salaries earned by employees but not yet paid amounted to $2,200 at December 31 (Hint: Salaries Payable

I need help for adjustments income statement and balance sheet for this data trial balance you have already mention in your site i am also showing trial balance

Reed Geophysical Company adjusts and closes its accounts at the end of the calendar year. At December 31, 20-1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-9

Authors: James Heintz

22nd Edition

1305888537, 978-1305666184

More Books

Students also viewed these Accounting questions

Question

Go, do not wait until I come

Answered: 1 week ago

Question

Make eye contact when talking and listening

Answered: 1 week ago

Question

Do not go, wait until I come

Answered: 1 week ago