Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i want the answer for that please Question 6 of 14 begin{tabular}{|c|c|c|} hline begin{tabular}{r} HARMS HAU TRIAL BALA DECEMBER 31 end{tabular} & begin{tabular}{l}

i want the answer for that please
image text in transcribed
image text in transcribed
Question 6 of 14 \begin{tabular}{|c|c|c|} \hline \begin{tabular}{r} HARMS HAU \\ TRIAL BALA \\ DECEMBER 31 \end{tabular} & \begin{tabular}{l} RS \\ CE \\ 2022 \end{tabular} & \\ \hline & Debit & Credit \\ \hline Cash & $39,500 & \\ \hline Accounts Receivable . & 50,600 & \\ \hline Allowance for Doubtful Accounts & & $2,750 \\ \hline Supplies & 2,960 & \\ \hline Prepaid Insurance & 1,100 & \\ \hline Equipment & 27,000 & \\ \hline Accumulated Depreciation-Equipment & & 6,250 \\ \hline Notes Payable & & 7,200 \\ \hline Owner's Capital & & 45,010 \\ \hline Service Revenue & & 102,000 \\ \hline Rent Expense & 9,750 & \\ \hline Salaries and Wages Expense & 30,500 & \\ \hline Utilities Expenses & 1,080 & \\ \hline \multirow[t]{2}{*}{ Office Expense } & 720 & \\ \hline & $163,210 & $163,210 \\ \hline \end{tabular} 1. Fees received in advance from clients $5.000. 2. Services performed for clients that were not recorded by December 31,$4,900. 3. Equipment is being depreciated at 8% per year. 4. Bad debt expense for the year is $1,430. 5. Insurance expired during the year $480. 6. Harms gave the bank a 90 -day, 5% note for $7,200 on December 1,2022. 7. Rent of the building is $750 per month. The rent for all of 2022 , and for January of 2023 has been paid. 8. Office salaries and wages earned but unpaid December 31,2022,$1,510. Harms withdrew $12,000 cash for personal use during the year. (a) From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Use 360 days for calculation.)

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

Step: 3

blur-text-image

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

Financial Accounting And Equity Markets

Authors: Philip Brown

1st Edition

1138617083, 978-1138617087

More Books

Students also viewed these Accounting questions