Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I was doing HW and got this question totally wrong; I'm not sure what I did wrong. Here's the question. December 1st Pre-Paid a 24-month

I was doing HW and got this question totally wrong; I'm not sure what I did wrong. Here's the question.

December 1st Pre-Paid a 24-month insurance policy that starts immediately for 6000 cash

December 7th: Purchased supplies for 5,000 cash

December 13th: Agreed to do 25,000 worth of work for Telo over the next 30 days. Payment is to be received when work is complete on Jan 12th

December 24th, I received 10,000 in cash in advance to perform work for ABX over the next four weeks.

December 31st year ends

January 5th: Paid wages of 2,000 cash to workers

January 12th: Received 25000 cash from Telo for work performed over the past 30 days.

Addition info as of December 31st

Work for Telo is 60% complete

Work for ABX is 25% complete

Supplies remaining at the end of the year are $1750

Wages earned by workers but not yet paid is $1250

image text in transcribed 2. For Roland Company in Industry H, enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, and unearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts. Important! Be sure to click the correct Industry at the top of the dashboard

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

Auditing And Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

5th Edition

007333720X, 9780073337203

More Books

Students also viewed these Accounting questions