Insert Design Layout References Malings Review View Table Design Layout Times New Ro.. 11 A-A- obe X B Problem (38) VISA Visa, Inc. describes inelf as follows in its first feecaster global payments technology company that mables mate, secure and reliable electronic payments across more than 200 countries and territories. Vise and in wholly-owned consolidated nuidiaries, operate one of the world's largest electronic payments network-at-which facilitates authorisation clearing and lement of payment transactions and enables the Company to provide in financial institution and seller clients a wide range of products, platforms and value added service. Pisa is not a financial institution and does not is cards extend credit or set rates and fees for account holders of Vina products. In most cases, account holder and merchant relationships belong to, and are managed by, Visa's financial institution" Use the following information to provide the adjusting journal entry that Vina, Inc. should have made at the end des fcel year on Sept. 30, 2028 Assume that Fisa makes adjusting entries once a year on September 30 On October 1, 2019, Visa had $712 million in Supplies, and they purchased $123 million more in Supplies during fiscal 2020. A year-end physical count of Visa's applies indicates that they have $757 million worth of Supplies remaining as of September 30, 2020. If Visa did not make journal entries when they used supplies during fiscal 2020, what adjusting journal entry should Visa make related to its Supplies en September 30, 2020 Supplies Expense Supplies Account Titles ABBBC DAI, ANH AaBbCcD Anten AaBb( ACID Norma No Spacing Heading SAVITH d) On September 1, 2020, Visa sold Visa gift cards fr $6 million through differential and made the following journal entry Dr. Cash Cr. Unearned Revenue milion Visa had no more gift card sales until Sept 30, 2020, and did not make any journal entries related to the uneemed revenue after the initial journal entry shown above. What adjusting journal entry should Visa make on September 30, 2020 related to the uneamed revenue, if $5 million still hasn't been cared Account Titles Unearned Revenue Gift Card Revenue Credi Debit Mill 1 Mai At the end of fiscal 2020, Visa calculates that it has carned but not yet received or reconded $464 million of sales on account. What adjusting joumal entry should Visa make on September 30, 2020 related to the sales on account? Debit Credit Account Titles 18 Mil 78 Mil Accounts Receivable Sales Revenue Debit Credit 464 M 464 Ma On March 1, 2020, Vixx paid $264 million for a one-year insurance policy starting on March 1, 2020 and nusting for 12 consecutive months. On March 1, Visa made the following journal entry Dr. Prepaid Insurance Cr. Cash 264 million 364 million Visa did not make any journal entries related to the prepaid insurance after the initial journal entry shows shove. What adjusting journal entry should Visa make on September 30, 2020 related to prepaid insurance? Account Title Insurance Expense Prepaid Tavurance Debit 154 Mill Credit 154 Mil 0 Visa receives a utility bill every four weeks for the previous four weeks. On October 16, 2020, Visa receives a bill of $2 million covering the last two weeks of fiscal 2020 and the first two weeks of fiscal 2021. Assuming that utilities are used evenly over the period, what adjusting journal entry should Visa make on September 30, 2020 related to this future utility bill? Account Les Prepaid Utility Expense Lelity Expense Debit Credit Mill Visa's property and equipment depreciated $5767 million during fiscal 2020 Depreciation Expense Equipment Account Titles 1322 Words RD English (US) ) At the end of fiscal 2020, Visa owed employees $821 million related to work completed (but not yet paid) during fiscal 2020. What adjusting journal entry should Visa make on September 10, 2020 related to these wages owed to employees? Account Tides Debit Credit Wages Expense 767 Mil Wages Payable 767 Mill This problem continues on the next pag Debit Credit 821 Mill TEM Ste Pa