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make adjusting entries a. The insurance payment in transaction #17 was made on September 1 and covers the one-year period ending August 31,2021 . Adjust
make adjusting entries
a. The insurance payment in transaction #17 was made on September 1 and covers the one-year period ending August 31,2021 . Adjust the insurance account to properly reflect the amount of this insurance that has expired. b. During the Independence Day celebration, GG provided 4,431 guests patriotic cake and ice cream for Center City. See the information in transaction #12 to determine the amount of the accrued revenue to be billed to Center City of Amarillo. In addition, you need to recognize the revenue from the $17,500 advance payment. c. The $5,250 rental payment in transaction \#5 covered four months (April through July). Two months have expired. The remaining two months should be recorded as prepaid. d. Received a bill for May electricity totaling $2,450 which should be accrued. e. Two months interest should be accrued based on the note in transaction \#13. Record the liability in accounts payable. f. There were $9,530 of Supplies actually on hand at year end. g. Unpaid wages as of October 31 were $3,200. h. Depreciation of the new blast freezer is $1,400. a. The insurance payment in transaction #17 was made on September 1 and covers the one-year period ending August 31,2021 . Adjust the insurance account to properly reflect the amount of this insurance that has expired. b. During the Independence Day celebration, GG provided 4,431 guests patriotic cake and ice cream for Center City. See the information in transaction #12 to determine the amount of the accrued revenue to be billed to Center City of Amarillo. In addition, you need to recognize the revenue from the $17,500 advance payment. c. The $5,250 rental payment in transaction \#5 covered four months (April through July). Two months have expired. The remaining two months should be recorded as prepaid. d. Received a bill for May electricity totaling $2,450 which should be accrued. e. Two months interest should be accrued based on the note in transaction \#13. Record the liability in accounts payable. f. There were $9,530 of Supplies actually on hand at year end. g. Unpaid wages as of October 31 were $3,200. h. Depreciation of the new blast freezer is $1,400 Step by Step Solution
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