On April 1, 2023, Nicky LLC, sells a two year cloud software subscription to Moose, Inc. for $30,000 cash. Moose pays the entire amount up front. Both Nicky and Moose use accrual accounting. What is the balance in Nicky's Unearned Revenue account as of April 30, 2023? How much revenue will Nicky LLC recognize in 2023? What will Nicky's Unearned Revenue balance be on December 31, 2023? What is the balance in Moose's Prepaid Expense account on May 31, 2023? How much expense will Moose recognize in 2024? What is the balance in Moose's Prepaid Expense account as of February 28, 2025? Answer each of the questions to the best of your ability. If you are unsure of an answer, go back and review the learning activities from this module. Once you submit this assignment, you will not be able to go back and edit, but you have three attempts before the due date. When entering numbers, use a comma where appropriate, but do not use the dollar sign or decimals. One thousand is 1,000 , not $1,000, not 1000 , not 1,000.00. Correct account names spelling is needed to receive full points. Account name examples: - Prepaid Expenses - Unearned Revenue - Accrued expenses - Accrued Revenue - Vehicles - Depreciation Expense - Accumulated Depreciation - Software expense - Accounts Receivable - Accounts Payable Note: this is partial list of account names for this assignment On April 1, 2023, Nicky LLC, sells a two year cloud software subscription to Moose, Inc. for $30,000 cash. Moose pays the entire amount up front. Both Nicky and Moose use accrual accounting. Prepare the journal entry to record the April 1, 2023 transaction for Nicky LLC. DR: CR: Prepare the journal entry to record the April 1, 2023 transaction for Moose, Inc. DR: CR: Prepare the Adjusting Journal Entry (AJE) for Nicky LLC as of April 30, 2023 DR: CR: Prepare the Adjusting Journal Entry (AUE) for Moose Inc. as of April 30, 2023 DR: CR: Question 4 1.88pts On January 1, 2023, Vin Diesel Inc purchases a fleet of six vehicles for $50,000 each. They pay cash for the purchase. Vehicles have zero salvage value for depreciation calculations. Vin Diesel expects they will be able to use the vehicles to generate revenue for four years. At the end four years they were lucky to sell vehicles for scrap for $2,000 each. What is the total purchase price of the vehicles? Prepare the journal entry to record the purchase of the vehicles. DR: CR: What is the total salvage value for all six vehicles? What is the useful life in months? What is the monthly depreciation expense that Vin Diesel will record? Prepare the journal entry to record one month's depreciation. DR: CR: What is the Net Book Value of the Vehicles on December 31, 2023? During the month of September, McCall Inc provides janitorial services with a value of $800 to Bishop Co. As of September 30, McCall has not invoiced Bishop for the services and Bishop has not paid for the services. Both companies use the accrual method of accounting. What is the Adjusting Journal Entry that McCall Inc, records on September 30 to accrue for the services provided? DR: CR: What is the Adjusting Journal Entry that Bishop Co. records on September 30 to accrued for the services received? DR: CR: On October 10, McCall sends an invoice to Bishop. What is the journal entry McCall records on October 10 ? DR: CR: What is the journal entry Bishop records when they receive the invoice? DR: CR