Question
On November 10, JumpStart provides $1,980 in services to clients. At the time of service, the clients paid $460 in cash and put the balance
On November 10, JumpStart provides $1,980 in services to clients. At the time of service, the clients paid $460 in cash and put the balance on account. a. Journalize this event. If an amount box does not require an entry, leave it blank. Nov. 10 fill in the blank 6cc090ff5fcdfe1_2 fill in the blank 6cc090ff5fcdfe1_3 fill in the blank 6cc090ff5fcdfe1_5 fill in the blank 6cc090ff5fcdfe1_6 fill in the blank 6cc090ff5fcdfe1_8 fill in the blank 6cc090ff5fcdfe1_9 b. On November 20, JumpStart's clients paid an additional $530 on their accounts due. Journalize this event. If an amount box does not require an entry, leave it blank. Nov. 20 fill in the blank c8c232f83003f99_2 fill in the blank c8c232f83003f99_3 fill in the blank c8c232f83003f99_5 fill in the blank c8c232f83003f99_6 c. Compute the accounts receivable balance on November 30. $fill in the blank ea453502cf8b029_1
2)
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On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty:
- Fees accrued but unbilled at May 31 are $11,890.
- The supplies account balance on May 31 is $3,910. The supplies on hand at May 31 are $1,120.
- Wages accrued but not paid at May 31 are $1,500.
- The unearned rent account balance at May 31 is $11,640, representing the receipt of an advance payment on May 1 of three months' rent from tenants.
- Depreciation of office equipment is $1,990.
Required:
1. Journalize the adjusting entries required at May 31. If an amount box does not require an entry, leave it blank.
May 31 fill in the blank ed9a2700401f055_2 fill in the blank ed9a2700401f055_3 fill in the blank ed9a2700401f055_5 fill in the blank ed9a2700401f055_6 31 fill in the blank ed9a2700401f055_8 fill in the blank ed9a2700401f055_9 fill in the blank ed9a2700401f055_11 fill in the blank ed9a2700401f055_12 31 fill in the blank ed9a2700401f055_14 fill in the blank ed9a2700401f055_15 fill in the blank ed9a2700401f055_17 fill in the blank ed9a2700401f055_18 31 fill in the blank ed9a2700401f055_20 fill in the blank ed9a2700401f055_21 fill in the blank ed9a2700401f055_23 fill in the blank ed9a2700401f055_24 31 fill in the blank ed9a2700401f055_26 fill in the blank ed9a2700401f055_27 fill in the blank ed9a2700401f055_29 fill in the blank ed9a2700401f055_30 2. What is the difference between adjusting entries and correcting entries?
- Both adjusting entries and correcting entries are a planned part of the accounting process.
- Adjusting entries are a planned part of the accounting process, correcting entries are not planned but arise when necessary to correct errors.
- Both adjusting entries and correcting entries are not a planned part of the accounting process.
- Correcting entries are a planned part of the accounting process, adjusting entries are not planned but arise when necessary to adjust errors.
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