Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Other data consist of the following: 1. Paid Insurance expenses in advance amount 6000 belong two years. 2. There are 1,000 of supplies on hand
Other data consist of the following: 1. Paid Insurance expenses in advance amount 6000 belong two years. 2. There are 1,000 of supplies on hand at December 31. 3. Monthly depreciation on the equipment is 600. 4. The company has earned revenue of 1540 which will collect next year. 5. Rent accrued not yet paid 300 6. One of customer pay 1,500 R.O in advance for next two years, so the company will provide the service for next two years
Paid Insurance expenses in advance amount 6000 belong two years
Data Dr Cr 25000 2,800 1,600 60,000 600 2400 4,400 1100 Cash Account Receivable Office supplies Equipment Accumulated Depreciation Unearned revenue Account payable Salary payable Capital Withdrew Revenue Salaries Expenses Electric & Water Expenses Advertising Expenses Total 46600 1800 40500 3,200 800 400 95600 95600Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started