Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer 6 and 7 since it is one question. If not, then you can answer just 7. Thank you! Swifty Surveillance Services had the

Please answer 6 and 7 since it is one question. If not, then you can answer just 7. Thank you!

image text in transcribedimage text in transcribedimage text in transcribed

Swifty Surveillance Services had the following adjustments as of the end of the year. A (Click the icon to view the adjustments.) More Info 6. For each situation, indicate which category of adjustment (deferral or accrual) is described. Journalize the adjusting entry needed. 7 a. 6. For each situation, indicate which category of adjustment (deferral or accrual) described Equipment depreciation was $1,100. b. $1,400 of advertising expense was incurred but not paid. (Use Advertising Payable.) c. Office Supplies on hand at the end of the year totaled $450. The beginning balance of Office Supplies was $700. (Assume no office supplies were purchased during the period.) d. $2,800 of rent revenue was earned but not recorded or received. Uneamed revenue of $4,200 has been earned. Adjustment Category of adjustment deferral a. e b. accrual C. deferral Print Done d. accrual e. deferral 7. Journalize the adjusting entry needed. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Equipment depreciation was $1,100. Date Accounts and Explanation Debit Credit (a) b. $1,400 of advertising expense was incurred but not paid. (Use Advertising Payable.) Date Accounts and Explanation Debit Credit (b) c. Office Supplies on hand at the end of the year totaled $450. The beginning balance of Office Supplies was $700. (Assume no office supplies were purchased during the period.) Date Accounts ar Explanation Debit Credit (c) d. $2,800 of rent revenue was earned but not recorded or received. Date Accounts and Explanation Debit Credit (d) e. Unearned revenue of $4,200 has been earned. Date ccounts and Explanation Debit Credit (e) v

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting Information for Decision-Making and Strategy Execution

Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young

6th Edition

137024975, 978-0137024971

More Books

Students also viewed these Accounting questions

Question

who are the stakeholder suppliers for p&g febreze canada

Answered: 1 week ago

Question

LO6.1 Discuss price elasticity of demand and how it is calculated.

Answered: 1 week ago