Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please give me clear answer.i didn't understand last amswer. At May month-end, Courtland Corp gathered the information listed below for the preparation of adjusting entries
please give me clear answer.i didn't understand last amswer.
At May month-end, Courtland Corp gathered the information listed below for the preparation of adjusting entries Indicate whether the required adjusting entry for each he would decrease (-), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a decrease in one component of the accountington and component but in a different account, select (+/-) ALE a) Consulting work performed but unrecorded at the end of the month totalled $4,750 b) $250 of the insurance policy purchased in advance has expired c) The monthly depreciation on the building is $150 d) $1,350 of the advertising paid for in advance has been published by the newspaper .) $4.500 of the insurance policy purchased in advance has expired 0 $3,000 of advertising Courtland Corp. placed in the local newspaper is unrecorded and unpaid The estimated monthly depreciation on the furniture is 5330 h) A review of the $42.000 unadjusted balance in the prepaid insurance account shows a remaining balance of $35 500 at the end of the month The estimated monthly depreciation on the equipment is 5430 11 516,000 of the rent paid in advance has expired 51.350 of the television advertising paid for in advance has been used D 54,300 of the consulting foos paid to Courtland Corp in advance has been earned m) $250 of the rent paid to Courtland Corp in advance has been camed n) 55.000 of the rent paid in advance has been used o) A review of the $36.000 unadjusted balance in the prepaid rent account shows a remaining balance of 332.750 at the end of the monthStep 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