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QuizServlet?ccid=11054 Question 5 [15 points] At February month-end, X-cell Inc gathered the information listed below for the preparation of adjusting entries Indicate whether the required
QuizServlet?ccid=11054 Question 5 [15 points] At February month-end, X-cell Inc gathered the information listed below for the preparation of adjusting entries Indicate whether the required adjusting entry for each item would cause an increase (+). 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 accounting equation and also an increase in the same component but in a different account, select ( +/- ), AL E a) Unrecorded and uncollected consulting fees at the end of the month were $6 250 b) Interest of $50 has accrued on a bank loan and is unrecorded c) $500 of the insurance policy purchased in advance has expired d) $3,650 of the advertising paid for in advance has been published by the newspaper e) $2,500 of the rent paid in advance has expired f) A review of the $48000 unadjusted balance in the prepaid insurance account shows a remaining balance of $43.000 at the end of the month g) of the rent paid to X-cell Inc in advance, $1,500 has been earned h) The estimated monthly depreciation on the building is $340 b) of the $48,000 consulting fees X-cell Inc received in advance, S44 200 has not yet been earned 1) A review of the $54,000 unadjusted balance in the prepaid rent account shows a remaining balance of $51,750 at the end of the month k) The monthly depreciation on the furniture is $410 1) $16.000 of the rent paid in advance has expired m) Interest of $490 notes receivable is unrecorded and unpaid n) A building X-cell Inc owns is rented out for S2 250 each month. The current month's rent has not been received by month-end b) A review of the $48,000 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $47 650 SUBMIT AND MARK Time Remaining: 51:42 11:11 PM 2021 wi
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