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Required information [ The following information applies to the questions displayed below. ] Hannah Company's annual accounting year ends on June 3 0 . All
Required information The following information applies to the questions displayed below. Hannah Company's annual accounting year ends on June All of the entries for the current year have been made, except the following adjusting entries: a On March of the current year, Hannah paid a sixmonth premium for property insurance, $ for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount. b On June of the current year, Hannah collected two months' maintenance revenue of $ At that date, Hannah debited Cash and credited Unearned Maintenance Revenue for $ c At June of the current year, wages of $ were earned by employees but not yet paid. The employees will be paid on the next payroll date in July, the beginning of the next fiscal year. d Depreciation of $ must be recognized on a service truck that cost $ when purchased on July of the current year. e Cash of $ was collected on May of the current year for services to be rendered evenly over the next year beginning on May of the current year. Unearned Service Revenue was credited when the cash was received. f On February of the current year, the company borrowed $ from a local bank and signed a oneyear, percent note for that amount, with the principal and interest payable on the maturity date. g On June of the current year, the company estimated that it owed $ in property taxes on land it owned in the second half of the current fiscal year. The taxes will be paid when billed in August of the next fiscal year. h The company earned service revenue of $ on a special job that was completed June of the current year. Collection will be made during July and no entry has been recorded. Prepare the adjusting entry required for each transaction at June Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Journal entry worksheet On March of the current year, Hannah paid a sixmonth premium for property insurance, $ for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount. Note: Enter debits before credits.
Required information
The following information applies to the questions displayed below.
Hannah Company's annual accounting year ends on June All of the entries for the current year have been made,
except the following adjusting entries:
a On March of the current year, Hannah paid a sixmonth premium for property insurance, $ for coverage
starting on that date. Cash was credited and Prepaid Insurance was debited for this amount.
b On June of the current year, Hannah collected two months' maintenance revenue of $ At that date, Hannah
debited Cash and credited Unearned Maintenance Revenue for $
c At June of the current year, wages of $ were earned by employees but not yet paid. The employees will be
paid on the next payroll date in July, the beginning of the next fiscal year.
d Depreciation of $ must be recognized on a service truck that cost $ when purchased on July of the
current year.
e Cash of $ was collected on May of the current year for services to be rendered evenly over the next year
beginning on May of the current year. Unearned Service Revenue was credited when the cash was received.
f On February of the current year, the company borrowed $ from a local bank and signed a oneyear,
percent note for that amount, with the principal and interest payable on the maturity date.
g On June of the current year, the company estimated that it owed $ in property taxes on land it owned in the
second half of the current fiscal year. The taxes will be paid when billed in August of the next fiscal year.
h The company earned service revenue of $ on a special job that was completed June of the current year.
Collection will be made during July and no entry has been recorded.
Prepare the adjusting entry required for each transaction at June
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
On March of the current year, Hannah paid a sixmonth premium for
property insurance, $ for coverage starting on that date. Cash was
credited and Prepaid Insurance was debited for this amount.
Note: Enter debits before credits.
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