Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Selected December January Transactions Dec. 31 Year-End Started Work for Telo Dec 1 Dec 7 - Dec 13 Dec 24 Jan 5 Jan 12 Received Cash in Advance Wages Paid Additional Information as of December 31 Telo Job Completion at Year-End ABX Job Completion at Year-End Telo 60% Complete ABX 25% Complete Prev 1 of 4 Next > Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at Year-End tableau CTO 1. Record (a) the prepayment of insurance on December 1 and (b) the adjusting journal entry for prepaid insurance on December 31 2. Record (a) the advance payment from ABX and (b) the adjusting journal entry to unearned revenue on December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record (a) the prepayment of insurance on December 1 and (b) the adjusting journal entry for prepaid insurance on December 31. View transaction list Journal entry worksheet View transaction list eBook Journal entry worksheet Print References Record the insurance coverage that expired. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal Required 2 > Journal entry worksheet Record the cash received for services to be performed. Note: Enter debits before credits. General Journal Debit Credit Date Dec 24 Record entry Clear entry View general journal Record the revenue for services provided. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal O te9W A e assistance in preparing December 31 financial statements, including its ssist in the work. uary Transactions Dec. 31 Year-End January 5 Paid wages of $800 cash to workers. Wages Paid - of December 31 ABX Job Completion at Year-End ABX 25% Complete December 1 and needs assistance in preparing December 31 financial statements, includ nboard is provided to assist in the work. December January Transactions Dec. 31 Year-End Dec 24 Jan 5 January 12 Received $10,000 cash from Telo for work performed over the last 30 days. Wages Paid nformation as of December 31 End ABX Job Completion at Year-End ABX 25% Complete Telo Job Completion at Year-End ABX Job Complet Telo 60% Complete AB 25% Cor Supplies Remaining at Year-End Wages Earned By Worke Year-E Supplies Remaining at Year-End: 8700 tableau Prey I mA ABX 25% Complete Wages Earned By Workers but not yet Paid at Year-End Wages Earned By Workers but not yet Paid at Year-End: $500 - - - - + = + of ? O Prey 1 of 4 5 Next >

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_2

Step: 3

blur-text-image_3

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

Effective Communications

Authors: Elearn

1st Edition

1138456136, 9781138456136

More Books

Students also viewed these Accounting questions

Question

9.7 List and briefly discuss four management development methods.

Answered: 1 week ago