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Following are the transactions of a new company called Smiley Pictures Aug. 1 Fahmy Amin, the owner, invested $35,000 cash in the company The company provided photography services for one of its customers for 22,500 received 10,000 cash and the remaining amount will be received within 7 days 19 The company borrowed $15.000 cash from the bank by signing a promissory note to be paid after 9 months. Prepare general journal entries for the above transactions View transaction list Journal entry worksheetOn January 1 a company purchased a five year insurance policy for $2,300 with coverage starting Immediately. If the purchase was recorded in the expense account and the company records adjustments only at year-end, the adjusting entry at the end of the first yearists Debit Insurance Expense, $1,840, credit Prepayments, $1840 O Debit Prepayments, $1,840; credit Insurance Expense. $1 340 Debit Prepayments. $460; credit Insurance Expense. $460. O Debit Prepayments. $2.300; credit Cash, $2,300. O Debit Insurance Expense, $460; credit Prepayments, $460PPW Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $1.075. This other company paid the entire $8.600 cash on October 1, which PPW Co. recorded as revenue. The journal entry made by PPW cor at year-end on December 31 would include: A credit to Rent Revenue for $3,225. O A credit to Revenue received in advance for $5,375. O A debit to Cash for $8,600. O A credit to Revenue received in advance for $3.225 A debit to Rent Revenue for $3,225.win mheducation.com in a D Google bile Of YouTube . Grad M liu connect ntal Accounting Principles: 8124 20410748 Alala KSA. (24-6-2021 12:00-1:00 PM Inreductions I he Save & Let Some Time semaining: 0:33:00 A company purchased a new truck at a cost of $35,000 on July 1,2019. The truck is estimated to have a usefu life of 3 years and a salvage value of $2,000 The company uses the straight-lie method of depreciation The book value of the truck al Decenant 31, 7019 Is O $29500 $24080 O $33.000 O $22.0009. On December 1. Miller Company borrowed $570.000. at 6% annual Interest from the Nomo Bank Miller has 120 days before the first payment is required. What is the adjusting entry that Millet would need to make on December 31, the calendar year-end? (Use 360 days in a year jungle Debit Accruals. $2.850; credit Interest Expense. $2.850. Debit Interest Expense, $11,400. credit Accruals $11400 )Debit Interest Expense, $2.850 credit Accruals $2 860, ) Debit Interest Expense, $2.850: credit Cash, SP1350 ) Debit Interest Expense, $34 200: credit Accruals. $31 200