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solve it within 15 minutes please Question 3 [15 points] At January month-end, Zcom Inc. gathered the information listed below for the preparation of adjusting
solve it within 15 minutes please
Question 3 [15 points] At January month-end, Zcom 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 ( +/- ). A = L + E a) A review of the $36,000 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $35,350. b) Unrecorded and uncollected consulting fees at the end of the month were $4,750. c) $4,500 of the rent paid in advance has expired. d) of the $12,000 rent paid to Zcom Inc. in advance, $11,500 has not yet been earned. e) $200 of property taxes have accrued and are unrecorded. f) The estimated monthly depreciation on the furniture is $160. g) $3,800 of the television advertising paid for in advance has been used. h) A review of the $18, unadjusted balance in the paid rent account shows a remaining balance of $16,500 at the end of the month. i) $4,850 of the advertising paid for in advance has been published by the newspaper. j) Accrued salaries at month-end totalled $1,500. k) The monthly depreciation on the equipment is $250. D) $500 of the insurance policy purchased in advance has expired. m) The estimated monthly depreciation on the building is $470. n) $190 of interest has accrued on a note receivable and is unrecorded. o) A review of the $30,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $27,900 at the end of the monthStep by Step Solution
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