1. For each December 31 adjusting entry (for Industry J), indicate the account impacted along with...
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1. For each December 31 adjusting entry (for Industry J), indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Important! Be sure to click the correct Industry at the top of the dashboard. Industry J Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages Assets = Liabilities + Equity + -$290 Insurance expense -$290 Prepaid insurance = +290 Supplies -2,900 Wages payable -290 Accounts receivable = = d. Accrued Revenue = e. Unearned Revenue -17,400 Unearned revenue = II + + + + + Required information [The following information applies to the questions displayed below.] 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. Select Industry - -> _A_ B _C_ _D_ G _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec 1 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Prepaid a 24 month insurance policy (coverage starting immediately) for $6,960 cash. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → B D _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec. 31 Year-End Finished Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Jan 5 Jan 12 Dec 7 Purchased supplies for $5,800 cash. Purchased Sup vance Wages Paid Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → _A_ E ____H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec 13 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Agreed to do $29,000 worth of work for Telo over the next 30 days. Payment is to be received when the work is completed on Jan. 12. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry- →> B E Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Dec 24 Purchased Supplies Received $11,600 cash in advance to perform work for ABX over the next four weeks. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry - _A_ B _C_ _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Purchased Supplies Dec. 31 Year-End Finished Work for Telo Received Cash in Advance lan 5 Jan 12 Jan 5 Paid wages of $2,320 cash to workers. wayes raiu Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → _A_ B Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Purchased Supplies Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Jan 12 Received $29,000 cash from Telo for work performed over the last 30 days. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at 華+ableau Supplies Remaining at Year-End: $2,030 Year-End ป ་ 宫 Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at Year-End +ableau Wages Earned By Workers but not yet Paid at Year-End: $1,450 K о 80 D 1. For each December 31 adjusting entry (for Industry J), indicate the account impacted along with the amount and direction (+ or -) of the effects on the accounting equation by filling in the following table. The first entry is completed. Important! Be sure to click the correct Industry at the top of the dashboard. Industry J Adjusting Entry a. Prepaid Insurance b. Supplies c. Accrued Wages Assets = Liabilities + Equity + -$290 Insurance expense -$290 Prepaid insurance = +290 Supplies -2,900 Wages payable -290 Accounts receivable = = d. Accrued Revenue = e. Unearned Revenue -17,400 Unearned revenue = II + + + + + Required information [The following information applies to the questions displayed below.] 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. Select Industry - -> _A_ B _C_ _D_ G _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec 1 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Prepaid a 24 month insurance policy (coverage starting immediately) for $6,960 cash. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → B D _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec. 31 Year-End Finished Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Jan 5 Jan 12 Dec 7 Purchased supplies for $5,800 cash. Purchased Sup vance Wages Paid Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → _A_ E ____H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec 13 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Agreed to do $29,000 worth of work for Telo over the next 30 days. Payment is to be received when the work is completed on Jan. 12. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry- →> B E Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Dec 24 Purchased Supplies Received $11,600 cash in advance to perform work for ABX over the next four weeks. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry - _A_ B _C_ _H_ Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Purchased Supplies Dec. 31 Year-End Finished Work for Telo Received Cash in Advance lan 5 Jan 12 Jan 5 Paid wages of $2,320 cash to workers. wayes raiu Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Required information [The following information applies to the questions displayed below.] 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. Select Industry → _A_ B Selected December-January Transactions Purchased Insurance Started Work for Telo Dec 1 Dec 7 Dec 13 Dec 24 Purchased Supplies Dec. 31 Year-End Finished Work for Telo Jan 5 Jan 12 Jan 12 Received $29,000 cash from Telo for work performed over the last 30 days. Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at 華+ableau Supplies Remaining at Year-End: $2,030 Year-End ป ་ 宫 Additional Information as of December 31 Telo 60% Complete ABX 25% Complete Supplies Remaining at Year-End Wages Earned By Workers but not yet Paid at Year-End +ableau Wages Earned By Workers but not yet Paid at Year-End: $1,450 K о 80 D
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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