V502 Identity Server Fundamental Accountin + o file:///C:/Users/15044/Downloads/Fundamental%20Accounting%20Principles%2024th%20Edition%20by%20John%201%20Wild.c2.pdf Contents + Fit to width vundur u Dom Ji wLUTCALV0o. D Page view A Read al zach separate case, record the necessary adjusting entry. n July 1, Lopez Company paid $1,200 for six months of insurance coverage. N een made to the Prepaid Insurance account, and it is now December 31. Prepare g entry to reflect expiration of the insurance as of December 31. m Company has a Supplies account balance of $5,000 at the beginning of the ye purchases $2,000 of supplies. As of December 31, a physical count of supp pplies available. Prepare the adjusting journal entry to correctly report the bala count and the Supplies Expense account as of December 31. C WSO2 Identity Server Fundamental Accountin X tv Sell/C/Users/15044/Downloads/Fundamenta20Accounting Principles20202020by%20h.2017.20Wild pdf of 1207 Contents + to width Pageview At read about uvo u DOC JT WILLvou. 3 2 Add notes B For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. Prepare the year-end adjust- ing entry to reflect expiration of the insurance as of December 31. b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchases $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31. For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. Start a search o 8:37 PM WW2020 V502 Identity Server Fundamental Accountin + o file:///C:/Users/15044/Downloads/Fundamental%20Accounting%20Principles%2024th%20Edition%20by%20John%201%20Wild.c2.pdf Contents + Fit to width vundur u Dom Ji wLUTCALV0o. D Page view A Read al zach separate case, record the necessary adjusting entry. n July 1, Lopez Company paid $1,200 for six months of insurance coverage. N een made to the Prepaid Insurance account, and it is now December 31. Prepare g entry to reflect expiration of the insurance as of December 31. m Company has a Supplies account balance of $5,000 at the beginning of the ye purchases $2,000 of supplies. As of December 31, a physical count of supp pplies available. Prepare the adjusting journal entry to correctly report the bala count and the Supplies Expense account as of December 31. C WSO2 Identity Server Fundamental Accountin X tv Sell/C/Users/15044/Downloads/Fundamenta20Accounting Principles20202020by%20h.2017.20Wild pdf of 1207 Contents + to width Pageview At read about uvo u DOC JT WILLvou. 3 2 Add notes B For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. Prepare the year-end adjust- ing entry to reflect expiration of the insurance as of December 31. b. Zim Company has a Supplies account balance of $5,000 at the beginning of the year. During the year, it purchases $2,000 of supplies. As of December 31, a physical count of supplies shows $800 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31. For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. Start a search o 8:37 PM WW2020
