a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $7,580. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,800 of office supplies purchased on July 4, $250 remains. e. Interest expense on the $41,000 loan obtained from the city council on August 1 should be recorded. f. Of the $3,000 of racing supplies purchased on December 12, $110 remains. g. Suzie calculates that the company owes $13,500 in income taxes. General General Income Statement Requirement Journal Trial Balance Statement of Balance Sheet Ledger SE Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No journal ent account field.) View transaction list Journal entry worksheet 30 31 32 33 34 35 36 37 ..... Prepare the closing entry for cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021
a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $7,580. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,800 of office supplies purchased on July 4, $250 remains. e. Interest expense on the $41,000 loan obtained from the city council on August 1 should be recorded. f. Of the $3,000 of racing supplies purchased on December 12, $110 remains. g. Suzie calculates that the company owes $13,500 in income taxes. General General Income Statement Requirement Journal Trial Balance Statement of Balance Sheet Ledger SE Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No journal ent account field.) View transaction list Journal entry worksheet 30 31 32 33 34 35 36 37 ..... Prepare the closing entry for cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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