Preparing the Reversing EntriesRequired: Prepare the reversing entries.Completing the Accounting Cycle | 285NAME:SCORE:SECTION:PROFESSOR:Problem #6some of the adjusting entries of the Sherwin Mark De Oro Apartments on Dec. 31, 2020is presented below:2020Prepaid InsuranceInsurance ExpenseDec. 3125,00025,000To record unexpired insurance at year-end.31Interest Receivable17,000Interest Income17,000To record accrued interest at year-end.31Office Supplies Expense50,000Office SuppliesTo record office supplies used during theperiod.50,000Depreciation ExpenseAccumulated DepreciationTo record depreciation for the year.31125,000125,00035,000Salaries ExpenseSalaries PayableTo record salaries accrued at year-end.3135,00031 Rent Revenues80,000Unearned Rent Revenues80,000To record liability of unearned rentrevenue at year-end.Required: Prepare the reversing entries.2020.12.30 15:28 2020.12.30 15:27accounts of here in form:The for Pascual has entries "a"through "e" to at Dec. 31, All the and equityIdentifying EntriesCompleting the Accounting Cycle| 283NAME:SCORE:SECTION:PROFESSOR:Problem #4dentifying and Journalizing Closing Entriesof%3DAccounts ReceivablePascual, Withdrawals524,000(a)SuppliesService Revenues1,030,000Accumulated Depreciation-FurnitureSalaries Expense(q)Accumulated Depreciation-Building(p)Supplies Expense330,000(a)(c)Salaries PayableDepreciation Expense-Furniture000,()(a)Depreciation Expense-Building(c)Pascual, Capital494,000Required:

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Completing the Accounting Cycle | 285 NAME: SECTION: SCORE: PROFESSOR: Problem #6 Preparing the Reversing Entries some of the adjusting entries of the Sherwin Mark De Oro Apartments on Dec. 31, 2020 is presented below:

Completing the Accounting Cycle | 285 NAME: SECTION: SCORE: PROFESSOR: Problem #6 Preparing the Reversing Entries some of the adjusting entries of the Sherwin Mark De Oro Apartments on Dec. 31, 2020 is presented below:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Edit View History Bookmarks Profiles Tab Window Help Question 5 - Proctoring Enable X + getproctorio.com/secured #lockdown octoring Enabled: Chapter 3 Required Homewor... D W 5 The trial balance for Canton Incorporated, listed the following account balances at December 31, 2024, the end of Canton Incorporated's fiscal year: cash, $32,000; accounts receivable, $27,000; inventory, $41,000; equipment (net), $96,000; accounts payable, $30,000; salaries payable, $13,000; interest payable, $9,000; notes payable (due in 20 months), $46,000; common stock, $82,000. Current assets Current liabilities ↑ Please calculate total current assets and total current liabilities that would appear in the year-end balance sheet of Canton Incorporated. #3 E с 54 $ R % G Search or type URL 5 T < Prev 5 of 5 Saved A 6 MacBook Pro Y & 7 Next * 00 8 + 9 O E 0 Help P | 1 50% * Save & Exit 0 + 11
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