Hawk Company used the following information to prepare adjusting entries at its December 31 year-end. a. The company earned $6,000 in service revenues that were not yet recorded at year-end. b. The expired portion of prepaid insurance was $5,250. c. The company earned $2100 of its Unearned Revenue account balance. d. Depreciation expense for office equipment was $2,600. e. Employees earned, but have not been paid, salaries of $2,700. Prepare any necessary reversing entries for accounting adjustments a through e assuming that the company uses reversing entries. (1f a transaction does not require a reversing entry, then choose 'Reversing entry not required')
Hawk Company used the following information to prepare adjusting entries at its December 31 year-end. a. The company earned $6,000 in service revenues that were not yet recorded at year-end. b. The expired portion of prepaid insurance was $5,250. c. The company earned $2100 of its Unearned Revenue account balance. d. Depreciation expense for office equipment was $2,600. e. Employees earned, but have not been paid, salaries of $2,700. Prepare any necessary reversing entries for accounting adjustments a through e assuming that the company uses reversing entries. (1f a transaction does not require a reversing entry, then choose 'Reversing entry not required')
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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give me reverse entries please
Transcribed Image Text:Hawk Company used the following information to prepare adjusting entries at its December 31 year-end.
a. The company earned $6,000 in service revenues that were not yet recorded at year-end.
b. The expired portion of prepaid insurance was $5,250.
c. The company earned $2,100 of its Unearned Revenue account balance.
d. Depreciation expense for office equipment was $2,600.
e. Employees earned, but have not been pald, salaries of $2,700.
Prepare any necessary reversing entries for accounting adjustments a through e assuming that the company uses reversing entries. (If
a transaction does not require a reversing entry, then choose 'Reversing entry not required'.)
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