Hello! I need some help with accounting. I need to jurnalize the adjusting entries. Journalism the adjustments in the order given in the question.General JurnalDate description. Post debit credit20-- adjusting entriesMar.31 ______ ______Mar.31 ______ ______Mar.31 ______ ______Mar31 ______ ______Mar.31 ______ ______Mar.31 ______ ______Then I must prepare an income statement salariesExpense2,455(e)4802,9352,9351S Rent Expense 1,325151,3251,325Travel16Expense16398398398Utilities17Expense17196196196Advertising1818590590590ExpenseMiscellaneous19Expense19145145145202050,383 50,383Insurance21Expense21(a)260260260Depreciation22 Expense,60060022(b)600EquipmentDepreciationExpense,23Office(c)47047047023FurnitureDepreciation24 Expense,(d)762762762TruckSalaries25Payable(e)480480480 25Supplies26Expense(f)18018018026272,7522,752 52,695 52,695 7,861 12,589 44,834 40,106 2728 Net Income4,7284,728 282912,589 12,589 44,834 44,834 2930303131Required:oarialize the adjusting entries. Journalize the adjustments in the order given in the question.GENERAL JOURNAL24 For Month Ended March 31, 20--TRIALADJUSTEDINCOMEBALANCEBALANCEADJUSTMENTSTRIALSHEETSTATEMENTBALANCEACCOUNTDEBIT CREDITNAMEDEBITCREDITDEBIT CREDIT DEBIT CREDIT DEBIT CREDIT1 Cash6,2301.6,2306,2302 Supplies532352(f)180352Prepaid319883.1,248(a)260988Insurance4 Equipment6,2856,2856,2854Accumulated5 Depreciation,4,1204,120 53,520(b)600EquipmentOffice6Furniture3,6803,6803,680AccumulatedDepreciation,7.Office2,816(c)4703,2863,286 7Furniture8 Truck23,79923,79923,7998Accumulated9 Depreciation,18,163(d)18,92518,925 9TruckAccounts10Payable2,6232,6232,623 10D. Chelsey,11Capital10,67210,67210,672 11D. Chelsey,12Drawing3,5003,5003,50012Professional13Fees12,58912,58912,58913

Adjustment Entries is generally prepared at the end of the Period so that correct financial…

Hello! I need some help with accounting. I need to jurnalize the adjusting entries. Journalism the adjustments in the order given in the question. General Jurnal Date description. Post debit credit 20-- adjusting entries Mar.31 ______ ______ Mar.31 ______ ______ Mar.31 ______ ______ Mar31 ______ ______ Mar.31 ______ ______ Mar.31 ______ ______ Then I must prepare an income statement

Hello! I need some help with accounting. I need to jurnalize the adjusting entries. Journalism the adjustments in the order given in the question. General Jurnal Date description. Post debit credit 20-- adjusting entries Mar.31 Mar.31 Mar.31 Mar31 Mar.31 Mar.31 Then I must prepare an income statement

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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Current Attempt in Progress The bookkeeper for Sandhill Company asks you to prepare the following accrual adjusting entries at December 31. Use these account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) a. b.. C No. a. b. C. D Interest on notes payable of $420 should be accrued. Services performed but unbilled totals $1,780. Salaries of $750 earned by employees have not been recorded or paid. Date Account Titles and Explanation Dec. 31 Dec. 31 Dec. 31 Debit Credit www
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Adjustment for Insurance On December 1, a six-month liability insurance policy was purchased for $900. Analyze the required adjustment as of December 31 using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) (Balance Sheet)Prepaid Insurance fill in the blank a8cfc50a8015fe0_2 fill in the blank a8cfc50a8015fe0_4 Bal. fill in the blank a8cfc50a8015fe0_5 (Income Statement)Insurance Expense Adj. fill in the blank a8cfc50a8015fe0_6 Page: DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20--Dec. 31 fill in the blank 59564e01b03df92_2 fill in the blank 59564e01b03df92_3 1 2 fill in the blank 59564e01b03df92_5 fill in the blank 59564e01b03df92_6 2
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Carla Vista Corporation has the following selected transactions during the year ended December 31, 2024: Jan. 1 Purchased a copyright for $117.480 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Mar. 1 Sept. 1 Dec. 31 Acquired a franchise with a contract period of nine years for $500,850; the expiration date is March 1, 2033, Paid cash of $38,820 and borrowed the remainder from the bank. Purchased a trademark with an indefinite life for $73,190 cash. As the purchase was being finalized, spent $33.150 cash in legal fees to successfully defend the trademark in court. Purchased an advertising agency for $640,000 cash. The agency's only assets reported on its statement of financial position immediately before the purchase were accounts receivable of $58,000, furniture of $170,000, and leasehold improvements of $320,000. Carla Vista hired an independent appraiser who estimated that the fair value of these assets was accounts receivable $58,000,…
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Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column. (Record debits first, then able. Check your spelling carefully and do not abbreviate. Use the account names provided in the problem.) a. Service revenue accrued, $600. Date (a) Mar. 31 Accounts and Explanation Debit Credit
Requirements Sheet in Workbook Requirement 1—Prepare the Journal Entries in the General Journal Journal Entries Requirement 2—Post Journal Entries to the General Ledger General Ledger Requirement 3—Prepare a Trial Balance Trial Balance Requirement 4—Prepare the Adjusting Entries Adjusting Entries Requirement 5—Post Adjusting Entries to the General Ledger General Ledger Requirement 6—Prepare an Adjusted Trial Balance Adjusted Trial Balance Requirement 7—Prepare the Financial Statements Financial Statements Requirement 8—Prepare the Closing Entries Closing Entries Requirement 9—Post Closing Entries to the General Ledger General Ledger Requirement 10—Prepare the Post Closing Trial Balance Post-Closing Trial Balance During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation, completed the following transactions. July 1 Began business by making a deposit in a company…
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Pp.53. Subject :- Account