Please prepare Journal Entries & T Accts for: 2019 December Adjusting Entries Amount o. One month of the prepaid insurance has expired. $170 p. The December portion of the rent paid on December 1 has expired. $900 q. Counted supplies and found this amount still on hand (recorded the amount used as an expense) $100 r. The amount collected in transaction m is unearned at December 31. $2,000 s. Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. $2,900 t. One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 361.111 3 u. Income taxes expense to be paid in the next fiscal year. $100
Please prepare Journal Entries & T Accts for: 2019 December Adjusting Entries Amount o. One month of the prepaid insurance has expired. $170 p. The December portion of the rent paid on December 1 has expired. $900 q. Counted supplies and found this amount still on hand (recorded the amount used as an expense) $100 r. The amount collected in transaction m is unearned at December 31. $2,000 s. Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. $2,900 t. One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 361.111 3 u. Income taxes expense to be paid in the next fiscal year. $100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| 2019 | |||||||||||||
| December | Amount | ||||||||||||
| o. | One month of the prepaid insurance has expired. | $170 | |||||||||||
| p. | The December portion of the rent paid on December 1 has expired. | $900 | |||||||||||
| q. | Counted supplies and found this amount still on hand (recorded the amount used as an expense) | $100 | |||||||||||
| r. | The amount collected in transaction m is unearned at December 31. | $2,000 | |||||||||||
| s. | Three days of wages for December 29, 30, and 31 are unpaid. These will be paid in January. | ||||||||||||
| $2,900 | |||||||||||||
| t. | One month of |
361.111 | 3 | ||||||||||
| u. | Income taxes expense to be paid in the next fiscal year. | $100 |
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