Rent paid for 8 months upto 28th February 2019 amount to 32000 since then rent increase by 20% the rent written off an expense in the income statement for the year ended 30 June 2019

Accrued Income Taxes Nolan Inc. had taxable income of $400,000 in 2019. Its effective tax rate is 35%. Nolan pays its 2019 income taxes on April 15, 2020. Required: 1. Given this information, determine the adjusting journal entry that Nolan must make on December 31, 2019. 2. Prepare the journal entry to record the tax payment.

Recording Accrued Interest Expense Alaska Inc. borrowed $16,000 by signing a one-year note payable on November 1, 2020. The note bears interest at 10% and interest is payable upon maturity of the note. a. Record this financing transaction on November 1, 2020. b. Record the year-end adjusting entry required on December 31, 2020. Hint: Prorate the annual interest of 10% for two months. c. Record the entry to repay the note on November 1, 2021. Note: Round your answers to the nearest dollar. For example, enter 50 for 50.49 and enter 51 for 50.5

rent Assets all Hanson Construction has an operating cycle of 9 months. On December 31, 2019, Hanson has the following assets and liabilities: a. A note receivable in the amount of $1,200 to be collected in 6 months b. Cash totaling $460 c. Accounts payable totaling $1,700, all of which will be paid within 2 months d. Accounts receivable totaling $12,000, including an account for $8,000 that will be paid in 2 months and an account for $4,000 that will be pa in 18 months e. Construction supplies costing $8,800, all of which will be used in construction within the next 12 months f. Construction equipment costing $60,000, on which depreciation of $22,400 has accumulated g. A note payable to the bank in the amount of $7,600 is to be paid within the next year Required: 1. Calculate the amounts of current assets and current liabilities reported on Hanson's balance sheet at December 31, 2019.