The unadjusted trial balance of Bonita Co. on June 30, 2024, includes the following selected accounts:BONITA CO.Trial Balance (Selected Accounts)June 30, 2024SuppliesPrepaid insuranceEquipmentAccumulated depreciation-equipmentUnearned revenueDebit$5800222049100Credit$466019000 An analysis of the accounts shows that a one-year insurance policy for $2220 was purchased on June 1, 2024. Which of the followingreflects the adjusting entry for the month of June?Insurance ExpensePrepaid Insurancenone of thesePrepaid InsuranceInsurance ExpensePrepaid InsuranceCash1852220222018522202220

Name: The unadjusted trial balance of Bonita Co. on June 30, 2024, includes
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Description: The unadjusted trial balance of Bonita Co. on June 30, 2024, includes the following selected accounts:BONITA CO.Trial Balance (Selected Accounts)June 30, 2024SuppliesPrepaid insuranceEquipmentAccumulated depreciation-equipmentUnearned revenueDebit$5

Accrual accounting records revenue and expenses when they are earned or incurred, regardless of when…

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The unadjusted trial balance of Bonita Co. on June 30, 2024, includes the following selected accounts: BONITA CO. Trial Balance (Selected Accounts) June 30, 2024 Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Unearned revenue Debit $5800 2220 49100 Credit $4660 19000

The unadjusted trial balance of Bonita Co. on June 30, 2024, includes the following selected accounts: BONITA CO. Trial Balance (Selected Accounts) June 30, 2024 Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Unearned revenue Debit $5800 2220 49100 Credit $4660 19000

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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Subject/Course: Financial Accounting.
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