Adjusting Entries : Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting. 1. To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

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Answer 1

Question

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

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During its first year, Maple Corp. showed a $20 per-unit profit under absorption costing but would have reported a total profit of $18,000 less under variable costing. Suppose production exceeded sales by 600 units and an average contribution margin of 60% was maintained. a. What is the fixed cost per unit? b. What is the sales price per unit? c. What is the variable cost per unit? d. What is the unit sales volume if total profit under absorption costing was $220,000?

the after-tax income?

Answer 2

Question

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

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Answer 3

Question

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

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Answer 4

Question

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

Answer 6

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

Answer 7

Chapter 3, Problem 4QS

To determine

Adjusting Entries: Adjusting entries are optional journal entries passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

1.

To identify: The adjusting entries to be passed at the end of the accounting period for accrued salaries expense.

Answer 8

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

Answer 9

2.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

Answer 10

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

Answer 11

3.

To determine

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 3 - A company forgot to record accrued and unpaid...Ch. 3 - Prior to recording adjusting entries, the Supplies...Ch. 3 - Prob. 3MCQ Ch. 3 - On November 1, Stockton Co. receives $3,600 cash...Ch. 3 - Prob. 5MCQ Ch. 3 - Prob. 1DQ Ch. 3 - Prob. 2DQ Ch. 3 - Prob. 3DQ Ch. 3 - Prob. 4DQ Ch. 3 - Prob. 5DQ

Solution Summary: The author explains how adjusting entries are passed at the end of the accounting period to match the revenue with the expenses as per the accrual basis of accounting.

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To identify: The adjusting entries to be passed at the end of the accounting period to adjust the unearned services revenue account to recognize earned revenue.

To identify: The adjusting entries to be passed at the end of the accounting period to record services revenue earned for which cash will be received the following period.

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