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

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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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In 2019, a company reported sales revenue of Landon Manufacturing Company produced 2,000 units of inventory in March 2023. It expects to produce an additional 18,000 units during the remaining nine months of the year, resulting in an estimated total production of 20,000 units for 2023. The direct materials and direct labor costs per unit are $72 and $60, respectively. The company expects to incur the following manufacturing overhead costs for the 2023 accounting period: ⚫ Production supplies: $12,000 • Supervisor salary: $200,000 Depreciation on equipment: $80,000 ⚫ Utilities: $25,000 . Rental fee on manufacturing facilities: $55,000 a. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is the number of units. b. Determine the total cost of the 2,000 units produced in March.

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.

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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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