Explanation The performed services for patient on January 1 is $750 but not billed by the insurance companies. Date Account Title and Explanation Post Ref. Debit ($) Credit ($) Jan 1 Accounts receivable 750 Service revenue 750 (To record accounts receivable) Justification: Accounts receivable is the asset and it is increased therefore it is debited. Service revenue is an asset and it decreases due to increase in accounts receivable. Therefore, it is credited. The utility expenses incurred but not before January 31 totaled $520. Date Account Title and Explanation Post Ref. Debit ($) Credit ($) Jan 1 Utilities expenses 520 Accounts payable 520 (To record utilities expenses for the accounts) Justification: Utilities expenses is an expense. It decreases the liability value. Henceforth it is debited. Accounts payable is a liability. It increases the value of the liability. Therefore, it is credited. The dental equipment on January 1is for $80,000, paying $20,000 in cash and signing $60,000 which is 3-year note payable. The equipment depreciates $400 per month and the interest is $500 per month. Date Account Title and Explanation Post Ref. Debit ($) Credit ($) March 31 Depreciation expense 400 Accumulated depreciation 400 (To record accumulated depreciation of the equipment) Justification: Depreciation expenses is an expense. It decreases the liability value. Henceforth it is debited. Accumulated depreciation increases therefore, it is credited. Date Account Title and Explanation Post Ref. Debit ($) Credit ($) Jan 1 Interest expense 500 Interest payable 500 (To record interest expenses accrued) Justification: Interest expenses is an expense...

17th Edition

ISBN: 2818440096532

Author: Kieso

Publisher: WILEY

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Chapter 3, Problem 6E

To determine

To prepare: To prepare the adjusting entries for the KW Company as on January 1, 2017.

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Chapter 3, Problem 5E

Chapter 3, Problem 7E

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Chapter 3 Solutions

INTERMEDIATE ACCOUNTING WPNG MULTI-S

Ch. 3 - Prob. 1Q Ch. 3 - Prob. 2Q Ch. 3 - 3. Name the accounts debited and credited for each...Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - 6. Is it necessary that a trial balance be taken...Ch. 3 - Prob. 7Q Ch. 3 - Prob. 8Q Ch. 3 - Prob. 9Q Ch. 3 - 10. What differences are there between the trial...

Ch. 3 - Prob. 11Q Ch. 3 - 12. What are closing entries and why are they...Ch. 3 - Prob. 14Q Ch. 3 - Prob. 15Q Ch. 3 - Prob. 16Q Ch. 3 - Prob. 17Q Ch. 3 - Prob. 18Q Ch. 3 - Prob. 19Q Ch. 3 - BE3-1 (L03) Transactions for Mehta Company for the...Ch. 3 - Prob. 2BE Ch. 3 - BE3-4 (L03,4) Using the data in BE3-3, journalize...Ch. 3 - Prob. 5BE Ch. 3 - Prob. 6BE Ch. 3 - Prob. 7BE Ch. 3 - Prob. 8BE Ch. 3 - Prob. 9BE Ch. 3 - Prob. 10BE Ch. 3 - Prob. 11BE Ch. 3 - Prob. 13BE Ch. 3 - E3-1 (L03) (Transaction Analysis—Service Company)...Ch. 3 - Prob. 5E Ch. 3 - Prob. 6E Ch. 3 - Prob. 8E Ch. 3 - E3-14 (L06,7) (Closing Entries) Presented below is...Ch. 3 - Prob. 15E Ch. 3 - Prob. 17E Ch. 3 - Prob. 20E Ch. 3 - P3-1 (L03,5,6) (Transactions, Financial...Ch. 3 - Prob. 5P Ch. 3 - Prob. 9P Ch. 3 - Prob. 10P Ch. 3 - Prob. 1CRC Ch. 3 - Prob. 1IST Ch. 3 - Prob. 2IST Ch. 3 - Prob. 3IST Ch. 3 - Prob. 4IST Ch. 3 - Prob. 5IST Ch. 3 - Prob. 1ICA Ch. 3 - Prob. 2ICA Ch. 3 - Prob. 3ICA Ch. 3 - Prob. 4ICA Ch. 3 - Prob. 5ICA

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