FINANCIAL & MANAGERIAL ACCW/CENGAGENOWV
15th Edition
ISBN: 9781337955423
Author: WARREN, JONES
Publisher: CENGAGE L
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Question
Chapter 3, Problem 8DQ
To determine
Explain whether the adjusting entry affects the net income or not.
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Please give me correct answer this financial accounting question
Assume a federal agency has the following events:
Receives a warrant from the Treasury notifying the agency of appropriations of $5,350,000.
OMB apportions one-fourth of the appropriation for the first quarter of the year.
The director of the agency allots $1,202,000 to program units.
Program units place orders of $865,000.
Supplies ($141,500) and services ($582,500) are received during the first quarter. Supplies of $130,000 were used in the quarter. Accounts payable were paid in full.
Required:
Prepare a schedule showing the status of the appropriation at the end of the first quarter.
What is the payable deferral period on these financial accounting question?
Chapter 3 Solutions
FINANCIAL & MANAGERIAL ACCW/CENGAGENOWV
Ch. 3 - How are revenues and expenses reported on the...Ch. 3 - Is the matching concept related to (A) the cash...Ch. 3 - Why are adjusting entries needed at the end of an...Ch. 3 - What is the difference between adjusting entries...Ch. 3 - Identify the four different categories of...Ch. 3 - If the effect of the debit portion of an adjusting...Ch. 3 - If the effect of the credit portion of an...Ch. 3 - Prob. 8DQCh. 3 - Prob. 9DQCh. 3 - (A) Explain the purpose of the two accounts:...
Ch. 3 - Accounts requiring adjustment Indicate with a Yes...Ch. 3 - Prob. 2BECh. 3 - Adjustment for accrued revenues At the end of the...Ch. 3 - Prob. 4BECh. 3 - Adjustment for unearned revenue On June 1, 20Y2,...Ch. 3 - Adjustment for prepaid expense The prepaid...Ch. 3 - Adjustment for depreciation The estimated amount...Ch. 3 - Effect of omitting adjustments For the year ending...Ch. 3 - Effect of errors on adjusted trial balance For...Ch. 3 - Prob. 10BECh. 3 - Prob. 1ECh. 3 - Classifying adjusting entries The following...Ch. 3 - Adjusting entry for accrued fees At the end of the...Ch. 3 - Effect of omitting adjusting entry Paradise Realty...Ch. 3 - Adjusting entries for accrued salaries Paradise...Ch. 3 - Determining wages paid The wages payable and wages...Ch. 3 - Effect of omitting adjusting entry Accrued...Ch. 3 - Effect of omitting adjusting entry When preparing...Ch. 3 - Adjusting entries for unearned fees The balance in...Ch. 3 - Effect of omitting adjusting entry At the end of...Ch. 3 - Adjusting entry for supplies The balance in the...Ch. 3 - Determining supplies purchased The supplies and...Ch. 3 - Effect of omitting adjusting entry At March 31,...Ch. 3 - Adjusting entries for prepaid insurance The...Ch. 3 - Adjusting entries for prepaid insurance The...Ch. 3 - Adjusting entries for unearned and accrued fees...Ch. 3 - Adjusting entries for prepaid and accrued taxes...Ch. 3 - Adjustment for depreciation The estimated amount...Ch. 3 - Determining fixed assets book value The balance in...Ch. 3 - Prob. 20ECh. 3 - Effects of errors on financial statements For a...Ch. 3 - Effects of errors on financial statements For a...Ch. 3 - Effects of errors on financial statements The...Ch. 3 - Prob. 24ECh. 3 - Prob. 25ECh. 3 - Adjusting entries from trial balances The...Ch. 3 - Adjusting entries from trial balances The...Ch. 3 - Adjusting entries On March 31, the following data...Ch. 3 - Adjusting entries Selected account balances before...Ch. 3 - Adjusting entries Trident Repairs Service, an...Ch. 3 - Adjusting entries Good Note Company specializes in...Ch. 3 - Adjusting entries and adjusted trial balances...Ch. 3 - Prob. 6PACh. 3 - Adjusting entries On May 31, the following data...Ch. 3 - Adjusting entries Selected account balances before...Ch. 3 - Prob. 3PBCh. 3 - Adjusting entries The Signage Company specializes...Ch. 3 - Adjusting entries and adjusted trial balances...Ch. 3 - Adjusting entries and errors At the end of August,...Ch. 3 - The unadjusted trial balance that you prepared for...Ch. 3 - Analyze Amazon.com Amazon.com, Inc. (AMZN) is the...Ch. 3 - Prob. 2MADCh. 3 - Prob. 3MADCh. 3 - Analyze Chipotle Mexican Grill Chipotle Mexican...Ch. 3 - Analyze Nike The following data are taken from...Ch. 3 - Prob. 6MADCh. 3 - Ethics in Action Chris P. Bacon is the chief...Ch. 3 - Prob. 2TIFCh. 3 - Prob. 4TIFCh. 3 - Prob. 5TIF
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