Concept explainers
Exercise 4.16A
Preparing reversing entries
P4
Hawk Company records prepaid assets and unearned revenues in
a. The company has earned $6,000 in service fees that were not yet recorded at period-end.
b. The expired portion of prepaid insurance is $3,700.
C. The company has earned $2,900 of its Unearned Service Fees account balance.
d.
e. Employees have earned but have not been paid salaries of $3,400.
Prepare any necessary reversing entries for the accounting adjustments a through e assuming that the company uses reversing entries in its accounting system.

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Chapter 4 Solutions
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- Financial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,
