The balance in the unearned rental account for Jones Co. As of December 31 is $1,200. If Jones Co. Failed to record the adjusting entry for $600 of rental earned throughout December, the impact on the balance sheet and also income statement because that December would certainly be...a. Heritage understated $600; net revenue overstated $600b. Legal responsibility understated $600; net income understated $600c. Liabilities overstated $600; net revenue understated $600d. Liabilities exaggeration $600; net revenue overstated $600
If the gives account before adjustment on may 31, shown a balance that $2,250, and supplies top top hand at may 31 totaled $950, the adjusting entry would be:a. Debit offers $950; credit transaction Supplies expense $950b. Debit offers $1,300; credit transaction Supplies price $1,300c. Debit Supplies expense $950; credit supplies $950d. Debit Supplies cost $1,300; credit gives $1,300
If the approximated amount of depreciation on devices for a duration is $2,000, the adjusting entry to record depreciation would be:a. Debit Depreciation cost $2,000; credit tools $2,000b. Debit tools $2,000; credit Depreciation expense $2,000c. Debit Depreciation price $2,000; credit collected Depreciation $2,000d. Debit accumulated Depreciation $2,000; credit Depreciation price $2,000
If the tools account has actually a balance that $22,500 and its accumulated depreciation account has actually a balance the $14,000, the book value the the tools is:a. $36,500b. $22,500c. $14,000d. $8,500
If the adjusting entry for accrued salaries of $7,500 was omitted, the adjusted trial balance totals would be:a. Unequal, the debit complete would exceed the credit transaction by $7,500b. Unequal, the debit complete would exceed the credit transaction by $15,000c. Unequal, the credit full would exceed the credit total by $7,500d. Equal, suspect no other errors or omissions
At the end of the year $23,570 of fees have been earned however haven"t to be billed come clients. Journalize the adjusting entrance to document the accrued fees.
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We-Sell Realty payment weekly salaries of $11,800 on Friday for a five-day occupational week ending on the day. Journalize the crucial adjusting entry in ~ the end of the accounting period, assuming the the duration ends top top Wednesday.
The balance of the unearned fees account, prior to adjustment at the end of the year, is $272,500. Journalize the adjusting entry required, assuming the lot of unearned fees in ~ the end of the year is $189,750.
The provides account had a start balance the $3,375 and was debited because that $6,450 for provides purchased throughout the year. Journalize the adjusting entry forced at the end of the year, presume the amount of supplies on hand is $2,980.
The estimated amount that depreciation on equipment for the existing year is $6,880. Journalize the adjusting entry to document depreciation.
See more: Schedule Of Accounts Payable 1, Solved: What Is A Schedule Of Accounts Payable
For the year finishing August 31, Medical agency mistakenly skip adjusting entries because that (1) depreciation of $5,800, (2) fees earned the were not billed of $44,500, and (3) accrued incomes of $7,300. Indicated the merged effect of the errors on (A) revenues, (B) expenses, and also (3) net income for the year finished August 31.
A. Revenues were understated by $44,500B. Prices were understated by $13,100C. Net earnings was understated by $31,400
Bundle: Intermediate bookkeeping 16e Binder ready Version + WileyPLUS accessibility Code16th EditionDonald E. Kieso, Jerry J. Weygandt, terry D. Warfield
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