Questions from Financial Accounting

Q: At December 31, the unadjusted trial balance of H&R

At December 31, the unadjusted trial balance of H&R Tacks reports Deferred Revenue of $5,000 and Service Revenues of $33,800. Obligations for one-half of the deferred revenue have been fulfilled as of...

Q: What two different accounting equalities must be maintained in transaction analysis and

What two different accounting equalities must be maintained in transaction analysis and recording?v

Q: At December 31, the unadjusted trial balance of H&R

At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $20,000. Employees have been paid for work done up to December 27,...

Q: At December 31, the unadjusted trial balance of H&R

At December 31, the unadjusted trial balance of H&R Tacks reports Interest Payable of $0 and Interest Expense of $0. Interest incurred and owed in December totals $500. Prepare the adjusting journal e...

Q: At December 31, the unadjusted trial balance of H&R

At December 31, the unadjusted trial balance of H&R Tacks reports Software of $25,000 and zero balances in Accumulated Amortization and Amortization Expense. Amortization for the period is estimated t...

Q: The adjusted trial balance for PI Detectives reported the following account balances

The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $500; Supplies $9,000; Prepaid Insurance $7,200; Equipment $28,000; Accumulated Depreciation $...

Q: Midwest Manufacturing purchased a three-year insurance policy for $30

Midwest Manufacturing purchased a three-year insurance policy for $30,000 on January 2, 2018. Prepare any journal entries, adjusting journal entries, and closing journal entries required on January 2,...

Q: Match each transaction with the type of adjustment that will be required

Match each transaction with the type of adjustment that will be required, by entering the appropriate letter in the space provided.

Q: Using the information in M4-3, prepare the adjusting journal

Using the information in M4-3, prepare the adjusting journal entries required. Data from M4-3: Match each transaction with the type of adjustment that will be required, by entering the appropriate le...

Q: For each of the following transactions for the Sky Blue Corporation,

For each of the following transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at the end of the month on October 31: a. Collected $2,400 rent f...