Business, 16.06.2020 17:57 luzbalais3260

On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty: • The supplies account balance on December 31 is $1,375. The supplies on hand on December 31 are $280.
• The unearned rent account balance on December 31 is $9,000 representing the receipt of an advance payment on December 1 of four months’ rent from tenants.
• Wages accrued but not paid at December 31 are $3,220.
• Fees earned but unbilled at December 31 are $18,750.
• Depreciation of office equipment is $2,900.
Required:
1. Journalize the adjusting entries required at December 31. Refer to the Chart of Accounts for exact wording of account titles.
2. What is the difference between adjusting entries and correcting entries?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 14:00

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?

Answers: 1

Answer

Business, 22.06.2019 19:30

The usa today reports that the average expenditure on valentine's day is $100.89. do male and female consumers differ in the amounts they spend? the average expenditure in a sample survey of 47 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. based on past surveys, the standard deviation for male consumers is assumed to be $34, and the standard deviation for female consumers is assumed to be $17.

Answers: 1

Answer

Business, 22.06.2019 20:00

If an investment has 35 percent more nondiversifiable risk than the market portfolio, its beta will be:

Answers: 1

Answer

Business, 22.06.2019 20:50

Which of the statements best describes why the aggregate demand curve is downward sloping? an increase in the aggregate price level causes consumer and investment spending to fall, because consumer purchasing power decreases and money demand increases. as the aggregate price level increases, consumer expectations about the future change. as the aggregate price level decreases, the stock of existing physical capital increases. as a good's price increases, holding all else constant, the good's quantity demanded decreases.

Answers: 2

Answer

You know the right answer?

On December 31, the following data were accumulated for preparing the adjusting entries for Bellingh...

Questions