User Account

All Pages

What adjusting entry should be made by otisco

Assignment Help Accounting Basics
Reference no: EM132194016

Question - On April 1, Otisco, Inc. paid Garcia Publishing Company $1,548 for 36-month subscriptions to several different magazines. Otisco debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What adjusting entry should be made by Otisco, Inc. for the adjustment on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustments had been made?

Reference no: EM132194016

Questions Cloud

Implement your asset identification and monitoring strategy : SITXFIN005 Manage physical assets - develop an asset management strategy to ensure streamlined acquisition and management
Examples of conflict with collective bargaining : Please give some examples of conflict with "collective bargaining" in the public sector of unions?
What is activity-based costing and what is its goal : What is the difference between operating departments and service departments? What is activity-based costing? What is its goal
Why are these data elements important : List the seven broad categories of patient data that are collected. Why are these data elements important?
What adjusting entry should be made by otisco : What adjusting entry should be made by Otisco, Inc. for the adjustment on December 31 of the first year
What was the amount recorded in the cost : On November 8, it sold 12 units for $54 each. Using the perpetual LIFO inventory method, what was the amount recorded in the cost of goods sold account
Explain what the mineral is used for : Discuss one method of how this mineral resource could be used more sustainably and support your discussion with at least one example.
Is the use of social media at work an employee right : HR professionals are discovering the value of using Facebook, Linked In, and other social media for recruiting. Other areas in organizations such as sales.
Calculate the entry to record the customer warranty repairs : Customers returned merchandise for warranty repairs during the month that used $9,400 in parts for repairs. Calculate the entry to record the customer warranty

Reviews

Write a Review

Accounting Basics Questions & Answers

  Manufacturing overhead was estimated to be 484800 for the

manufacturing overhead was estimated to be 484800 for the year along with 20200 direct labor hours. actual

  Calculate the budgeted manufacturing cost per unit assume

ravenna manufacturing is preparing its master budget for the first quarter of the upcoming year the following data

  What is the income reported by regal

Air reported net income of $75,000 and paid dividends of $30,000. What is the income reported by Regal during 2012 pertaining to the Air investment

  Do the following events represent business transactions

Do the following events represent business transactions? Explain your answer in each case.

  Compute its operating and cash conversion cycle in each

given robinsons 2010 and 2011 financial information presented in problems 2 and 4a. compute its operating and cash

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Company and research the ethics of the company

1. Select a company and research the ethics of the company and the industry that it belongs to.

  Journalize and post the july transactions

Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. Journalize and post the July transactions. Use page J1 for the journal

  A process with no beginning work in process completed and

a process with no beginning work in process completed and transferred out 28000 units during a period and had 14000

  On january 1 tellier corporation had 62100 shares of no-par

on january 1 tellier corporation had 62100 shares of no-par common stock issued and outstanding. the stock has a stated

  How will the corporation identify the distribution to george

The corporation has $15800 in current earnings and profits for the year. How will the corporation identify the distribution to George and Bennie

  Compute the internal conversion price indexes

Compute the internal conversion price indexes for 2017 and 2018

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd