Complete the adjustments and the adjusted trial balance

Assignment Help Accounting Basics
Reference no: EM133021757

Question - Salmon Fisheries is owned by Matthew Kulak and provides fish products to the fishing industry. At the end of March 2019, they had the following adjustments.

Mar 31 Interest of $380 had accrued on the bank loan.

Mar 31 The balance of prepaid rent is for a 5-month lease, one month of rent has been used.

Mar 31 During March, Salmon Fisheries earned $940 of unearned revenue.

Mar 31 The computers were purchased on March 1, 2019 and have an expected useful life of five years, after which they will have no residual value. Record depreciation for March

Required - Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet.

Reference no: EM133021757

Questions Cloud

Compute the vacation pay expense and liability shall be : If the benefits were NONaccumulating and NONvesting, compute the vacation pay expense and liability shall be
Determine the classification of the lease : Included in the lease payment is $3,000 for insurance and maintenance costs. Determine the classification of the lease
Determine the operating cash flow for MAZ Computer Ltd : The company would have to invest JOD 2,000,000 in inventory beginning today, Determine the operating cash flow for MAZ Computer Ltd
Prepare cost statements in good form to show production cost : The following data relates to Nyasuguta Ltd for the period ended 30th June, 2017. Prepare cost statements in good form to show production cost
Complete the adjustments and the adjusted trial balance : Salmon Fisheries is owned by Matthew Kulak and provides fish products to the fishing industry. Complete the adjustments and the adjusted trial balance
Development of international humanitarian law : Understanding of the development of international humanitarian law - Present your approach to the subject matter and introduce the focus of your paper
Define these three standards of comparison : Comparative analysis may be made on a number of different bases 1) Intracompany Basis. Define these three standards of comparison
How many units must be produced during the month : If the company has 16,000 units on hand at the start of the month, and plans to have 17,000 units. How many units must be produced during the month
Discuss the origin and evolution of money : Discuss the origin and evolution of money in the Sultanate of Oman. On this topic, you are required to discuss the different stages in the evolution of money

Reviews

Write a Review

Accounting Basics Questions & Answers

  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?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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