Data relating to the balances of various accounts affected

Assignment Help Financial Accounting

Reference no: EM13776636

Adjusting Entries: Data relating to the balances of various accounts affected by adjusting or closing entries appear below. (The entries which caused the changes in the balances are not given.) You are asked to supply the missing journal entries which would logically account for the changes in the account balances. Interest receivable at 1/1/1X was $1,000. During 201X cash received from debtors for interest on outstanding notes receivable amounted to $1,000. The 201X income statement showed interest revenue in the amount of $5,900. You are to provide the missing adjusting entry that must have been made, assuming reversing entries are not made. For each journal entry write Dr. for debit and Cr. for credit.

Reference no: EM13776636

Questions Cloud

Write a balanced equation using the correct formulas : Write a balanced equation using the correct formulas and include conditions ( s, l, g, or aq) for each of the following reactions: a. Solid calcium carbonate decomposes to produce solid calcium oxide and carbon dioxide gas. b. Nitrogen oxide gas reac..

Adjusting entries-accumulated depreciation-equipment : Adjusting Entries: Accumulated depreciation-equipment at 1/1/1X was $230,000. At 12/31/1X the balance of the account was $480,000. During 201X, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 3/4 depreciated whe..

What is fedex''s strategy for success : 1. What is FedEx'sstrategy for success in the marketplace? Does the company rely primarily on acustomer intimacy, operations excellence, or product leadership customer valueproposition? What evidence supports your conclusion?

Describe methods for determining if user frustration : Describe methods for determining if user frustration is caused by poor system design or from the natural frustration associated with learning a new software product.

Data relating to the balances of various accounts affected : Adjusting Entries: Data relating to the balances of various accounts affected by adjusting or closing entries appear below. (The entries which caused the changes in the balances are not given.) You are asked to supply the missing journal entries whic..

Housing and urban development : Visit and look at the Housing and Urban Development (HUD) website. Locate an article, document, or other material, from this site, which discusses one of the following: Home purchase

Records indicate cash receipts from rental sources : Adjusting Entries: Unearned rent at 1/1/1X was $5,000 and at 12/31/1X was $8,000. The records indicate cash receipts from rental sources during 201X amounted to $40,000, all of which was credited to the Unearned Rent Account. You are to prepare the m..

How attitudes are formed and influenced : Write a 500-600 word discussion on how attitudes are formed and influenced. Describe how individuals and group behaviours are affected by the society. Explain the three main components of attitudes and how they are affected through persuassion, co..

Business research methods and tools : A & B: What are the most prudent decisions she can make about her responsibilities to herself and others? What are the implications of those decisions even if there is no violation of law or regulation?

User Account

All Pages