Reference no: EM132864155
Question - An accountant made the following adjustments at December 31, the end of the accounting period:
a. Prepaid insurance, beginning, $700. Payments for insurance during the period, $2,100. Prepaid insurance, ending, $800.
b. Interest revenue accrued, $900.
c. Unearned service revenue, beginning, $800. Unearned service revenue, ending, $300.
d. Depreciation, $6,200.
e. Employees' salaries owed for three days of a five-day work week; weekly payroll, $9,000.
f. Income before income tax expense, $20,000. Income tax rate is 25%.
Requirements -
1. Journalize the adjusting entries.
2. If the accountant was biased to report a better operating performance for the period than actually occurred, which of the preceding adjustments would he have not made and why? Would it have been ethical for him?
|
What is the average number of extension lines
: What is the average number of extension lines that will be busy if your recommendation in part (a) is used? Round your answer to four decimal places
|
|
Research the process required to make doughnuts
: You are considering opening a small doughnut shop in your hometown. Research the process required to make doughnuts.
|
|
Question on product-branding and packaging
: Packaging can serve many purposes such as protecting a product, providing information about the product, and motivating your purchase.
|
|
How to use directive control approach
: Discuss how to assess how to use directive control approach and provide an example of an appropriate situation
|
|
Journalize the adjusting entries
: Prepaid insurance, beginning, $700. Payments for insurance during the period, $2,100. Prepaid insurance, ending, $800. Journalize the adjusting entries
|
|
What are pricing advantages in contracting with government
: Determine which major concern you believe is the most important to address. What are some pricing advantages in contracting with the government
|
|
How jv would be benefitting consumers
: Make sure that your ad is factual and encouraging in order to attract further interest.
|
|
Relationships involving long-term social obligations-favors
: Guanxi is a system of personal relationships involving long-term social obligations and favors, which is instrumental for doing business in China.
|
|
How he pressured staff to cook the books
: Exploring the context of the corporate culture at WorldCom, explain the philosophy of CEO Bernie Ebbers and how he pressured staff to cook the books.
|