Journalize the adjusting entries and label them as accruals

Assignment Help Finance Basics
Reference no: EM13484205 , Length: 10

Journalize the adjusting entries and label them as accruals or deferrals, adding accounts as needed.

a. Unexpired insurance at December 31

$1,500

b. Supplies on hand at December 31

$400

c. Depreciation of building for the year

$1,750

d. Depreciation of equipment for the year

$5,800

e. Revenue unearned at December 31

$2,000

f. Accrued salaries and wages at December 31

$2,300

g. Fees earned but unbilled on December 31

$4,850

Forever Green Lawn Care, Inc. Trial Balance December 31, 20--

Cash

8,700


Accounts Receivable

20,600


Prepaid Insurance

4,400


Supplies

1,950


Land

45,000


Building

134,500


Accumulated

Depreciation-Bldg


86,700

Equipment

80,100


Accumulated

Depreciation-Equip.


61,300

Accounts Payable


7,500

Unearned Revenue


6,000

Capital Stock


15,300

Retained Earnings


54,000

Dividends

8,000


Fees Earned


199,400

Salaries and Wages

Expense

70,200


Utilities Expense

23,200


Advertising Expense

18,000


Repairs Expense

11,500


Miscellaneous Expense

4,050


Totals

430,200

430,200

Reference no: EM13484205

Questions Cloud

Portfolio theory as described by markowitz is most : portfolio theory as described by markowitz is most concerned witha. the elimination of systematic risk.b. the effect of
Determine the correct amounts for net income total assets : at the end of october the first month of operations the following selected data were taken from the financial
Clean laboratories produces biodegradable liquid detergents : clean laboratories produces biodegradable liquid detergents that leave no soap film.the production process has been
Te risk-reducing benefits of diversification do not occur : which statement about portfolio diversification is correct?a. proper diversification can reduce or eliminate systematic
Journalize the adjusting entries and label them as accruals : journalize the adjusting entries and label them as accruals or deferrals adding accounts as needed.a. unexpired
Trevor price bought 10-year bonds issued by harvest foods : trevor price bought 10-year bonds issued by harvest foods five years ago for 950.97. the bonds make semiannual coupon
What are the expected returns for stocks x and : what are the expected returns for stocks x and y?nbspstock xstock y 185
The firms net capital spending for 2014 was 1030000 and the : the december 31 2013 balance sheet of schism inc. showed long-term debt of 1435000 147000 in the common stock account
During a period of severe inflation a bond offered a : during a period of severe inflation a bond offered a nominal hpr of 80 per year. the inflation rate was 70 per year.a.

Reviews

Write a Review

Finance Basics Questions & Answers

  What does the beta of the second stock have

You would like to create a portfolio that is equally invested in a risk-free asset and two stocks. One stock has a beta of 1.93. What does the beta of the second stock have to be if you want the portfolio to have a beta of 0.61?

  Determine using the internal rates of return criterion

Automated Welding Services, Inc. (AWS) business has been growing and they need to raise their automation to the next level. They have collected data on five alternative machines/processes for which the data is shown below. Only a single alternativ..

  Find the current share price

Baruk Industries has no cash and a debt obligation of $36 million that is now due. The market price of Baruk's assets is $81 million, and the company has no other liabilities.

  Calculate christie cash conversion cycle

suppose Christie's managers believe the annual inventory turnover can be raised to 9 times without affecting sales. What would Christie's cash conversion cycle, total assets turnover, and ROA have been if the inventory turnover had been 9 for the ..

  What is the value of an investment

What is the value today if the first payment occurs four years from today? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

  Computation of arbitrage opportunity

Computation of arbitrage opportunity and how much would you make on the arbitrage

  How much is the bond worth today

If the going interest rate on these bonds is 3.5% (compounded annually), how much is the bond worth today?

  Determine using the internal rates of return criterion

Determine using the internal rates of return criterion with an incremental analysis which will offer the largest monetary benefit to AWS if their MARR is 12%.

  What coupon rate should the company set

What coupon rate should the company set on its new bonds if it wants them to sell at par?

  What is the stock value per share

What is the stock's value per share? Round your answer to two decimal places.

  If reserve requirements on checkable deposits were set at

a if reserve requirements on checkable deposits were set at zero the amount of multiple deposit expansion would go on

  What is the adjusted present value

What is the maximum price that the company should be willing to pay for the new fleet of cars if it remains an all-equity company? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

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