Reference no: EM132478433
You have the following data from the unadjusted and the adjusted trial balances for Mallard Corporation.
Account Unadjusted Trial Balance Adjusted Trial Balance
Prepaid rent A $29,000 (80) $28,200
Prepaid insurance 14,900 500 15,400
Accumulated depreciation ( 113,500 2,200 115,700
Salaries payable ( 21,000 200 21,800
Unearned revenues 1,900 ( 70 0 ) 1,200
Fees earned ( 87,600 700 88,300
Rent expense A 6,400 800 7,200
Insurance expense 5,500 ( 500) 5,000
Depreciation expense 2200 2,200
Salary expense b 3,900 800
4,700
REQUIRED:
Question 1: Prepare the adjusting journal entries that were made to produce the adjusted balances. You may omit explanations for the entries and dates. (Hint: There are a total of 5 adjusting entries that are necessary.)
|
Calculating COGS under a Periodic Inventory System
: Problem - Calculating COGS under a Periodic Inventory System. A physical count of inventory was done at year-end, resulting in $239,000 in inventory
|
|
Calculate the net increase or decrease in cash
: Investing activities of $33,000, and cash outflows from financing activities of $23,000. Calculate the net increase or decrease in cash.
|
|
How present worth of a stand alone project is equal to zero
: If the present worth of a stand alone project is equal to zero, then all the below are correct statements, EXCEPT: The projects future value worth
|
|
Calculate the costs using activity-based costing
: Calculate the costs using activity-based costing. Allocate the costs of testing, computing, and development based on the rates of activity consumed
|
|
Prepare adjusting journal entries that were made to produce
: Prepare the adjusting journal entries that were made to produce the adjusted balances. You may omit explanations for the entries and dates
|
|
Why is understanding roe and eps important
: Why is understanding ROE and EPS important to a company's value?
|
|
Determine maximum profit-maximum loss
: Also, determine maximum profit, maximum loss, and the breakeven price.
|
|
Hedge against any unfavourable exchange rate movements
: Which of the following is the optimal strategy by Sherbert Freehills to hedge against any unfavourable exchange rate movements?
|
|
What is the current value of bonds
: The bonds mature in 7.5 years and pay interest semiannually. What is the current value of each of these bonds if the yield to maturity is 5.0 percent?
|