Prepare the adjusting entries that were made

Assignment Help Corporate Finance
Reference no: EM13859212

The trial balances shown below are before and after adjustment for Bere Company at the end of its fiscal year

BERE COMPANY
Trial Balance
August 31, 2014


Before
Adjustment


After
Adjustment


Dr.

Cr.

Dr.

Cr.

Cash

$11,300


$11,300


Accounts Receivable

8,160


8,820


Supplies

2,700


1,460


Prepaid Insurance

4,300


2,830


Equipment

16,400


16,400


Accumulated Depreciation-Equipment


$ 3,280


$ 4,480

Accounts Payable


5,750


5,750

Salaries and Wages Payable


0


1,400

Unearned Rent Revenue


2,090


1,230

Common Stock


17,000


17,000

Retained Earnings


5,700


5,700

Dividends

2,800


2,800


Service Revenue


34,500


35,160

Rent Revenue


12,800


13,660

Salaries and Wages Expense

16,400


17,800


Supplies Expense

0


1,240


Rent Expense

19,060


19,060


Insurance Expense

0


1,470


Depreciation Expense

0


1,200



$81,120

$81,120

$84,380

$84,380

Prepare the adjusting entries that were made. Credit account titles are automatically indented when the amount is entered. Do not indent manually.

Reference no: EM13859212

Questions Cloud

What is the name and type business of the company that bogle : What is the name and type business of the company that Bogle founded?
What factors hinder a defense attorney : What factors hinder a defense attorney in his or her attempts to protect the rights of a criminal defendant? Think of and discuss both system factors and individual factors
What values should the company use for the four variables : What values should the company use for the four variables given here when it performs its best-case and worst-case scenario analysis?
What are the engineering strain and true strain : What is the yield strength and ultimate tensile strength of the material. What are the engineering strain and true strain when the specimen is elongated to 0.2 inches
Prepare the adjusting entries that were made : Prepare the adjusting entries that were made. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
What are the causes of human trafficking? : What are the causes of Human Trafficking? How can and should we address Human Trafficking as a society and as individuals?
Report on whether citizens for a clean future : You will prepare a 5-7 page report on whether Citizens for a Clean Future have legal standing and any other cause of action to challenge this site of the proposed smelter in the City of Norwood
Design the manufacture of ferrous sulphate monohydrate : Design the manufacture of (tones/day) Ferrous sulphate monohydrate from waste pickle liquor. Pickling is generally associated with the removal of scale with mineral acid. Sulphuric acid is the most commonly used pickling acid.
Write article on the juvenile justice system : Write a 700- to 1,050-word article on the juvenile justice system that includes the following: Definitions of delinquency and status offenses Comparison of juvenile courts and adult courts Effects of juveniles being tried as adults One current iss..

Reviews

Write a Review

Corporate Finance Questions & Answers

  1 tank industries washers expects to pay the following

1. tank industries washers expects to pay the following dividends over the next 4 years 2.50 3.20 4.75 and 5.20

  Identify the companys primary competitors

Identify the company's primary competitors. You can find this information in Yahoo! Finance under, "Competitors." Provide a comparison of several relevant factors, such as the market cap, net income and other relevant metrics.

  Find predicted maximum probable loss

Bell Curve, corporation, determines the expected rate and standard deviation of its total liability losses for forthcoming year as $10 million & $3 million respectively.

  Determine the annual end of year loan payment amount

Messineo LLC purchased 15,000 dollar at a 14 percent yearly rate of interest to be repaid over three years. The loan is amortized into 3 equal yearly end of year payments. So determine the annual end of year loan payment value.

  Development of risk control strategies

Explain the process of risk identification, risk assessment, and the development of risk control strategies in designing security for an information management system.

  What is the value of midwest pine to kc deck

From a financial manager's perspective, WHY would this merger have been a value creating proposition? In other words, why are the two firms worth more together than apart?

  The following is the balance sheet of x ltd as at 30 june

the following is the balance sheet of x ltd. as at 30 june 2010liabilitiesassetsissued sharesundry

  Png airlines is positioning itself for global expansion the

png airlines is positioning itself for global expansion. the chief executive officer of the company has asked its chief

  Calculate the net proceeds

Bought 4 round lots of stock at 24.06 per share. Broker paid 0.75% broker fee on the purchase. Sold the stock at 25.73 using discount broker who charged $28.00 per trade. Calculate the net proceeds

  Compare revenue - net income and working capital

Compare Revenue, net income, working capital, total assets for the last three years and other results of your choice of the company against the industry or main competitor. Present the table with this information in your report. Write about 1 page..

  1 what is the relationship between risk and expected

1. what is the relationship between risk and expected return?2. how much financial risk are you willing to take? by

  Overheads efficiency ratio cost reduction target - multiple

overheads efficiency ratio cost reduction target - multiple choice1.nbsp tayla industries has total budgeted fixed over

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