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Affleck Company accumulates the following adjustment data at December 31.
1. Services provided but not recorded total $750.
2. Store supplies of $300 have been used.
3. Utility expenses of $225 are unpaid.
4. Unearned revenue of $260 has been earned.
5. Salaries of $900 are unpaid.
6. Prepaid insurance totaling $350 has expired.
Instructions
For each of the above items indicate the following.
(a) The type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).
(b) The status of accounts before adjustment (overstatement or understatement).
Soft Cushion Company (SCC) is highly decentralized. Each division is empowered to make its own sales decisions. The Assembly Division can purchase a key component-stuffing-from the Production Division or from external suppliers.
The job cost sheet for Job shows that $23,264 in direct materials has been used on the job and that $10,200 in direct labor cost has been incurred. A total of 1,300 units were produced in Job 313. What is the total manufactoring cost?
woodmier lawn products introduced a new line of commercial sprinklers in 2008 that carry a one-year warranty against
A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800.
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Determine the allocation of income for each of these three years and prepare in appropriate form a statement of partners' capital for the year ending December 31, 2013.
Prepare the journal entries to record the mortgage loan and the first two installment payments.
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