Saturday, December 5, 2009

Adjusting Entires HELP?

how would i adjust the folowwing...



a) The estimated yearly amortization on the equipment is $550.



(b) Services performed but unrecorded at the end of the year totalled $10,000.



(c) $4,300 of property taxes have accrued and are unrecorded.



(d) $3,600 of the $5,600 consulting fees paid to Capital Consultants in advance has not yet been earned.



(e) Capital Consultants purchased a building in a previous year for $73,000 and plans to sell this building for $12,250 at the end of its ten-year useful life.



(f) A review of the $1,700 unadjusted balance in the supplies account shows a balance on hand at the end of the year of $1,150.



(g) Interest of $260 on notes receivable is unrecorded and unpaid.



(h) Capital Consultants rents part of its building for a monthly fee of $3,750. The rent for the month just past has not been received.



Adjusting Entires HELP?opera.com



a)



dr amortization expense 550.



cr accumulated amortization 550.



b)



dr accounts receivable 10,000.



cr fees earned 10,000.



c)



dr property tax expense 4,300.



cr property tax payable 4,300.



d)



dr unearned consulting fees 2,000.



cr consulting fees 2,000.



f)



dr supplies expense 550.



cr supplies 550.



The others, I already answered.



Adjusting Entires HELP?amc theatre opera theater



amortization expense



accumulated amortization



accounts receivable



service revenue



property taxes



accrued expenses



Service revenue



unearned revenue



you can do the rest, good luck!

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