ACC 291 Week 4 Apply: Connect Assignment | eBooks | Education

ACC 291 Week 4 Apply: Connect Assignment

ACC 291 Week 4 Apply: Connect Assignment PLDZ-7944
In Stock
$ 9.99 USD
UopTutorialStore
Buy and Download   > Description

ACC 291 Week 4 Apply: Connect Assignment 

https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM

 

ACC 291 Week 4 Apply: Connect Assignment

 

1

a.-b. Merchandise Inventory, before adjustment, has a balance of $6,600. The newly counted inventory balance is $7,100.

 

 

 

    1. Unearned Seminar Fees has a balance of $5,100, representing prepayment by customers for five seminars to be conducted in June, July, and August 2019. Two seminars had been conducted by June 30, 2019.

 

 

    1. Prepaid Insurance has a balance of $6,600 for six months’ insurance paid in advance on May 1, 2019.

 

 

    1. Store equipment costing $12,890 was purchased on March 31, 2019. It has a salvage value of $410 and a useful life of four years.

 

 

    1. Employees have earned $160 that has not been paid at June 30, 2019.

 

 

    1. The employer owes the following taxes on wages not paid at June 30, 2019: SUTA, $4.80; FUTA, $0.96; Medicare, $2.32; and social security, $9.92.

 

 

    1. Management estimates uncollectible accounts expense at 1 percent of sales. This year’s sales were $1,100,000.

 

 

    1. Prepaid Rent has a balance of $5,250 for six months’ rent paid in advance on March 1, 2019.

 

 

    1. The Supplies account in the general ledger has a balance of $310. A count of supplies on hand at June 30, 2019, indicated $105 of supplies remain.

 

 

    1. The company borrowed $13,700 from First Bank on June 1, 2019, and issued a four-month note. The note bears interest at 12 percent.

 

 

 

Required:

Based on the information above, record the adjusting journal entries that must be made for Sufen Consulting on June 30, 2019. The company has a June 30 fiscal year-end.

Analyze:

After all adjusting entries have been journalized and posted, what is the balance of the Prepaid Rent account?

 

 

 

ACC 291 Week 4 Apply: Connect Assignment https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM ACC 291 Week 4 Apply: Connect Assignment 1 a.-b. Merchandise Inventory, before adjustment, has a balance of $6,600. The newly coun
Recent Reviews Write a Review
0 0 0 0 reviews