Business, 28.01.2020 07:31, regalc731ost238
The following transactions occurred during december 31, 2021, for the falwell company. 1. a three-year fire insurance policy was purchased on july 1, 2021, for $12,240. the company debited insurance expense for the entire amount. 2. depreciation on equipment totaled $12,250 for the year. 3. employee salaries of $16,500 for the month of december will be paid in early january 2022. 4. on november 1, 2021, the company borrowed $190,000 from a bank. the note requires principal and interest at 12% to be paid on april 30, 2022. 5. on december 1, 2021, the company received $6,000 in cash from another company that is renting office space in falwell's building. the payment, representing rent for december, january, and february was credited to deferred rent revenue. 6. on december 1, 2021, the company received $6,000 in cash from another company that is renting office space in falwell's building. the payment, representing rent for december, january, and february was credited to rent revenue rather than deferred rent revenue for $6,000 on december 1, 2021. prepare the necessary adjusting entries for each of the above situations. assume that no financial statements were prepared during the year and no adjusting entries were recorded. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
Answers: 3
Business, 23.06.2019 00:00, zhellyyyyy
The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:
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Business, 23.06.2019 02:00, rohan13
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Business, 23.06.2019 17:20, gunnatvinson
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The following transactions occurred during december 31, 2021, for the falwell company. 1. a three-ye...
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