subject
Business, 12.10.2021 14:00 Ltik11900

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: November 30
Debit Credit
Supplies $2,000
Prepaid Insurance 8,000
Salaries Payable $11,000
Deferred Revenue 3,000

The following information is known for the month of December:

1. Purchases of supplies during December total $4,500.
2. Supplies on hand at the end of December equal $3,500.
3. No insurance payments are made in December. Insurance cost is $2,000 per month.
4. November salaries payable of $11,000 were paid to employees in December. Additional salaries for December owed at the end of the year are $16,000.
5. On November 1, a tenant paid Golden Eagle $4,500 in advance rent for the period November through January ($1,500 per month), and Deferred Revenue was credited for the entire amount.

Required:
Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 10:00
In a chapter 7 bankruptcy, a debtor:
Answers: 2
question
Business, 22.06.2019 17:10
Calculate riverside’s financial ratios for 2014. assume that riverside had $1,000,000 in lease payments and $1,400,000 in debt principal repayments in 2014. (hint: use the book discussion to identify the applicable ratios.)
Answers: 3
question
Business, 22.06.2019 18:30
You should typically prepare at least questions for the people who will host you during a job shadow. a. 3 b. 4 c. 5 d. 2
Answers: 1
question
Business, 22.06.2019 19:10
Do it! review 16-3 the assembly department for right pens has the following production data for the current month. beginning work in process units transferred out ending work in process 0 22,500 16,000 materials are entered at the beginning of the process. the ending work in process units are 70% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs. materials conversion costs the equivalent units of production
Answers: 2
You know the right answer?
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted tr...
Questions
question
Mathematics, 22.05.2021 01:50
question
Chemistry, 22.05.2021 01:50
question
Geography, 22.05.2021 01:50
question
Mathematics, 22.05.2021 01:50
Questions on the website: 13722362