Check out some similar questions!

dset123 · Feb 8, 2010, 01:41 PM

I have a bunch of adjusting entries I'd like to check.
1. Fees received in advance from clients $6,900.
2. Services performed for clients that were not recorded by December 31,$4,900.
3. Bad debt expense for the year is $1,430.
4. Insurance expired during the year $480.
5. Furniture and equipment is being depreciated at 12.5% per year.
6. Carlos Beltran gave the bank a 90-day, 10% note for $7,200 on December 1, 2007.
7. Rent of the building is $750 per month. The rent for 2007 has been paid, as has that for January 2008.
8. Office Salaries earned but unpaid December 31, 2007,$2,510

leehana249 · Feb 8, 2010, 09:16 PM

Dr Cash 6,900
Cr Unearned Revenue 6,900

Dr AR 4,900
Cr Service Revenue 4,900

Dr Bad Debts Expense 1,430
Cr Allowance for Bad Debts 1,430

Dr Insurance Expense 480
Cr Prepaid Insurance 480

Dr Depreciated expense (12.5% x value of Furniture and Equipment)...
Cr Accumulated Depreciation...

For question 6: I need the head-information (who is Carlos Beltran, is this question means Beltran lends bank money or borrows money from bank ?)

For question 7 : I need information : how much is the prepaid rent ?

Dr Salaries Expense 2,510
Cr Salaries Payable 2,510

hope this help !

morgaine300 · Feb 11, 2010, 01:28 AM

Both of you, please see the guidelines for posting homework problems:
https://www.askmehelpdesk.com/financ...-b-u-font.html

This goes for the people posting answers as well.

Dr Cash 6,900
Cr Unearned Revenue 6,900

Incorrect. Adjusting entries don't involve cash, and this adjusting entry is not about the receipt of the cash.

For question 6: I need the head-information (who is Carlos Beltran, is this question means Beltran lends bank money or borrows money from bank ?)

"Gave a note to the bank" is clear.

For question 7 : I need information : how much is the prepaid rent ?

Actually, what is needed is WHEN these entries are being done -- i.e. what month or what year.

hope this help !

Part of the point of our guidelines about homework is because just giving the answers generally does not help. It doesn't help them to learn or understand it, usually. Especially with no explanation attached.

Sure, it helps them get a grade on homework, but just getting answers for it is unethical, which is the other point of the guidelines. This site does not condone people coming here just to get their homework done for them.