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    yielwi's Avatar
    yielwi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 5, 2016, 10:00 AM
    Cash Basis to Accrual
    Objective: The adjustment necessary to convert the Trial balance from Cash basis to Accrual as of December 31, year 2.

    Transaction: On May 1, year 2, Company X paid $8,700 to renew its comprehensive insurance coverage for one year. The premium on the previous policy, which expired on April 30, year 2, was $7,800.

    Question: What are the adjustments necessary for the above transaction (from cash basis to accrual)? And What accounts will be affect?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Sep 5, 2016, 10:22 AM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
    		  
    #3

    Sep 5, 2016, 06:41 PM
    Please read about posting homework first!
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