Ask Experts Questions for FREE Help !
Ask
    dbte47's Avatar
    dbte47 Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Oct 2, 2007, 10:13 AM
    How do you journalize this entry?
    Rent owed on the copy shop for the month of September was $600 but will not be paid until October. Would I journalize it under accounts payable dr and rent payabel cr.
    belindahealey's Avatar
    belindahealey Posts: 1, Reputation: 1
    New Member
    		  
    #2

    Oct 2, 2007, 10:17 AM
    This is a question that I have in class... Action Games has the followint information available regarding accruals that must be recorded for the year ended December 31st.
    1. The December utility bill for $420 was unrecorded on December 31. Action Quest paid the bill on January 17th, 2006.
    2. Action Quest is ipen seven days a week and employees are paid a total of $3,360 every Thursday. December 31, 2005, is a Saturday so employees will have worked two-days... and so on...

    For each of the above, prepare the adjusting entry required at December 31st, 2005.
    For each of the above, prepare the journal entry to record the subsequent cash transaction in 2006. Assume all payments and receipts are made as indicated.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Journalize this [ 2 Answers ]

Acquired building ; the cost $200,000 ; with estimated life 40 years. It will be depreciated over 40 years using straight line depreciation. Salvage value $20,000. How do I journalize this? I have Cash $200,000 Building $200,000 ...

How does an eliminating entry differ from an adjusting entry [ 2 Answers ]

How does an eliminating entry differ from an adjusting entry

Journalize the following? [ 2 Answers ]

Purchased salon equipment on account for $6000(useful life of 5 years).

How do you journalize this? [ 3 Answers ]

A company rented a front-end loader to Landscrapers, Inc at a $250 per day rate. Landscrapers, Inc. will settle their account when they return the loader. They expect to keep it about two or three weeks. On the day that the company rented the loader, how would you journalize it? The fact...

View more questions Search