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Andular Financial Services was organized on April 1 of the current year. On April 2, Andular prepaid $9,000 to the city taxes (license fees) for the next 12 months and debited the prepaid taxes account. Andular is also required to pay in January an annual tax (on property) for the previous calendar...
An examination of the prepaid Insurance account shows a balance of $10,280 at the end of an accounting period, before adjustment. Prepare entries in journal form to record the insurance expense for the period under the following independent assumptions: 1. An examination of the insurance...
The balance in the prepaid insurance account before adjustment at the end of the year is 6175 journalize the adjusting entry required under each of the following alternatives for determing the amount of the adjustment 1. amount exprired during the year is 4180 2. amount of unexpired insurance...
Not sure exactly how to figure this or even to record it, here is what it looks like in my book: XX's accounting records include the following account balances: December 31, ...
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