subject
Business, 04.10.2019 20:20 Jasten

1. events concerning the ellen company for 2015 are described below a. on september 1, 2015, a two-year comprehensive insurance policy was purchased for $2,400. the payment was debited to prepaid insurance. b. on december 1, 2015, a customer paid $1,250 in advance for services to be performed in january of 2016. the payment was credited to unearned revenue on january 1, 2015, the office supplies account had a $500 balance. supplies o costing $3,100 were purchased during the year. at december 31, an inventory count c. showed $100 of supplies on hand d. on december 31, 2015, $4,800 of unpaid employee salaries had accumulated. no entry for these salaries has been recorded e. straight-line depreciation is recorded only at year-end and is being used for a building that was purchased at the beginning of 2014 for $48,000, with an expected life of 30 years and an estimated residual value of $3,000. the income tax rate is 35% on current income. pretax income before the above adjusting entries was $95,600. f. required prepare the appropriate december 31, 2015, adjusting entry for each item, or indicate that an adjusting entry is not necessary. assume that ellen's transactions were initially recorded in permanent (balance sheet) accounts unless otherwise indicated english (united states

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 20:30
The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.
Answers: 3
question
Business, 22.06.2019 21:40
Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.
Answers: 2
question
Business, 23.06.2019 04:00
The servers at gerry frasier's busy ice cream shop decided that putting more ice cream in the sundaes and cones would bring back more customers. after three months, gerry was surprised to discover that his profit had
Answers: 1
question
Business, 23.06.2019 09:00
It will gain you more knowledge, intensify your soft skills, grow your strong work ethics and grow your network and grow your network. what is it ?
Answers: 3
You know the right answer?
1. events concerning the ellen company for 2015 are described below a. on september 1, 2015, a two-y...
Questions
question
Mathematics, 19.09.2021 01:00
Questions on the website: 13722363