Assessing Financial Statement Effects of Adjustments For each of the following separate situations, prepare...
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Assessing Financial Statement Effects of Adjustments For each of the following separate situations, prepare the necessary accounting adjustments using the Financial Statement Effects Template. a Unrecorded depreciation on equipment is $ b The supplies account has a balance of $ Supplies still available at the end of the period total $ c On the date for preparing financial statements, an estimated utilities expense of $ has been incurred, but no utility bill has yet been received or paid. d On the first day of the current period, rent for four periods was paid and recorded as a $ increase to prepaid rent and a $ decrease to cash. e Nine months ago, a oneyear service policy was sold to a customer, and the insurance company recorded the cash received by increasing crediting unearned revenue for $ No accounting adjustments have been prepared during the ninemonth period. The insurance company is now preparing annual financial statements. f At the end of the period, employee wages of $ have been incurred but not paid or recorded. g At the end of the period, $ of interest has been earned but not yet received or recorded.
Assessing Financial Statement Effects of Adjustments
For each of the following separate situations, prepare the necessary accounting adjustments using the Financial Statement Effects Template.
a
Unrecorded depreciation on equipment is $
b
The supplies account has a balance of $ Supplies still available at the end of the period total $
c On the date for preparing financial statements, an estimated utilities expense of $ has been incurred, but no utility bill has yet been received or paid.
d On the first day of the current period, rent for four periods was paid and recorded as a $ increase to prepaid rent and a $ decrease to cash.
e Nine months ago, a oneyear service policy was sold to a customer, and the insurance company recorded the cash received by increasing crediting unearned revenue for $ No accounting adjustments have been prepared during the ninemonth period. The insurance company is now preparing annual financial statements.
f
At the end of the period, employee wages of $ have been incurred but not paid or recorded.
g
At the end of the period, $ of interest has been earned but not yet received or recorded.
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