i need help question 12- 26

Use the following to answer questions 58 Determine the amount to recognize in September for accrual basis and for cash basis. wot done is Sepecoter? Use the following to answer questions 910 On September 11:, the company received a $48,000 payment from a customer for services to be rendered evenly over the next six months. Deferred Revenue was credited on September 1t and no other entries regarding this transaction were made until December 31st. 9. S After the adjusting entry has been recorded on December 31st, determine the ending balance in the deferred revenue account that should be recorded on the December 31st Balance Sheet. 10. $ After the adjusting entry has been recorded on December 31st, determine the amount of service revenue that should be recognized for this customer on the annual income statement on December 31st. Use the following to answer questions 1112 On October 1st the company borrows $200,000 from a local bank for nine months. A note is signed with principal and 7% interest to be paid when the note matures next year. A note payable was recognized on October 1st, and no other entries regarding this transaction were made until December 31st. 11. $ In the adjusting entry recorded on December 31st determine the amount of interest expense that should be reported. Submit your answers in Canvas before it is due Use the following to answer questions 14 A company maintains its records using accrual basis accounting; however, their accountant wants to create a statement of cash flows and needs to determine the cash flow from operating activities. For simplicity, we assume only one expense account (salaries). The following is data gathered from their records. Complete the T-accounts for ACCOUNTS RECEIVABLE and SALARIES PAYABLE to help answer questions \#1 \&2. NOTE: ALL SERVICES PROVIDED ARE ON ACCOUNT AND SALARIES EXPENSE ARE RECORDED BEFORE THEY ARE PAID. ACCOUNTS RECEIVABLE SALARIES PAYABLE 1. Determine the amount of cash collected from customers during the period: $ 2. Determine the amount for cash paid for salaries during the period: S 3. Determine accrual basis net income for the period: $ 4. Determine cash basis net income for the period: Use the following to answer questions 58 Determine the amount to recognize in September for 12. What effect would failure to record the adjusting entry for this note payable have on the financial statement items? A. would cause it to be overstated B. would cause it to be understated C. would have no effect Use the following to answer questions 1314 The company incurs employee salaries of $30,000 for the last week of December which will be paid on January 5 th. 13. Record the adjusting entry on December 31st related to the employee salaries 14. S Indicate by how much net income in the income statement is higher or lower if the adjustment in \#13 is not recorded (if lower put "." in front of your answer). Use the following to answer questions 15 - 16 On November 1st, the company pays a local radio station $15,000 for 6 months of radio ads that are to be aired equally throughout the six months. Prepaid Advertising was debited on November 1st and no other entries regarding this transaction were made since then. 15. S After the adjusting entry has been recorded on December 31st, determine the amount of advertising expense for the year ended December 31st. 16. S After the adjusting entry has been recorded on December 31st, determine the ending 20. \$ Determine total expenses for the year 21. $ Determine net income for the year 22. $ Determine ending retained earnings for the year 23. S Determine ending total stockholders' equity for the year 24. Determine total Current Assets at the end of the year 25. S Determine Total Assets at the end of the year 26. Should Common stock be closed at year end? Use the following to answer questions 2729 The Company had the following Net Income (Loss) for 20A20D (the first four years of operations). Determine their Ending Retained Earnings amount for each year. (Keep your answer "in millions" like the example). 16.$ After the adjusting entry has been recorded on December 31st, determine the ending balance in the prepaid advertising account that should be recorded on the December 31s Balance Sheet. Use the following transactions to answer questions 17 19 Determine the amount of revenue or expense that would be reported at the time of the transaction under the two methods. An example transaction has been completed for you. Example: Purchased office supplies for cash, \$440 Use the following to answer questions 2026 The following are the year-end account balances (prior to closing) of the company