Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help solve this problem this is all the inf

Please help solve this problem This is all the information I Have Analyzing an...

90.2K

Verified Solution

Question

Accounting

imageimage

Please help solve this problem

This is all the information I Have

Analyzing an Adjusted Trial Balance Below is an adjusted trial balance (partial) for Lazer Tag Inc. as of December 31. Additional information a. During the year, a corporate client paid a 12 -month event fee of $73,920 cash for one planned event per month at Lazer Tag to be applied over 12 months. b. Supplies available on December 31 of last year were $16,800. c. A two-year insurance policy was purchased on September 1. The policy was paid in full on September 1. Premiums had increased from the prior policy. Answer the following questions. 1. If interest expense relates to six months of interest expense on a 10% note payable, what is the amount of the note payable? 2. What was the adjusting journal entry to accrue unpaid, but incurred salaries, on December 31? 3. How many months remain in the 12-month corporate client contract? months 4. What amount of supplies was purchased during the year? 5. What was the price of the two-year insurance policy signed on September 1 ? $ 6. By how much did the current policy's monthly premium increase over the prior policy's monthly premium? $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

The union for a particular industry has determined that the standard deviation of the daily wages...

Civil Engineering
1.2K views

A client needs to fill and compact a trench that has the following dimensions 150 x...

Physics
1.2K views

The formula for length contraction gives the length of an interval on a ruler moving with...

Biology
1.2K views

Worksheet 2 Calculating Protons Electrons and Neutrons Element Symbol Al O F C Ne Be...

Physics
1.2K views

A uniform conducting ring of mass m 2 kg radius r 2m and resistance 8...

Statistics
1.2K views

The graph below shows a scatterplot of midterm scores plotted against homework scores The graph...

Accounting
1.2K views

On January 1, 2015, Solis Co. issued its 10% bonds in the face amount of...

Accounting
1.2K views

10 minutes please Question 2 [20 points) The account balances for...

Accounting
1.2K views

Kircher Clothing, Inc. manufactures two styles of jackets: standard, which sell for $45, and waterproof,...

Accounting
1.2K views

Only 3 questions. Please do all questions. I only need answer. Thank you! Required...

Finance
1.2K views

Select all that apply Which of these correctly define free cash flow? Multiple select question....

Finance
1.2K views

explain manually without using excel. Teddy Bear Planet, Inc., has a project with the following...