Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sunland company records all prepayments in income

Sunland Company records all prepayments in income statement accounts. At April 30, the trial balance...

90.2K

Verified Solution

Question

Accounting

Sunland Company records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $3,000, Service Revenue $9,400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) (b) No. (a) (b) $700 of supplies on hand and $3,800 of service revenue should be reported as unearned. Date Account Titles and Explanation Apr. 30 Apr. 30 Debit Credit
image
Sunland Compary records all prepayments in incorne statement accounts. At April 30 , the trial balance shows Supplies Expense $3,000, Service Revenue $9,400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) $700 of supplies on hand and (b) $3,800 of service revenue should be reported as unearned

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

Basic Math
1.2K views

Below are monthly rents paid by 30 students who live off campus. 700 700 700 900...

Biology
1.2K views

List the primary lymphoid organs and summarize their functions in the immune system make sure...

Physics
1.2K views

Two similar rods but of different materials are joined together end to end The ratio...

Physics
1.2K views

From the top of a tower 102 9 m high a body is thrown upwards...

Geometry
1.2K views

the question and type your response in the box provided Your response will be saved...

Statistics
1.2K views

Harry has a 1 year ARM for 75 000 over a 25 year term The...

Algebra
1.2K views

Let A Microsoft Tesla Cinemex B Tesla Microsoft Cinemex Toyota Then AUB Microsoft Tesla Cinemex...

Accounting
1.2K views

Draw a General ledger DFD chart with the correct symbols for the process below. ...

Accounting
1.2K views

Prepare the journal entries to record the following transactions on Cullumber Company's books using a...

Accounting
1.2K views

Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the...

Accounting
1.2K views

What are the total assets reported by Panther Enterprises if operating income is $ 708,750,...

Accounting
1.2K views

At the beginning of the year, the net assets of Shannon Co. were $412,600. The...