UGBA102A_HW3_VictorGiner.pdf - UGBA 102 Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 3 E3 – 4 Expense account Amount

UGBA102A_HW3_VictorGiner.pdf - UGBA 102 Introduction to...

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UGBA 102 Introduction to Financial Accounting Victor Giner Ciaurriz Homework Chapter 3 E3 – 4 Expense account Amount incurred in January A Utilities expense $3,800 B Advertising expense $321 incurred in January (963 /3) The rest of the money is a prepaid xpense that is incurred in the following months (February and March) C Salaries expense $201,500 The remaining half was incurred in December of the precedent year D None The expense will be recorded when the revenue from the games is earned in the future E None The expense will be recorded when the revenue is earned F Cost of goods sold $84,000 (400 books x $280) G None It is a December expense. H Commission expense $55,560 I None Expense will be recorded as a depreciation taking into account the grill’s useful life J Supplies expense $4,500, as a result of summing $3,500 and $2,600 and then substracting $1,400 K Wage expense $184 (8 hours x $23/hour) L Insurance expense $400 ($4,800 x 1/12).The remaining amount is prepaid insurance.
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