quiz4 - a b c d e f g h The yearly amortization on the...

Info icon This preview shows pages 1–2. Sign up to view the full content.

a. The yearly amortization on the building is $550. b. Property taxes of $800 have accrued but are unrecorded. c. Services performed but unrecorded at the end of the year totalled $10,000. d. The furniture was purchased in a previous year and will be sold for $750 after being used for ten years. e. A review of the unadjusted balance in the prepaid rent account shows a remaining balance of $15,000 at the end of the year. f. Of the rent paid to Courtland Corp. in advance, $1,500 has been earned. g. A review of the unadjusted balance in the supplies account shows a balance on hand at the end of the year of $1,450. h. Of the consulting fees Courtland Corp. received in advance, $6,100 has not yet been earned. (c) You have not included the 'Accounts Receivable' account in this journal entry. This will cost you 2 marks. You have not included the 'Fees Earned' account in this journal entry. This will cost you 2 marks. The description should be 'c', but you have not entered this. However you will not lose any marks for this.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '06
  • james
  • Prepaid rent, Generally Accepted Accounting Principles, Courtland Corp., Consulting Revenue Earned

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern