Chapter 4 Homework Handout Questions

Chapter 4 Homework - C Calculations None applicable D Calculations 550-370=170 $380 would be reported as service revenue on the income statement

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A) Calculations 190+490=680 680-220=460 The supplies expense reported on the income statement would amount to $460. The balance reported on the balance sheet for supplies would be $220. B) Calculations 230+570=800 800-450=350 The insurance expense in the balance sheet would be $450. The prepaid insurance amount on the balance sheet would be reported as $350.
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Unformatted text preview: C) Calculations None applicable D) Calculations 550-370=170 $380 would be reported as service revenue on the income statement. $170 would be reported as unearned service revenue on the balance sheet. E) Calculations 10,000 *.10=1,000 1,000/12= 83 83 * 9= 750 $750 would be reported as unearned interest revenue. $750 would be reported as interest receivable....
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This note was uploaded on 04/04/2008 for the course ACC 240 taught by Professor Lewis during the Fall '08 term at Eastern Michigan University.

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