Homework 3 - Accounting

Homework 3 - Accounting - Jennifer Edwards Exercise 3-2...

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Unformatted text preview: Jennifer Edwards Exercise 3-2 Accounts Answer Type of Adjustment Accounts ReceivableNormally requires adjusting Accrued Revenue Capital Stock Normally does not require adjusting Cash Normally requires adjusting Accrued Expense Interest Expense Normally requires adjusting Accrued Expense Land Normally does not need adjusting Office Equipment Normally requires adjusting Accrued Expense Prepaid Rent Normally requires adjusting Prepaid Expense Supplies Normally requires adjusting Accrued Expense Unearned Fees Normally requires adjusting Accrued Revenue Wages Expense Normally requires adjusting Accrued Expense Jennifer Edwards Exercise 3-6 14800 + 11,200= 26,000 26,000 - 3,600= 22,400 Insurance Expense 22,400 Prepaid Insurance 22, 400 The balance in the prepaid insurance account, before adjustment at the end of the year, is $14,800. Journalize the adjusting entry required under each of the following alternatives for determining the amount of...
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This note was uploaded on 09/21/2011 for the course ACCT 101 taught by Professor Hollies during the Fall '11 term at University of Bridgeport.

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Homework 3 - Accounting - Jennifer Edwards Exercise 3-2...

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