ch 4 excersise - Chapter 4 dataatDecember31(a(b(c(d(e(f...

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Chapter 4 E4-8   Proctor Company accumulates the following adjustment  data at December 31.  (a)  (b)  (c)   (d)  (e)   (f)   The ledger of Thurston Rental Agency on March 31 of the current year includes these selected accounts before adjusting entries  have been prepared.  Debits Prepaid Insurance $ 3,600 3,000 25,000
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Chapter 4 Debits Accumulated Depreciation—Equipment   Notes Payable   Unearned Rent Revenue   Rent Revenue   Interest Expense 0 Wage Expense 14,000 An analysis of the accounts shows the following.  1.   The equipment depreciates $280 per month.   280x3 = 840 2.   Half of the unearned rent revenue was earned during the quarter.  3.   Interest of $440 is accrued on the notes payable. 4.   Supplies on hand total $850.   3,000 – 850 = 2,150 5.   Insurance expires at the rate of $400 per month.   400x3 = 1,200 Instructions
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This document was uploaded on 11/02/2011 for the course ACCOUNTING ac 201 at Montgomery.

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ch 4 excersise - Chapter 4 dataatDecember31(a(b(c(d(e(f...

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