Monthly rent is 3000 4 depreciation of office

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  • ACCT 280
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Chapter 4 Random Questions 2

Question 8   1 / 1 point Rockville Company adjusts its accounts at the end of each month . The following information has been assembled in order to prepare the required adjusting entries at December 31 : ( 1 ) A one - year bank loan of $ 360,000 at an annual interest rate of 12 % had been obtained on December 1 . ( 2 ) The company 's pays all employees up - to - date each Friday . Since December 31 fell on Tuesday , there was a liability to employees at December 31 for two day 's pay amounting to $ 5,900 . ( 3 ) On December 1 rent on the office building had been paid for four months . Monthly rent is $ 3,000 . ( 4 ) Depreciation of office equipment is based on a lifetime of six years . The balance in the Office Equipment account is $ 7,200 ; no change has occurred in the account during the year . ( 5 ) Fees of $ 7,600 were earned during the month for clients who had paid in advance . What amount of interest expense has accrued on the bank loan ?
 $ 2,400 .
 $ 3,000 .
 $ 4,200 .
 $ 3,600 .
Question 9   1 / 1 point The adjusting entry to record interest that has accrued on a note payable to the bank will cause an immediate :
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(3) On December 1 rent on the office building had been paid for four months. Monthly rent is $3,000.(4) Depreciation of office equipment is based on a lifetime of six years. The balance in the Office Equipment account is $7,200; no change has occurred in the account during the year.(5) Fees of $7,600 were earned during the month for clients who had paid in advance. What amount of interest expense has accrued on the bank loan?$2,400.$3,000.$4,200.$3,600.
Question 91 / 1 pointThe adjusting entry to record interest that has accrued on a note payable to the bank will cause an immediate:
Question 100 / 1 point
Shane, Inc. adjusts its books each month but closes its books at the end of the year. Thetrial balance at March 31 before adjustments is as above.Employees are owed $600 for services since the last payday in March, to be paid the first week in April. The amount to be reported in the March income statement for salaries expense is:

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