Details of this Paper

Acct2301 Final- JKL Company

Description

solution


Question

Question;jkl compant;JKL COMPANY;Worksheet;Unadjusted;Adjusted;Trial;Balance;Adjustments;Trial;Balance;Account;Debit;Credit;Debit;Credit;Debit;Credit;Cash;$34,000;$34,000;Accounts receivable (A);14,000;22,000;Office supplies (B);16,000;2,000;Prepaid insurance ?;8,540;2,960;Office equipment;84,000;84,000;Accumulated;depreciation, Office equipment (D);$14,000;$20,000;Accounts payable (E);9,100;10,000;Interest payable (F);0;1,000;Salaries payable (G);0;7,000;Unearned consulting fees;(H);18,000;15,000;Long-term notes payable;52,000;52,000;J. Logan, Capital;40,000;40,000;J. Logan, Withdrawals;5,000;5,000;Consulting fees earned;1,23,240;1,34,240;Depreciation expense, Office;equipment;0;6,000;Salaries expense;67,000;74,000;Interest expense;1,200;2,200;Insurance expense;0;5,580;Rent expense;14,500;14,500;Office supplies expense;0;14,000;Advertising expense;12,100;13,000;Totals;########;########;########;########;A six column;table for JKL Company is given. The;first two columns contain the unadjusted trial balance for the company as of;July 31, 2008/ The last two columns contain the adjusted trial balance as of;the same date.;Analyze the;differences between the unadjusted and adjusted trial balances to determine;the eight adjustments that likely were made.;Show the;results of your analysis by inserting these adjustments amounts in the;table?s two middle columns. Label each;adjustment with a letter A thru H;A. Accounts;Receivable is associated with what credit account? See also H transaction;B. Office Supplies is associated with what;expense account?;C. Prepaid Insurance is associated with what;expense account?;D.;Accumulated Deprecation, office equipment is associated with expense account?;E. Accounts Payable is associated with what;expense account?;F. Interest Payable is associated with what;expense account?;G. Salaries Payable is associated with what;expense account?;H. Unearned;consulting fees is associated with what revenue account?;A and H is associated with the same;credit account.

 

Paper#42538 | Written in 18-Jul-2015

Price : $21
SiteLock