The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Borrowed $16,000 from a bank and signe
d a note. Principal and interest at 9% will be paid on January 31, 2022. Apr. 1 Paid $4,400 to an insurance company for a two-year fire insurance policy. July 17 Purchased supplies costing $3,200 on account. The company records supplies purchased in an asset account. At the year-end on December 31, 2021, supplies costing $1,450 remained on hand. Nov. 1 A customer borrowed $7,200 and signed a note requiring the customer to pay principal and 7% interest on April 30, 2022.
Required:
1. Record each transaction in general journal form.
2. Prepare any necessary adjusting entries at the year-end on December 31, 2021. No adjusting entries were recorded during the year for any item.
Required:
1. Record each transaction in general journal form.
2. Prepare any necessary adjusting entries at the year-end on December 31, 2021. No adjusting entries were recorded during the year for any item.
1 answer:
Answer: See explanation
Explanation:
Journal entry simply has to do with the recording of transactions in an accounting book which signifies the debit and credit balances of the company.
For the adjusting entries:
On Dec 31:
Interest expense:
= 16000 × 9% × 11/12
= 1320
Prepaid insurance
= 4400/24 × 9
= 1650
Check the attached file for further explanation.
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<h2>Hey There!</h2><h2>_____________________________________</h2><h2>Answer:</h2><h2>_____________________________________</h2><h2>Phenotype:</h2>
It is the physical appearance of the trait, whether the person has smooth chin or cleft chin.
<h2>Genotype:</h2>A genotype refers to the genetic characteristics of an organism's trait, if it is heterozygous or hom.ozygous, recessive or dominant.
<h2>_____________________________________</h2><h2>Alleles:</h2>Cleft chin C is dominant over smooth chin c
<h2>Genotypes of Parents:</h2><h3>FATHER:</h3>Father has smooth chin thus, it is hom.ozygous recessive i.e. cc
<h3>MOTHER:</h3>Mother has cleft chin, since cleft chin is dominant there are two possibilities of her genotype,
Heterozygous Dominant : Cc
Hom.zygous Dominant : CC
but if we cross the hom.zygous fominant mother to hom.ozygous recessive father we will get all the offsprings with the same genotype phenotype so it is not possibile, So the mother is HETEROZYGOUS DOMINANT Cc
<h2>_____________________________________</h2><h2><u>Question</u>:</h2><h2>_____________________________________</h2><h2>Genotypes of Parents:</h2>FATHER: cc (Hom.ozygous Recessive)
MOTHER: Cc (Heterozygous Dominant)
<h2>_____________________________________</h2><h2>Punnet Square:</h2>Picture attached!
Picture no 1: it is the cross between hom.ozygous recessive father and hom.ozygous dominant mother and all the offsprings are same both phenotypic and genotypic way so IT IS NOT POSSIBILE
Picture no 2: Its cross between hom.ozygous recessive father and heterozygous dominant mother and there are hybrid and pure recessive both type of offsprings present thus IT IS POSSIBLE!
<h2>_____________________________________</h2><h2>Genotype Ratio of the Offspring:</h2>Hybrid : Pure Recessive
2 : 2 or 1 : 1
<h2>_____________________________________</h2><h2>Phenotype Ratio of the Offspring:</h2>Cleft Chin : Smooth Chin
2 : 2 or 1 : 1
<h2>_____________________________________</h2><h2>Best Regards,</h2><h2>'Borz'</h2><h2 />