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Vinvika [58]
3 years ago
9

Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has

been prepared on the following end-of-period spreadsheet for the year ended October 31, 2016:
Alert Security Services Co.
End-of-Period Spreadsheet
For the Year Ended October 31, 2016
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Debit Credit Debit Credit Debit Credit
Cash 12
Accounts Receivable 90
Supplies 8
Prepaid Insurance 12
Land 190
Equipment 50
Accum. Depr.—Equipment 4
Accounts Payable 36
Wages Payable 0
Brenda Schultz, Capital 260
Brenda Schultz, Drawing 8
Fees Earned 200
Wages Expense 110
Rent Expense 12
Insurance Expense 0
Utilities Expense 6
Supplies Expense 0
Depreciation Expense 0
Miscellaneous Expense 2
500 500
The data for year-end adjustments are as follows:

• Fees earned, but not yet billed, $13.
• Supplies on hand, $4.
• Insurance premiums expired, $10.
• Depreciation expense, $3.
• Wages accrued, but not paid, $1.
Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns. Leave cells blank that do not require an entry.

Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns. Leave cells blank that do not require an entry.

Alert Security Services Co.

End-of-Period Spreadsheet

For the Year Ended October 31, 2016

1

Unadjusted

Unadjusted

Adjusted

Adjusted

2

Trial Balance

Trial Balance

Adjustments

Adjustments

Trial Balance

Trial Balance

3

Debit

Credit

Debit

Credit

Debit

Credit

4

Cash

12.00

5

Accounts Receivable

90.00

6

Supplies

8.00

7

Prepaid Insurance

12.00

8

Land

190.00

9

Equipment

50.00

10

Accumulated Depreciation-Equipment

4.00

11

Accounts Payable

36.00

12

Wages Payable

0.00

13

Brenda Schultz, Capital

260.00

14

Brenda Schultz, Drawing

8.00

15

Fees Earned

200.00

16

Wages Expense

110.00

17

Rent Expense

12.00

18

Insurance Expense

0.00

19

Utilities Expense

6.00

20

Supplies Expense

0.00

21

Depreciation Expense

0.00

22

Miscellaneous Expense

2.00

23

Totals

$500.00

$500.00

Business
1 answer:
harina [27]3 years ago
8 0

Answer:

attached file with the solution to give a better format

Explanation:

The fees earned will increase fees and account receivables is we don't colelct the amount

the supplied on hand will be compared against the book value

8 - 4 = 4 supplies expense

the premium expired will decrease the prepaid insurance

wages accrued will generate both, a wages payable and wages expense

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iren2701 [21]
D unfamiliar c c c c cc’s
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2 years ago
The Value of a Bond is tied to the Dividend rate.<br><br> True or false
PilotLPTM [1.2K]

<u>Answer:</u> False. The Value of a Bond is not related to the Dividend rate.

<u>Explanation:</u>

Bond rates are inversely related with the interest rates in the market and not dividend rates. Bonds yield interest for the investment and not dividends. Dividends are paid for shares. Dividend rates affects the share price and not Bond value in the market.

The interest rates of the Bonds can be fixed rates or fluctuating rates. It depends on the type of the security issued. As the interest rates are fluctuating then the risk for the investors increase.

7 0
3 years ago
You have just won the multi-state lottery jackpot of $500,000,000! you have the option of receiving a check for $25,000,000 ever
tekilochka [14]

(10,000,000) / (20) = 500,000

(10,000,000) * (0.069) = 690,000 in taxes.

So (10,000,000) - (690,000) = 9,310,000 in a lump sum.

In 20 payments it would be $500,000 minus the taxes.

($500,000) - [(690,000)/(20)]

($500,000) - [$34,500] = $465,500

One lump sum would be $9,310,00. If they don't charge you taxes if you get the 20 payments per year, you would get $500,000. If you're charged taxes you'd get $465,500 per year.

6 0
3 years ago
During the current year, sales on account were $306,673, collections on account were $290,750, write-offs of bad debts were $7,0
sweet-ann [11.9K]

Answer:

  • 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.

Accounts Rec T-Account  

$ 306.673 Debit

$ 290.750 Credit

$ 7.059    Credit

$ 8.864    Debit Balance

Allowance for Doubtful Accounts T-Account  

$ 7.059 Debit

$ 4.775 Credit

$ 2.284 Debit Balance

  • 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.

$ 4.775   Dr Bad Debt Expense

  • 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.

$ 2.284    Dr (Debit) Allowance for Uncollectible Accounts

$ 8.864    Dr (Debit) Accounts Receivable                        

Explanation:

  • Initial Balance

Dr Accounts Receivable  $ 306.673

 

  • Write-offs of bad debts  

Cash $ 290.750

Cr Accounts Receivable  $ 290.750

 

  • Write-offs of bad debts  

Dr Allowance for Uncollectible Accounts $ 7.059

Cr Accounts Receivable  $ 7.059

 

  • Bad debt expense adjustment  

Dr Bad Debt Expense $ 4.775

Cr Allowance for Uncollectible Accounts $ 4.775

 

  • 1-b. Complete the amounts related to Accounts Receivable and  

Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year  

Dr Bad Debt Expense $ 4.775

 

  • 1-c. Complete the amounts related to Accounts Receivable and  

Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.  

Dr Allowance for Uncollectible Accounts $ 2.284

Dr Accounts Receivable  $ 8.864

6 0
3 years ago
An electronics store runs very effective advertising to draw potential
rewona [7]

Answer:b

Explanation:

if you show that other companies profit from what you sell people would want to by the product

E.6.C

8 0
3 years ago
Read 2 more answers
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