Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 33,000 shares authorized, 16,8
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Answer:
rent expense 2400
Prepaid Rent 2400
--expired rent--
Deferred Revenue 750
Service Revenue 750
--acrued revenue--
Salaries expense 700
salaries payable 700
--accrued salaries--
Supplies 3200
supplies expense 3200
--supplies used--
The trial balance is attached.
Explanation:
a) 7,200 is the contract value for 6 months
we divide by 6 month and then, we multiply by 2 month accrued for the year (november and december)
b)we decrease the portion earned and recognize the gain
c) we recognize a liability and the wages expense associate for this wages
d) the difference between the book value and supplies on hand will be considered consumption so, supplies expense
For the ajusted trial balance, we will adjust the balance of eahc account considering the beginning balance
