Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 16 Feb 2018 My Price 8.00

Foxboro Realty

Selected account balances before adjustment for Foxboro Realty at December 31, 2008, the end of the current year, are as follows:

 

Debits

Credits

Accounts Receivable

$18,250

 

Equipment

72,500

 

Accumulated Depreciation

 

$ 11,900

Prepaid Rent

7,500

 

Supplies

2,050

 

Wages Payable

 

—

Unearned Fees

 

8,500

Fees Earned

 

187,950

Wages Expense

60,100

 

Rent Expense

—

 

Depreciation Expense

—

 

Supplies Expense

—

 

Data needed for year-end adjustments are as follows:

a. Unbilled fees at December 31, $1,650.

b. Supplies on hand at December 31, $200.

c. Rent expired, $5,000.

d. Depreciation of equipment during year, $1,150.

e. Unearned fees at December 31, $1,500.

f. Wages accrued but not paid at December 31, $3,150.

Instructions

Journalize the six adjusting entries required at December 31, based upon the data presented.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Feb 2018 05:02 PM My Price 8.00

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