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Category > Accounting Posted 14 Dec 2019 My Price 5.00

Fargo’s Detective Agency

Fargo’s Detective Agency purchased a two-year insurance policy on April 1, 2014, paying cash of $7,680. Its year end is December 31. a. Record the journal entry on April 1,2014. b. Record the adjusting entry on December 31,2014. c. Record the adjusting entry on December 31, 2015. d. How much of the insurance policy purchased on April 1, 2014, was actually used during the year 2016?
 


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SmartExpert
(118)
Status NEW Posted 14 Dec 2019 03:12 PM My Price 5.00

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Attachments

file 1576338764-4948568_1_637104202625313901_prepaid-insurance-journal-entries.xlsx preview (163 words )
Pr-----------epa-----------id -----------Ins-----------ura-----------nce----------- -J-----------our-----------nal----------- en-----------tri-----------es4-----------948-----------568-----------&am-----------p;a-----------mp;-----------inf-----------oId-----------=83-----------304-----------1&a-----------mp;-----------amp-----------;uS-----------olu-----------tio-----------nGe-----------ner-----------al -----------Jou-----------rna-----------lDa-----------teA-----------cco-----------unt-----------s t-----------itl-----------es -----------and----------- ex-----------pla-----------nat-----------ion-----------Deb-----------itC-----------red-----------it$-----------The----------- Ch-----------art----------- of----------- Ac-----------cou-----------nts----------- fo-----------r F-----------arg-----------oâ€-----------™s -----------Det-----------ect-----------ive----------- Ag-----------enc-----------yPa-----------ge -----------J4F-----------arg-----------oâ€-----------™s -----------Det-----------ect-----------ive----------- Ag-----------enc-----------y p-----------urc-----------has-----------ed -----------a t-----------wo------------yea-----------r i-----------nsu-----------ran-----------ce -----------pol-----------icy----------- on----------- Ap-----------ril----------- 1,----------- 20-----------14,----------- pa-----------yin-----------g c-----------ash----------- of----------- $7-----------,68-----------0. -----------Its----------- ye-----------ar -----------end----------- is----------- De-----------cem-----------ber----------- 31-----------Tra-----------nsa-----------cti-----------on -----------mad-----------e a-----------. R-----------eco-----------rd -----------the----------- jo-----------urn-----------al -----------ent-----------ry -----------on -----------Apr-----------il -----------1,2-----------014-----------Apr----------- 01-----------,20-----------14.-----------Pre-----------pai-----------d I-----------nsu-----------ran-----------ceC-----------ash-----------
file 1576338822-Fargos Detective Agency.xlsx preview (163 words )
Pr-----------epa-----------id -----------Ins-----------ura-----------nce----------- -J-----------our-----------nal----------- en-----------tri-----------es4-----------948-----------568-----------&am-----------p;a-----------mp;-----------inf-----------oId-----------=83-----------304-----------1&a-----------mp;-----------amp-----------;uS-----------olu-----------tio-----------nGe-----------ner-----------al -----------Jou-----------rna-----------lDa-----------teA-----------cco-----------unt-----------s t-----------itl-----------es -----------and----------- ex-----------pla-----------nat-----------ion-----------Deb-----------itC-----------red-----------it$-----------The----------- Ch-----------art----------- of----------- Ac-----------cou-----------nts----------- fo-----------r F-----------arg-----------oâ€-----------™s -----------Det-----------ect-----------ive----------- Ag-----------enc-----------yPa-----------ge -----------J4F-----------arg-----------oâ€-----------™s -----------Det-----------ect-----------ive----------- Ag-----------enc-----------y p-----------urc-----------has-----------ed -----------a t-----------wo------------yea-----------r i-----------nsu-----------ran-----------ce -----------pol-----------icy----------- on----------- Ap-----------ril----------- 1,----------- 20-----------14,----------- pa-----------yin-----------g c-----------ash----------- of----------- $7-----------,68-----------0. -----------Its----------- ye-----------ar -----------end----------- is----------- De-----------cem-----------ber----------- 31-----------Tra-----------nsa-----------cti-----------on -----------mad-----------e a-----------. R-----------eco-----------rd -----------the----------- jo-----------urn-----------al -----------ent-----------ry -----------on -----------Apr-----------il -----------1,2-----------014-----------Apr----------- 01-----------,20-----------14.-----------Pre-----------pai-----------d I-----------nsu-----------ran-----------ceC-----------ash-----------
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