Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 11.00

editorial services company

Cambridge Company is a small editorial services company owned and operated by Dave Maier. On December 31, 2008, the end of the current year, Cambridge Company’s accounting clerk prepared the unadjusted trial balance shown at the top of the following page. The data needed to determine year-end adjustments are as follows:

a. Unexpired insurance at December 31, $2,700.

b. Supplies on hand at December 31, $480.

c. Depreciation of building for the year, $1,600.

d. Depreciation of equipment for the year, $4,400.

e. Rent unearned at December 31, $3,250.

f. Accrued salaries and wages at December 31, $2,800.

g. Fees earned but unbilled on December 31, $6,200.

Instructions

1. Journalize the adjusting entries. Add additional accounts as needed.

2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.

Cambridge Company Unadjusted Trial Balance December 31, 2008

 

Debit

Credit

 

Balances

Balances

Cash

5,550

 

Accounts Receivable

28,350

 

Prepaid Insurance

7,200

 

Supplies

1,980

 

Land

112,500

 

Building

212,250

 

Accumulated Depreciation—Building

 

137,550

Equipment

135,300

 

Accumulated Depreciation—Equipment

 

97,950

Accounts Payable

 

12,150

Unearned Rent

 

6,750

Dave Maier, Capital

 

201,000

Dave Maier, Drawing

15,000

 

Fees Earned

 

294,600

Salaries and Wages Expense

143,370

 

Utilities Expense

42,375

 

Advertising Expense

22,800

 

Repairs Expense

17,250

 

Miscellaneous Expense

6,075

 

 

750,000

750,000

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 AM My Price 11.00

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