Colin Mochrie Company has the following balances in

selected acc
Colin Mochrie Company has the following balances in selected accounts on December 31,
2010.Consulting Revenue....... $40,000Insurance Expense......... 2,100Supplies Expense........
2,450All the accounts have normal balances. Colin Mochrie Company debits prepayments to
expense accounts when paid, and credits unearned revenues to revenue accounts when
received. The following information below has been gathered at December 31, 2010.1. Colin
Mochrie Company paid $2,100 for 12 months of insurance coverage on June 1, 2010.2. On
December 1, 2010, Colin Mochrie Company collected $40,000 for consulting services to be
performed from December 1, 2010, through March 31, 2011.3. A count of supplies on
December 31, 2010, indicates that supplies of $800 are on hand.InstructionsPrepare the
adjusting entries needed at December 31, 2010.View Solution:
Colin Mochrie Company has the following balances in selected acc
SOLUTION-- http://accountinginn.online/downloads/colin-mochrie-company-has-the-following-
balances-in-selected-acc/

For Solutions Visit accountinginn.online

Powered by TCPDF (www.tcpdf.org)