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  • When The Accounts of Daniel Barenboim Inc Are Examined The

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    M Bilal Saleem
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    When examining the accounts of Daniel Barenboim Inc. for the fiscal year ending December 31, four adjusting entries were needed: 1. A debit to prepaid insurance of $5,280 for a two-year fire insurance policy purchased in August. 2. A credit to rental revenue of $1,800 for revenue received in November for a three-month subrental. 3. A debit to advertising expense of $800 for materials purchased during the year, with $290 remaining on hand on December 31. 4. A debit to interest expense of $770 for interest accrued on notes payable.

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    When examining the accounts of Daniel Barenboim Inc. for the fiscal year ending December 31, four adjusting entries were needed: 1. A debit to prepaid insurance of $5,280 for a two-year fire insurance policy purchased in August. 2. A credit to rental revenue of $1,800 for revenue received in November for a three-month subrental. 3. A debit to advertising expense of $800 for materials purchased during the year, with $290 remaining on hand on December 31. 4. A debit to interest expense of $770 for interest accrued on notes payable.

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    34 views1 page

    When The Accounts of Daniel Barenboim Inc Are Examined The

    Uploaded by

    M Bilal Saleem
    When examining the accounts of Daniel Barenboim Inc. for the fiscal year ending December 31, four adjusting entries were needed: 1. A debit to prepaid insurance of $5,280 for a two-year fire insurance policy purchased in August. 2. A credit to rental revenue of $1,800 for revenue received in November for a three-month subrental. 3. A debit to advertising expense of $800 for materials purchased during the year, with $290 remaining on hand on December 31. 4. A debit to interest expense of $770 for interest accrued on notes payable.

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    © All Rights Reserved
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    When the accounts of Daniel Barenboim Inc are examined

    the
    When the accounts of Daniel Barenboim Inc. are examined, the adjusting data listed below are
    uncovered on December 31, the end of an annual fiscal period.1. The prepaid insurance
    account shows a debit of $5,280, representing the cost of a 2-year fire insurance policy dated
    August 1 of the current year.2. On November 1, Rental Revenue was credited for $1,800,
    representing revenue from a subrental for a 3-month period beginning on that date.3. Purchase
    of advertising materials for $800 during the year was recorded in the Advertising Expense
    account. On December 31, advertising materials of $290 are on hand.4. Interest of $770 has
    accrued on notes payable.InstructionsPrepare the following in general journal form.(a) The
    adjusting entry for each item.(b) The reversing entry for each item where appropriate.View
    Solution:
    When the accounts of Daniel Barenboim Inc are examined the
    SOLUTION-- http://expertanswer.online/downloads/when-the-accounts-of-daniel-barenboim-inc-
    are-examined-the/

    See Answer here expertanswer.online


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