9- Which of the following accounts will be closed by debiting the Income Summary? a) Depreciation Expense b) Accounts Payable c)O Service Revenue d) Prepaid Expense Boş bırak

2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers based on where they would be placed in the chart of accounts. Miscellaneous Expense Utilities Expense Answer: Type answer here. 3. Prepare a T account for each transaction. Label the account title for each account affected. Use the chart for accounts you created in question 1. Write the debit and credit amounts for each T account to show how the accounts are affected. The first one is done. c. Received cash from owner, Roger Fisher, as an investment, $10,000.00 d. Paid cash for insurance, $ 2, 400.00 e. Bought supplies on a account to Salmon Slayers, $600.00 Paid cash for fuel, $500.00 Paid cash to owner, Roger Fisher, for personal use, $1,250.00

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Sandhill Company issued $2,400,000 of 10%, 10-year bonds on January 1, 2017, at 103. Interest is payable semiannually on July 1 and January 1. Sandhill Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.5281%. Prepare the journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The issuance of the bonds. (b) The payment of interest and related amortization on July 1, 2017. (c) The accrual of interest and the related amortization on December 31, 2017.