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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Question:
Journalize the required returns! Include excel formula in your answer

Transcribed Image Text:Before
After
Difference Reason
Adjustment Adjustment
Rp
Rp
Rp
150
Interest still has to be received
150 Interest earned but not received
Equipment
Prepaid Insurance
interest is paid in advance
Equipment load
Insurance Expense
1,240
510
730 Depreciation charged on equipment
640 Insurance expired
80 Prepaid interest
730 Depreciation charged on equipment
640 Insurance Expense
1,860
1,220
80
730
640
Interest income
400
550
150 Interest earned but not received
Interest Expense
360
280
80 Prepaid interest

Transcribed Image Text:Date
Particulars
L/F Debit(Rp) Credit(Rp)
1
Interest receivable
150
Interest income
150
(To record the adjustment of interest receivable)
2 Depreciation expense
730
Equipment load
730
|(To record the depreciation expense of equipment)
3 Insurance expense
640
Prepaid insurance
640
(To record the insurance expense)
4 Prepaid interest
80
Interest expense
|(To record the prepaid interest)
80
Expert Solution
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- Further info is in the attached images For the Excel part of the question give the solutions in the form of the Excel equations. Please and thank you! :) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B34 enter the formula "= B9". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. Check your worksheet by changing the beginning work in process inventory to 100 units, the units started into production during the period to 2,500 units, and the units in ending work in process inventory to 200 units, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the cost per equivalent unit for materials should now be $152.50 and the cost per equivalent unit for conversion should be $145.50. Thank you!arrow_forwardIn SAP Business ByDesign Built-In Analytics, which of the following tasks can business users perform using interactive analysis options in charts? Show/hide key figure values using the interactive legend. Change the color of chart values (bars, pie pieces, . ..) Zoom into values. Modify key figures please choose 2 correct answers aboarrow_forwardshow journal entry (for part b) assuming estimate is considered to be accurate. and show a journal entry (from part b) assuming the amount is large enough to intentionally impact decision of users.arrow_forward
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