Lahey Advertising Company’s trial balance at December 31 shows Supplies $8,800 and Supplies Expense $0. On December 31, there are $1,100 of supplies on hand. (a1)     Prepare the adjusting entry at December 31.

At the end of the year, Dahir Incorporated’s balance of Allowance for Uncollectible Accounts is $1,500 (credit) before adjustment. The company estimates future uncollectible accounts to be $7,500.   What adjusting entry would Dahir record for Allowance for Uncollectible Accounts? (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Prepare a journal entry on December 23 for the withdrawal of $22,500 by Graeme Schneider for personal use. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

The Allowance balance is a $200 credit before adjustment. Uncollectible accounts are estimated to be $2,000. The adjusting entry to record uncollectible accounts is: GENERAL JOURNAL 1 2 1 2 Date Chapter 8-Receivables Now, the adjusting entry to record uncollectible accounts is: GENERAL JOURNAL Description a. Description If the Allowance balance started with a $200 DEBIT balance and uncollectible accounts are estimated to be $2,000. Date с. Post ref Debit Post ref Note: Bad Debt Expense estimate in the prior year was wrong, it was not an error. It was still a good faith estimate and the apparent violation of the matching principle is allowed under GAAP. Age Interval Not Past Due 1-30 days past due Debit At the end of the current year, the accounts receivable account has a debit balance of $1,400,000 and sales for the year total $15,350,000. Determine the amount of the adjustment needed. Page Credit The allowance account before adjustment has a debit balance of $23,000. Bad debt expense…

Presented below are year-end adjusted account balances for Grouper Co. Insurance expense $11,160 Salaries and wages expense 55,230 Rent expense 22,430 Sales discounts 12,590 Inventory 26,260 Sales returns and allowances 15,640 Cost of goods sold 212,780 Sales revenue 411,350 Freight-out 7,930 Prepare the necessary closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

ss.  Subject :- Accounting

Pp.53. Subject :- Account