(Learning Objective 3: Adjust the accounts) Answer the following questions aboutprepaid expenses:a. On March 1, Meadow Tree Service prepaid $7,200 for six months’ rent. Give theadjusting entry to record rent expense at March 31. Include the date of the entry and anexplanation. Then post all amounts to the two accounts involved, and show their balancesat March 31. Meadow adjusts the accounts only at March 31, the end of its fiscal year.b. On March 1, Meadow Tree Service paid $1,050 for supplies. At March 31, Meadow has$400 of supplies on hand. Make the required journal entry at March 31. Then post allamounts to the accounts and show their balances at March 31. Assume no beginningbalance in supplies

On August 1, 20x1, your company provided lawn service to Duke's Basketball Camp for $35.99.  Mr. Duke paid you with a check immediately upon the completion of the service.   When you looked at the Accounts Receivable Aging report at the end of the month, you noticed that Duke's Basketball Camp still had an open balance.   Per review of the activity in Duke's account, what was wrong with the transaction on August 1? Teacher Feedback: The issue  - did the accountant use the proper form?  Review the differences between a sales receipt and a sales invoice.

Please read the questions carefully the First question is asking for journal entry.

On May 1, Sport Planet of Toledo prepaid six months of rent, $3,300. Read the requirements. Requirement 1. Record the journal entry for the May 1 payment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Мay 1 Requirements Requirement 2. Record the adjusting entry required at May 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 1. Record the journal entry for the May 1 payment. 2. Record the adjusting entry required at May 31. Date Accounts and Explanation Debit Credit 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances at May 31. (Ignore the Cash account.) May 31 Print Done Requirement 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances at May 31. (Ignore the Cash account.) Post the journal entry and…

(Learning Objective 4: Journalize and post transactions) Orman Consulting performed services for a client who could not pay immediately. Orman expected to collect the$4,600 the following month. A month later, Orman received $2,100 cash from the client.1. Record the two transactions on the books of Orman Consulting. Include an explanation foreach transaction.2. Post to these T-accounts: Cash, Accounts Receivable, and Service Revenue. Compute eachaccount balance and denote it as Bal.

On November 1, Cooper Equipment had a beginning balance in the Office Supplies account of 5600.. During the month, Cooper purchased $1,100 of ofice suap es. At November 30, Cooper Equipment had S200 of offce suppies on hand Read the reguirenents Requirement 1 The Office Supplies T-account has been opened for you. Enter the beginning balance and ourchase of office supplies. Use "Nov 1" as a posting refesente to erte the begnng balance and "Nov. surchases as a posting reference to post the purchase of office supplies during the month.) Office Supplies Nov 1 600 O Requirements 1 The Office Supplies T-account has been opened for you Enter the beginning balance and purchase of office supplies. 2. Record the adusting entry required at Novemoer 30 3. Post the adusting entry to twe hao accounts invoved, and shoN ther balances at iovembeot Print Done

In November, Year 2, your accounting firm placed a one-time website advertisement with Today's CPA.  This is your first ad with this vendor.  You pay for the one-time advertising with your company's Citibank Visa credit card.   Below is the transaction you completed for this purchase.  If you run the report Transaction List by Vendor, for all dates, what dollar amount will appear under the vendor Today's CPA?   Why? Teacher Feedback:  was the expense form completed properly?

The first project for the semester will involve the following items to turn in: 1) Journal entries for financial transactions I will provide you. 2) An adjusted trial balance. 3) An Income statement.     1) On December 1 of 2019 Harold Hammer deposited $ 15,100 in a bank account in the name of Huaning Corporation in exchange for shares of common stock in the corporation. 2) On December 1 of 2019 Huaning Corporation purchased supplies on account for $ 226 . 3) On December 4 of 2019 Huaning Corporation received cash of $ 384 for product sold to the customer. 4) On December 5 of 2019 Huaning Corporation paid the vendor for the December 1st purchase of supplies. 5) On December 6 of 2019 Huaning Corporation purchases supplies on account for $ 469 .6) On December 8 of 2019 Huaning Corporation sells product for $ 445 on account to a customer.7) On December 9 of 2019 Huaning Corporation sells product for $ 462 on account to a customer. 8) On December 10 of 2019 Huaning Corporation paid, in…

Brian Burns uses perpetual inventory system and LIFO All credit sales discounts are recorded using the net method – customers receive a 3 percent discount if they pay within 30 days. Purchase discounts are recorded using the net method All depreciation is straight line.   Additional Information for Journal Entries   Brian Burns records accruals for utilities expense as an adjusting journal entry at the end of each year. They pay utilities once a year on January 31st for the prior year. NOTE: There is no payment for utilities on January 31st of 2022 because January 1 of 2022 is the first day of operations.     January 1          Sold 10,000 shares of common stock for $95 per share.                                                     Borrowed $2,000,000 at 8 percent with interest payable semi-annually (on July 1 and January 1).   Purchased 1,000 units of inventory at $150 a piece on credit from Biggie Smalls Inc. Terms are 2/10; n/60   Paid $480,000 for 2 years of rent in advance…

(Learning Objective 4: Journalize and post transactions) Consultant Mary Gervaispurchased supplies on account for $4,300. Later Gervais paid $3,450 on account.1. Journalize the two transactions on the books of Mary Gervais, Consultant. Include anexplanation for each transaction.2. Open a T-account for Accounts Payable and post to Accounts Payable. Compute thebalance and denote it as Bal.3. How much does the business owe after both transactions? In which account does thisamount appear?