Hi, we have a little accounting questions relating to adjusting entries. Can someone greatfully answer a questions I’ve been since as well as afterwards we can review them with my answers.
Please usually answer a Questions we know we can do. as well as we dont have to do them all if u dont wish to. Just do a few. But hopefully with a couple of opposite people’s anwers, they can all be covered.
Perhaps people can give me a little tips as well as recommendation upon what we should be doing/how they would get an answer. So it’ll give me an thought if my answers have been right.
Thanks so most

a. essence Insurance is paid annually in early January, for a volume of $ 66,000. The word process covers all a company’s machine from 12.01am upon January 1. The word is available as an responsibility when paid as well as a monetary year ends upon Apr 30. Record a adjusting entrance upon Apr 30.

b. Julie Sues as well as Partners is behaving for a patron who is concerned in a law fit with a former customer. At a finish of a monetary year, Julie sues as well as partners calculates an volume of $ 55,000 in authorised fees has been incurred upon their client’s seductiveness though not billed yet. Record a adjusting entrance for Julie Sues as well as partners.

c. Slim Investments invested $ 10,000,000 in a tenure deposition upon February 15, 2008. Interest is paid after a single year as well as seductiveness rates have been 9% per annum. Record a adjusting entrance for Slim Investments upon Jun 30, 2008 (no need to equate days, only operate 1/2 months).

d. Mark available a $ 1,350 paid upon Apr 1, 2008 for his latest Gym Membership as an asset. which remuneration allows total operate of a Gym for eighteen months with no some-more to pay. Record Mark’s adjusting entrance if his monetary year finished upon Jul 31, 2008. (count months not days)

e. The commercial operation has a prepaid phone. They paid $ 250 for a phone as well as perceived $ 150 of prepaid calls. The squeeze of a phone was available as an asset. Record a adjusting entrance if $ 60 value of calls has been done by a finish of a monetary year.

f. In January 2008, Tiru perceived remuneration of $ 65,000 for a series of motivational speeches he was to benefaction after in a year. He available these profits as revenue. By a finish of a monetary year (June thirty 2008), $ 15,000 of a performances had been completed. Record a adjusting entrance for Tiru.
[Can we additionally do this incident though if Tiru available a profits as an item - thanks]

g. Pro Investment Bank has supposed investments of $ 27,000,000 upon May 1, 2008. Interest is paid after a single year as well as seductiveness rates have been 15% per annum. Record a adjusting entrance for Pro Investment Bank upon Jun thirty 2008 (count months not days).