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Presentation/PPT
27/08/2022
Answer questions 26-30 please don’t understand the process and steps to get there.
Use the following to answer the next five questionsSAMANTHA, INC.Unadjusted Trial BalanceDecember 31, 2012DRCRCash$36,600Accounts Receivable3,000Supplies500Equipment18,500Accumulated Depreciation – Equipment2,000Accounts Payable6,000Retained Earnings4,000Common Stock37,700Fee Revenue17,000Salaries Expense2,700Insurance Expense500Rent Expense4,800Interest Expense10066,700$ 66,70026.At December 31, 2012 there were $300 of supplies on hand. The adjusting entry would include aA.debit to Supplies Expense of $300.credit to Supplies Expense of $200.debit to Supplies of $300credit to Supplies of $200.awiNone of the above27.The Equipment was purchased on January 1, 2011. It has a useful life of eight years and an estimated salvage value of $2,500. The adjusting entry atDecember 31, 2012 would include a:debit to Depreciation Expense -Equipment for $4,000.debit to Accumulated Depreciation -Equipment for $2,000.credit to Depreciation Expense -Equipment for $2,000.m5owcredit to Equipment for $2,000.none of the aboveOn August 1, 2012, Samantha paid the landlord $4,800 for one year’s rent in advance. The adjusting entry at December 31, 2012 would include a28.credit to Cashdebit to Rent Payabledebit to Rent Expensedebit to Prepaid Rentnone of the aboveOn October 1, 2012, Samantha received $7,000 in advance for fees to be earned evenly over seven months beginning on that date. When Samantha29received the money on October 1, 2012, Fee Revenue was credited. The required adjusting journal entry at December 31, 2012 would include a:A.credit to Cashcredit to Fee RevenueMOdebit to Unearned Fee Revenuedebit to Fee Revenuenone of the aboveRefer to the previous question. The amount of the adjusting journal entry at December 31, 2012 would be:30$ 3,000$ 4,000$ 1,000$ 7,000none of the above
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