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$ 900$900.
31
The business sold supplies to another physician for cost of
$400.
31
The business borrowed
30,000,
signing a note payable to the bank.
31
The business paid
$600
on account.
E3-22A
Clark Truck Rentals Company faced the following situations.
a.
The business has interest expense of $ 3,000
that it must pay early in January 2015
b.
Interest revenue of $4,500 has been earned but not yet received.
c.
On July 1, 2014, when the business collected $13,900 rent in
advance, it debited Cash and credited Unearned Rent Revenue. The
tenant was paying for two years' rent.
d.
Salary expense is $5,500 per daylong dash—Monday through
Friday dash—and
the business pays employees each Friday. For the purpose of this
calculation, assume
December 31 falls on a Thursday.
e.
The unadjusted balance of the Supplies account is $3,000.
The total cost of supplies on hand is $ 1,500.
f.
Equipment was purchased at the beginning of this year at a cost
of $120,000.