Ben Cartwright Pest Control has the following balances in selected accounts on December 31, 2010.
All of the accounts have normal balances. The information below has been gathered at December 31, 2010.
1. Depreciation on the equipment for 2010 is $1,250.
2. Ben Cartwright Pest Control borrowed $12,500 by signing a 10%, one-year note on July 1, 2010.
3. Ben Cartwright Pest Control paid $1,980 for 12 months of insurance coverage on October 1, 2010.
4. Ben Cartwright Pest Control pays its employees total salaries of $10,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2010, employees were paid for the week ending December 24, 2010. All employees worked the five days ending December 31, 2010.
5. Ben Cartwright Pest Control performed disinfecting services for a client in December 2010. The client will be billed $3,000.
6. On December 1, 2010, Ben Cartwright Pest Control collected $36,000 for disinfecting processes to be performed from December 1, 2010, through May 31, 2010.
7. A count of supplies on December 31, 2010, indicates that supplies of $750 are on hand.
Instructions
Prepare in journal form with explanations, the adjusting entries for the seven items listed for Ben Cartwright Pest Control.
Correct Answer:
Verified
Q180: The adjusted trial balance of Rocky Acre
Q181: Gwynn Company has an accounting fiscal year
Q182: The Aces, a semi-professional baseball team, prepare
Q183: On Friday of each week, Earle Company
Q184: For each of the following accounts, indicate
Q186: The following ledger accounts are used by
Q187: Prepare the required end-of-period adjusting entries for
Q188: On July 1, 2010, Patrick Company pays
Q189: Trench and Fog Garment Company purchased equipment
Q190: The Poway Animal Encounters operates a drive
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents