===================================================================================== ACC 421 Final Exam Guide ( New )
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===================================================================================== ACC 421 Final Exam Guide ( New )
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Transactions for Mehta Company for the month of May are presented below . Prepare journal entries for each of these transactions .
On July 1 , 2014 , Crowe Co . pays $ 15,000 to Zubin Insurance Co . for a 3-year insurance policy . Both companies have fiscal years ending December 31 . For Crowe Co ., journalize the entry on July 1 and the adjusting entry on December 31 .
Dresser Company ’ s weekly payroll , paid on Fridays , totals $ 8,000 . Employees work a 5-day week . Prepare Dresser ’ s adjusting entry on Wednesday , December 31 , and the journal entry to record the $ 8,000
Side Kicks has year-end account balances of Sales Revenue $ 808,900 ; Interest Revenue $ 13,500 ; Cost of Goods Sold $ 556,200 ;