===================================================================================== ACC 421 Final Exam Guide( New)
ACC 421 WEEK 5 INDIVIDUAL ASSIGNMENT STATEMENT OF CASH FLOWS PAPER( 2 Papers)
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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;