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ACC 557 Week 2 Chapter 3 (E3-6, E3-7, E3-11, P3-2A)
E3-6 : Orwell company accumulates the following adjustment data at
December 31
a)
The type of adjustment ............
b)
The status of accounts before adjustment............
E3-7 : The ledger of Villa Rental Agency on march 31 of the current
year includes the selected accounts, shown below, before adjusting
entries have been prepared. ............
An analysis of the accounts shows the following. Prepare the adjusting
entries at March 31, assuming that adjusting entries are
made quarterly. Additional accounts are: Depreciation Expense,
Insurance Expense, Interest Payable, and Supplies Expense.
E3-11 : A partial adjusted trial balance of Ruiz Company at January
31, 2014, shows the following. ............
a) If the amount in Supplies Expense is the January 31 adjusting
entry, and $670 of supplies was purchased in January, what was the
balance in Supplies on January 1? ............
b) If the amount in Insurance Expense is the January 31 adjusting
entry, and the original insurance premium was for one year, what was
the total premium and when was the policy purchased? ............
c)
If $3,300 of salaries was paid in January, what was the balance
in Salaries and Wages Payable at December 31, 2013? ............