Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam

Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam Accrued interest on notes receivable is $30. $1,000 of unearned service revenue has been recognized. Three years’ rent, totaling $45,000, was paid in advance at the beginning of the year. Services totaling $2,900 had Read more…

Prepare the required end-of-period adjusting entries for each independent case – MGMT 30A Midterm 1 Practice Exam

MGMT 30A Midterm 1 Practice Exam –  Prepare the required end-of-period adjusting entries for each independent case Prepare the required end-of-period adjusting entries for each independent case listed below. Case 1 The Thoma Company began the year with a $3,000 balance in the Supplies account. During the year, $8,500 of Read more…

The Golden Petting Zoo operates a drive-through tourist attraction in Colorado – MGMT 30A Midterm 1 Practice Exam

MGMT 30A Midterm 1 Practice Exam – The Golden Petting Zoo operates a drive-through tourist attraction in Colorado The Golden Petting Zoo operates a drive-through tourist attraction in Colorado. The company adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries Read more…

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