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  • Impala Window Washing Services Prepares Adjustments Monthly and Shows The

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    Hassan Jan
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    Impala Window Washing Services prepares monthly adjusting entries on its trial balance. The document provides information about prepaid expenses and equipment rental costs to prepare adjusting journal entries for December 31, 2014, including prepaid insurance, prepaid office rent, prepaid subscriptions, and equipment rental costs. If the adjustments are not recorded, accounts like expenses and prepaid expenses would be misstated on the financial statements.

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    Impala Window Washing Services prepares monthly adjusting entries on its trial balance. The document provides information about prepaid expenses and equipment rental costs to prepare adjusting journal entries for December 31, 2014, including prepaid insurance, prepaid office rent, prepaid subscriptions, and equipment rental costs. If the adjustments are not recorded, accounts like expenses and prepaid expenses would be misstated on the financial statements.

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    © All Rights Reserved
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    129 views1 page

    Impala Window Washing Services Prepares Adjustments Monthly and Shows The

    Uploaded by

    Hassan Jan
    Impala Window Washing Services prepares monthly adjusting entries on its trial balance. The document provides information about prepaid expenses and equipment rental costs to prepare adjusting journal entries for December 31, 2014, including prepaid insurance, prepaid office rent, prepaid subscriptions, and equipment rental costs. If the adjustments are not recorded, accounts like expenses and prepaid expenses would be misstated on the financial statements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Impala Window Washing Services prepares adjustments

    monthly and shows the #4307


    Impala Window Washing Services prepares adjustments monthly and shows the following
    selected accounts on its December 31, 2014, unadjusted trial balance:Required Prepare the
    required monthly adjusting entries at December 31, 2014, based on the following additional
    information:a. The remaining balance in Prepaid Insurance was for a six-month insurance policy
    purchased for $7,200 and in effect on September 1, 2014.b. $4,800 of the balance in Prepaid
    Office Rent had not been used as at December 31, 2014.c. $1,100 of the balance in Prepaid
    Subscriptions had been used as at December 31, 2014.d. The company paid $32,400 on April
    1, 2014, to rent equipment for a three-year period beginning April 1, 2014.Analysis Component:
    If the above adjustments were not recorded, identify the types of accounts that would be
    affected and if they would be over- or understated.View Solution:
    Impala Window Washing Services prepares adjustments monthly and shows the

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