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question the pre paid insurance account had a balance of 4 750 at the beginning of t 4289806

Question

The pre-paid insurance account had a balance of $4, 750 at the beginning of the year. The account was debited for $2, 150 for premiums on policies purchased during the year. Journalize the appropriate entry at year-end based on the following situations: (1)The amount of unexpired insurance applicable to future periods is $2, 30; (2) The amount of insurance expired during the year is $2, 250. Jones Realty Company pays weekly salaries of $8,000cm on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Tuesday. The balance in the unearned fees(liability) account, before adjustment at the end of the year, is $6,000. Prepare the required adjusting entry if the amount of unearned fees at year end is $2, 400. The estimated amount of depreciation on equipment for the current year is $3, 200. Journalize the adjusting entry to record the depreciation. The balance in the equipment account is $129,000, and the balance in the accumulated depreciation-equipment account is $82,000. What is the equipment book value?

 

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