logo

Accounting Relate Questions and Its Solution

Completing the accounting process for the year, Markham Industries needs to record adjusting entries for various transactions including rent collection, depreciation, insurance premium, and rent advance.

10 Pages598 Words20 Views
   

Added on  2022-08-14

Accounting Relate Questions and Its Solution

Completing the accounting process for the year, Markham Industries needs to record adjusting entries for various transactions including rent collection, depreciation, insurance premium, and rent advance.

   Added on 2022-08-14

ShareRelated Documents
Running head: ACCOUNTING
Accounting
Name of the Student
Name of the University
Author Note
Accounting Relate Questions and Its Solution_1
ACCOUNTING1
Table of Contents
Answer to Question 1...................................................................................................................2
Answer to Question 2...................................................................................................................2
Answer to Question 3...................................................................................................................3
Answer to Question 4...................................................................................................................4
Answer to Question 5...................................................................................................................5
Answer to Question 6...................................................................................................................6
Answer to Question 7...................................................................................................................6
Answer to Question 8...................................................................................................................7
Accounting Relate Questions and Its Solution_2
ACCOUNTING2
Answer to Question 1
a Accrued Revenue
b Deferred Expense
c Deferred Expense
d Deferred Revenue
e Accrued
Expenditure
f Deferred
Expenditure
g Accrued
Expenditure
Particulars Amount Amount
a Rent Expenses 1280
Rent Payable 1280
(Accrued Rent)
b Depreciation 14100
Equipment 14100
(Depreciation charged on equipment)
c Insurance expense 345
Prepaid Insurance 345
Accounting Relate Questions and Its Solution_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
End of Chapter Problem 4.6
|4
|512
|139

Exercise 3.5: No.
|2
|204
|55

Business Accounting: Trial Balance, Adjusting Entries, Adjusted Trial Balance, Closing Entries
|16
|2645
|489

Journal of Operational Research
|10
|1355
|26

BUS103: Introduction to Financial Accounting
|16
|863
|104

Total Liabilities & Equity - Assignment
|27
|3160
|23