The Accounting Cycle.

The company is 80% done on a $50,000 contract for services but have not billed the client yet.
On December 1st the company purchased a one-year insurance policy on behalf of their executives for $12,000 and debited prepaid insurance.
The companies last pay period ends on December 24th. The biweekly payroll is consistent at $500,000 per pay period.
Interest payment on the company bonds ($1,000,000 face value, 6%) is made semiannually on January 15th and July 15th.
The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running $5,000 per month.
The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st.
The direction has also asked the following questions:

Will these transactions require an adjusting entry? Why?
Is it an accrual or deferral and give your justification?
What are the accounts that will be debited and credited for this entry?
The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Benefits of our college essay writing service

  • 80+ disciplines

    Buy an essay in any subject you find difficult—we’ll have a specialist in it ready

  • 4-hour deadlines

    Ask for help with your most urgent short tasks—we can complete them in 4 hours!

  • Free revision

    Get your paper revised for free if it doesn’t meet your instructions.

  • 24/7 support

    Contact us anytime if you need help with your essay

  • Custom formatting

    APA, MLA, Chicago—we can use any formatting style you need.

  • Plagiarism check

    Get a paper that’s fully original and checked for plagiarism

What the numbers say?

  • 527
    writers active
  • 9.5 out of 10
    current average quality score
  • 98.40%
    of orders delivered on time
error: