Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingsAccumulated Depreciation-EquipmentAdvertising ExpenseBuildingsCashCommon StockDepreciation ExpenseDividendsEquipmentInsurance ExpenseInterest ExpenseInterest PayableLandMaintenance and Repairs ExpenseMortgage PayableNo EntryNotes PayableOwner's CapitalOwner's DrawingsPrepaid AdvertisingPrepaid InsurancePrepaid RentRent ExpenseRent RevenueRetained EarningsSalaries and Wages ExpenseSalaries and Wages PayableSales RevenueService RevenueSubscription RevenueSuppliesSupplies ExpenseTicket RevenueUnearned Rent RevenueUnearned Service RevenueUnearned Subscription RevenueUnearned Ticket RevenueUtilities Expense On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3 year insurance contract. Both cormpanies have fiscal years ending December 31.Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indenwhen the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)DateAccount TitlesDebitCreditUneamed Service RevenueService Reenue

From July 1 to Dec 31: 6 months Out of 36 months of insurance, the amount for 6 months has been…

On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3-year insurance contract. Both cormpanies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically inde when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles Debit Credit Uneamed Service Revenue Service Revenue

On July 1, 2019, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3-year insurance contract. Both cormpanies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically inde when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles Debit Credit Uneamed Service Revenue Service Revenue

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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