ADM 1340 Study Guide - Financial Statement, Royal Bank Of Canada, Retained Earnings

• School: University of Ottawa
• Department: Administration
• Course: ADM 1340
• Professor: All

Document Summary

The journal entry for the years 2012 and 2013 will be the same: Accumulated depreciation vehicles (,000 5 = ,000 per year) Expired in 2012 = ,000 7/12 = ,500. Unexpired at december 31, 2012 = ,000 5/12 = ,500 (b) (c) (1) bere ltd. = supplies used per item 5 (,000) + adjusted balance in supplies (b) ,000 = balance per dividends on adjusted trial balance. = balance per retained earnings on adjusted trial (d) = ,000 + revenue earned but not yet billed (,000) per item 1. (e) ,500 expired per item 4 of ,500. = prepaid insurance per trial balance (,000) less insurance (f) ,000 paid (,000 per item 2. ) = salary expense (,000) + salaries incurred but not yet (g) = accumulated depreciation per trial balance (,000) + (i) Since the performance by westjet is not complete until the flight actually occurs, revenue should not be recognized until december.