# college Accounting

The ledger of Piper Rental Agency on March 31 of the current year includes the following
selected accounts before adjusting entries have been prepared.
Debit Credit
Prepaid Insurance \$ 3,600
Supplies 2,800
Equipment 25,000
Accumulated
Depreciation—Equipment \$ 8,400
Notes Payable 20,000
Unearned Rent 9,900
Rent Revenue 60,000
Interest Expense –0–
Wages Expense 14,000
An analysis of the accounts shows the following.
1. The equipment depreciates \$400 per month.
2. One-third of the unearned rent was earned during the quarter.
3. Interest of \$500 is accrued on the notes payable.
4. Supplies on hand total \$700.
5. Insurance expires at the rate of \$200 per month.
Instructions
Additional accounts are: Depreciation Expense, Insurance Expense, Interest Payable, and
Supplies Expense.

1. 2
1. using 20x4 as the base year prepare a trend analysis for the following data and tell whether the results suggest a favorable or unfavorable trend. round your answers to one decimal place
20x6 20x5 20x4
net sales 158,000 136,000 112,000
accounts receivable (net)43,000 (20x6) 32,000 (20x5) 21,000 (20x4)

posted by warkia

## Similar Questions

1. ### computer science

draw a level 0 diagram as well as a context diagram for the following scenario When renting a car from Banz Car Rental Agency, persons renting a car from the agency will be given a brochure of the type of vehicle, insurance on
2. ### accounts

January 1,07 S.Henry sales ledger appear D Fung \$200 and C Manley \$120.On february 1 Henry accept \$150 from D.Fung and march 10, C.Manley was declared bankrupt.a payment of 30cent in \$ was receive in full settlement. Show how
3. ### math

One car rental agency charges \$20 per day plus \$0.25 per mile. A different agency charges \$37 per day with unlimited mileage. For what mileages is the second rental a better deal? Set up as an inequality
4. ### accounting

cost of rental equipment is \$486,902, accum. amortization is \$418,713, net book value for 2006 is \$68,169 and 2005 is \$74,018. Amortization of rental equipment for the year amounted to \$22,205 (2005 - \$14,379). i need to calculate
5. ### math

Car rental agency A charges \$50 per day plus 10 cents per mile driven. Agency B charges \$20 per day plus 30 cents per mile driven. For a one-day rental it is cheaper to rent from agency A if you drive more than?
6. ### math

Car rental agency A charges \$50 per day plus 10 cents per mile driven. Agency B charges \$20 per day plus 30 cents per mile driven. For a one-day rental it is cheaper to rent from agency A if you drive more than?
7. ### Math

A car rental agency charges \$44.12 per day plus mile for a certain type of car How much is the rental charge for a 3 days trip of 605 miles?
8. ### chemistry

A piper delivers 9.97 g of water at 20c. what volume does piper deliver?
9. ### accounting

On February 3, Ron Brown was billed for an office visit. What action should the medical office professional take upon aging accounts receivable on March 1 of the same year? A. Give Mr. Brown a tactful collection call. B. Send Mr.
10. ### math

March 1- \$550 rent (check) March 2- \$286 tuition (check) March 3- \$200 paycheck March 4- 275 bookstore check March 5- \$60 withdrawn from ATM March 6- \$40 food (debit) March 7- \$45 date desert March 8- N/A March 9- \$40 gas March 10

More Similar Questions