Laughter Landscaping has the following independent cases at the end of the year on December 31, 2014
Debbie Asked: Laughter Landscaping has the following independent cases at the end of the year on December 31, 2014
prepaid insurance of $4500 Laughter prepays a full year's insurance each year on January 1. Record insurance expense for the year ended December 31.
c. The beginning balance of Supplies was $4,000. During the year, Laughter purchased supplies for $5,200, and at December 31 the supplies on hand total $2,400.
d. Laughter designed a landscape plan, and the client paid Laughter $7,000 at the start of the project. Laughter recorded this amount as Unearned service revenue. The job will take several months to complete, and Laughter estimates that the company has earned 60% of the total revenue during the current year.
e. Depreciation for the current year includes Equipment, $3,700; and Trucks, $1,300. Make a compound entry.
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- Laughter Landscaping has the following independent cases at the end of the year on December 31 2014
- depreciation for the current year includes equipment $3 700; and trucks $1 300 make a compound entry
- Laughter Landscaping has the following independent cases at the end of the year on December 31
- the beginning balance of supplies was $4 000 during the year laughter purchased supplies for $5 200 and at december 31 the supplies on hand total $2 400
- d laughter designed a landscape plan and the client paid laughter $7 000 at the start of the project laughter recorded this amount as unearned service revenue the job will take several months to complete and laughter estimates that the company has earned
- Lughter Landscaping
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