Annual adjusting entries

by | Aug 8, 2021 | Assignment

1. Vissar Foods paid 2,400 for 12 months of insurance coverage on June 1, 2020. 2. On December 1, 2020, Vissar collected 40,000 for consulting services to be performed from December 1, 2020, through March 31, 2021. 3. A count of supplies on December 31, 2020, indicates that supplies of 600 are on hand.


Prepare the annual adjusting entries needed at December 31, 2020.* $3 . 20 ( 1.0 5) Vissar Foods has the following balances in selected accounts on December 31 ,2020.

Journalize adjusting entries .Service Revenue$ 40, 000Insurance Expense2, 400Supplies Expense2 , 450 All the accounts have normal balances. Vissar Foods debits prepayments to expense accounts when paid , and credits unearned revenues to revenue accounts when received. The following*information below has been gathered at December 31 , 2020. 1. Vissar Foods paid E’2 , 400 for 12 months of insurance coverage on June 1, 2020 .

2 . On December 1 , 2020, Vissar collected $ 40, 000 for consultation services to be performed from December 1, 2020 , through March 31, 2021 .3 . A count of supplies on December 31, 2020 , indicates that supplies of EGoo are on hand.


Prepare the annual adjusting entries needed at December 31, 2020.

We help you get better grades, improve your productivity and get more fun out of college!!

Homework Answers Online

Free title page

Free reference page

Free formatting

Unlimited revisions

WhatsApp chat

How it works – it’s easy


Place your Order

Submit your requirements through our small easy order form. Be sure to include and attach any relevant materials.

Make a payment

The total price of your order is based on the type of assignment, number of pages, academic level and deadline.


Order process

We assign the assignment to the most qualified tutor. When the tutor completes the assignment, it is transferred to one of our professional editors to ensure that the assignment meets all of your requirements.

Once complete, we’ll send your assignment via the email provided on the order form and you’ll be able to download it. 

Achieve academic success with the best online tutors