Accounting

   The annal of Hetrick Company and Frear Corporation appearance the afterward information. Prepare account entries, if required, to acclimatize the books of Hetrick Company or Frear Corporation, as noted. The budgetary year for both companies ends December 31.      (A) On December 1, 2017, Hetrick Company accustomed a hire   payment for appointment amplitude busy to Frear Corporation. Because Frear has a actual poor acclaim   rating, Hetrick appropriate an beforehand acquittal of hire   for eighteen months. The acquittal of $225,000   cash was for the afterward eighteen months and was accustomed to deferred hire   revenue back it was received. Almanac   the aboriginal access Hetrick fabricated back acquittal was accustomed on December 1,   2017. Date Account Names Debits Credits 01-Dec-17            Calculations:       (B) Refer to (A) above. Almanac the access Hetrick should accept made, if any, to acclimatize the books   before the   close of the year concluded December 31, 2017, to almanac hire acquirement becoming in   December. Date Account Names Debits Credits 31-Dec-17            Calculations:       (C) Refer to (A)   above. If, on December 1, 2017, back   Hetrick Company accustomed the hire acquittal   of $225,000 for appointment amplitude busy to Frear Corporation, the accountant for   Hetrick accustomed   rent acquirement instead of deferred hire revenue, what access should Hetrick accept   made, if any,   before the abutting of the year concluded December 31, 2017 to almanac hire acquirement   earned in December? Note: You may appetite to accede advancing assorted entries   to complete this adjustment.  Date Account Names Debits Credits 31-Dec-17            Calculations:         (D) Refer to (A)   above. On December 1, 2017, back Frear   Corporation fabricated the acquittal to Hetrick   Company in beforehand for eighteen months of rent, accretion $225,000, Frear’s   accountant debited   Prepaid Hire Bulk for the absolute amount. Almanac the aboriginal access fabricated by Frear.  Date Account Names Debits Credits 01-Dec-17            Calculations:       (E) Refer to (D) above. Almanac the access Frear should accept made, if any, to acclimatize the books   before the   close of the year concluded December 31, 2017, to almanac hire bulk incurred in   December. Date Account Names Debits Credits 31-Dec-17            Calculations:       (F) Refer to (D)   above. If, on December 1, 2017, back   Frear Corporation fabricated the beforehand hire acquittal   of $225,000, the accountant for Frear debited hire bulk instead of prepaid   rent expense, what access should Frear accept made, if any, afore the abutting of   the year concluded December 31, 2017 to almanac bulk   incurred in December? Note: You may appetite to adapt assorted entries for this   adjustment.  Date Account Names Debits Credits 31-Dec-17            Calculations:      (G) Short article question: What observations do you accept about the above-mentioned problems (A) through (F),  comparing and allegory the accounting for the hire acquittal by the two companies?             (H) On September 1, 2017, Frear Corporation adopted   $1,200,000 from Hetrick Company, signing an apart promissory note. The accommodation is for 3 years, at 7 percent   annual interest. The arch and absorption are payable at the ability   date. The afterward access was fabricated by   Frear’s accountant back Frear accustomed the accommodation bulk and active the   promissory note.  dr. Cash  $1,200,000 cr.   Note Payable $1,200,000    Frear makes account entries for the accretion of absorption     incurred for the loan. What is the     monthly access Frear should accept fabricated for the ages of November 2017, if any,     for absorption bulk incurred for the loan.   Date Account Names Debits Credits   30-Nov-17     Calculations:      (I) Refer to (H) above. The afterward access was fabricated by Hetrick’s   accountant back Hetrick fabricated the accommodation to Frear: dr. Agenda   Receivable $1,200,000 cr.   Cash $1,200,000    Hetrick makes account entries for the accretion of absorption     earned for the loan. What is the account     entry Hetrick should accept fabricated for the ages of December 2017, if any, for     interest bulk becoming for the loan.   Date Account Names Debits Credits   31-Dec-17     Calculations:    (J) Short article question: What observations do you accept about the above-mentioned problems (H) and (I),  comparing and allegory the accounting for the accommodation and accompanying absorption by the two companies?                   (K) On September 1, 2018, Hetrick Company purchased and   installed automatic accessories for their accomplishment process. Hetrick paid $2,000,000 for the equipment,   making a bottomward acquittal of $500,000 and costs the butt of the acquirement   price with a accommodation from Citizens Bank, signing a promissory note. Almanac the access Hetrick should accept fabricated   for the accretion of the equipment.      Date Account Names Debits Credits   01-Sep-18       Calculations:      (L) Refer   to (K) above. Hetrick estimated that   the advantageous activity of the automatic accessories is 5 years, or 60 months, and it   will accept a deliver amount of $200,000 afterwards the end of its advantageous life.     Hetrick makes account entries for abrasion bulk     for the automatic equipment. What is     the account access Hetrick should accomplish for the ages of December 2018, if     any, for abrasion expense.   Date Account Names Debits Credits   31-Dec-18     Calculations:         (M) On June 1, 2018, Frear Company anchored an allowance policy,   for eighteen months of coverage,   beginning August 1, 2018. The absolute   premium of $54,000 was paid on that date. Prepaid   Insurance Bulk was debited at the time of the payment.   Frear annal the allowance bulk   incurred for this action on a account basis. What access   should Frear accept fabricated for the ages of September 2018?    Date Account Names Debits Credits   30-Sep-18         Calculations:      (N) Refer to (K) above. The accommodation that Hetrick appropriate to acquirement the automatic accessories is   for fifteen months, and the arch and absorption is due on the ability   date.  What is the ability date of the loan? Enter your acknowledgment here:     The absorption amount for the accommodation is 8%, per annum.  If Hetrick accrues absorption bulk account for the   interest associated with the loan, what access should Hetrick accomplish in   December, 2018 for accrued interest, if any?      Date Account Names Debits Credits   31-Dec-18       Calculations:    (O) Refer to (N) above. How abundant absolute absorption bulk will Hetrick pay for the accommodation ?  Enter your acknowledgment here:     Calculations:    For anniversary of the acclaimed items from above, announce by autograph in the box the blazon of adjusting access required, from these options (the aboriginal one is accustomed as an example): Accrued Expense, Accrued Revenue, Deferred Expense, Deferred Revenue, Account for Estimate    B Deferred Revenue   C   E   F   H   I   L   M   N

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