Total Mineral Base
Total Mineral Base
1. The total caloric intake on a food label is based on how many calories?


2. Minerals have no caloric value and thus do not contribute as an energy resource, but they are important in regulating various bodily functions.
True
False

3. Which of the following affects the amount of total cholesterol in your body?
heredity
diet
regular exercise
all of the above

4. LDL, or low density lipoprotein, is considered the bad cholesterol.

True
False

Are you needing answers to these questions b/c you do not want to do your homework? LOL JK

1. 1200-1500 (The label will tell you what it's based on)
2. True
3. All of the above (This one I guessed on)
4. True? (I really have no idea)

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Summer Makeup Essentials



How do I journalize the following entries?


There are a few questions of my homework that i do not understand.
Journalize the adjusted entries:
1. estimated uncollectible accounts at dec 31, $7200, based on an aging of accounts receivable. The balance of allowance for doubtful accounts at dec. 31 was $750 (debit)
2. the physical inventory on dec 31 indicated an inventory shrinkage of $1480
3. prepaid insurance expired during the year, $10200
4. office supplies used during the year, $1760
5. a patent costing $22500 when acquired on january 2 has a remaining legal life of 10 years and is expected to have value for 5 years
6. the cost of mineral rights was $220000. of the estimated deposit of 400000tons of ore, 24000tons were mined and sold during the year
7. vacation pay expense for dec, $4800
8.a product warrant was granted beginning dec 1 and covering a one year period. the estimated cost is 2.5% of sales, which totaled $840,000 in dec.
9. interest was accrued on a $40,000, 120-day, 6% note

THANK YOU!

1. estimated noncollectable accounts at dec 31, $7200, based on an aging of accounts receivable. The balance of allowance for doubtful accounts at dec. 31 was $750 (debit)

Since the credit balance needs to be increased to $7,200, the entry would be:
Dr Bad Debt Expense 7,950
Cr Allowance for Doubtful Accounts 7,950

2. the physical inventory on dec 31 indicated an inventory shrinkage of $1480

Dr Inventory Short and Over 1,480
Cr Inventory 1,480

3. prepaid insurance expired during the year, $10200

Dr Insurance Expense 10,200
Cr Prepaid Insurance 10,200

4. office supplies used during the year, $1760

Dr Supplies Expense 1,760
Cr Supplies 1,760

Although these adjusting entries do take some thought, they are not that difficult. You just have to calculate how much of an expense has accrued or how much of an asset has been used up during the time frame. Good luck.