Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
1 Whispering Winds Corp, has the following information available for accruals for the year ended December 31, 2022. The company adjusts its accounts annually. The
1 Whispering Winds Corp, has the following information available for accruals for the year ended December 31, 2022. The company adjusts its accounts annually. The December utility bill for $390 was unrecorded on December 31. Whispering Winds paid the bill on January 11 2 Whispering Winds is open 7 days a week and employees are paid a total of 53.220 every Monday for a 7-day (Monday Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28-Thursday. December 31) that they have not been paid for by year-end. Employees will be paid next on January Whispering Winds signed a $41,400,5% bank loan on November 1, 2021. due in 2 years. Interest is payable on the first day of each following month 4. Whispering Winds receives a fee from Pizza Shop next door for all pizzas sold to customers using Whispering Winds's facility . The amount owed for December is $280, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account) 5. Whispering Winds rented some of its unused warehouse space to a client for $5,520 a month payable the first day of the following month. It received the rent for the month of December on Sanuary 2. 3 Debit Credit No. Date Account Titles and Explanation Dec. 1 31 2022 2. Dec. 31, 2022 3. Dec. 31, 2022 4. Dec. 31, 2022 5. Dec. 31, 2022
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5b953e33e_164669e5b94d5e22.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5b95c76c5_165669e5b9569def.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started