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120 points Saved Help Sav (The following information applies to the questions displayed below.) Boomer Co. reported the following events in 2021, the first year
120 points Saved Help Sav (The following information applies to the questions displayed below.) Boomer Co. reported the following events in 2021, the first year of operations: 1. Issued common stock for $55,000. 2. Paid $14,000 for 1-year of rent from April 1, 2021, to March 31, 2022. 3. Provided services to customers on account for $112,000. 4. Incurred operating expenses on account of $45,000. 5. Received $85,500 cash from customers on account. 6. Paid $41,000 to employees for 2021 salaries. 7. Pald $36,000 on account. Adjusting Entries 8. Recorded adjusting entry for rent used in 2021 (from 2 above.) 9. Recorded adjusting entry for $6,400 of accrued salaries owed at the end of 2021. Events for 2022 1. Paid $6,400 for the salaries accrued at the end of 2021. 2. Provided services for cash of $61,000. 3. Purchased $4,800 of supplies on account. 4. Paid $16,500 for 1-year of rent April 1, 2022 to March 31, 2023. 5. Provided services to customers on account for $128.000. 6. Incurred operating expenses on account of $61,500. 7. Received $109,000 from customers on account. 8. Paid $59,000 on account. 9. Paid $33,500 to employees for 2022 salaries. 10. Paid $11,000 in dividends to stockholders Adjusting Entries 11. Recorded adjusting entry for rent used in 2022. (Hint Part of the rent was paid in 202t: rent per month is not the same in each month in 2022.) 12. Recorded adjusting entry for supplies. At the end of the year. $450 of supplies were still on hand. Proy 12 3 7 ot 8 !!! Next > 1151 Journal entry worksheet B D E G Record Issuance of common stock. Note: Enter debits before credits Event General Joumal Debit Credit 1 Record entry Clear entry View general Journal View transaction list Journal entry worksheet D E F G H Record cash pald in advance for rent. Note: Enter debits before credits Event General Journal Debit Credit 2 Record entry Clear entry View general Journal a. Record the events and adjusting entries for 2021 in general journal form. (Do not round Intermediate required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Part 1 of 7 Journal entry worksheet 3 Doints Record operating expenses incurred on account. eBook Note: Enter debits before credits General Journal Debit Credit Event 4 Record entry Clear entry View general Journal View transaction list :X A Record issuance of common stock. B Record cash paid in advance for rent. C Record services performed on account. D. Record operating expenses incurred on account. E Record entry for cash collected on account. Cred F Record cash paid for 2021 salaries. G Record cash paid on account. H Record adjusting entry for rent used in 2021. Note : = Journal entry has been entered Record entry Clear entry View genera
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