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34 a,b,c and d 6 34. (3 points for each journal entry) ABC prepares adjusting entries once a year at December 31 Prepare December 31
34 a,b,c and d
6 34. (3 points for each journal entry) ABC prepares adjusting entries once a year at December 31" Prepare December 31 year-end entries for each of the following situations (Hint be aware of datest) a. On August 1. ABC was given 54.600 to perform work. The entire amount was originally credited to Uneared Service Revenue. At December 31, ABC determined that $3,100 of the work had been earned during the year. b. The Notes Payable account showed a balance of $100.000 from a 9 month, 10% noto. The note was dated (taken out) on September 1 of the current year and will be repaid on June 1 of the following year c. The company operates every week-day (Monday - Friday) of the year with a daily payroll of $12,000. Wago earners are paid every Sunday for the prior week's work. The last day of the year is Tuesday (December 31). d. The asset account Supplies had a balance of $1,400 at the start of the year. During the year, the company added to the account by purchasing $8,000 of supplies. A year-end count of supplies showed $950 of supplies on hand at December 31 Step by Step Solution
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