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A) Conan Industries collected $100,000 from customers in 2019. Of the amount collected $25,000 was from revenue eamed on account in 2018. In addition, Conan
A) Conan Industries collected $100,000 from customers in 2019. Of the amount collected $25,000 was from revenue eamed on account in 2018. In addition, Conan earned $40,000 of revenue in 2019, which will not be collected until 2020. Instructions prepare adjusting entries and post revenues in ledger in 31\12\2019 B) Conan Industries also paid $78,000 for expenses in 2019. of the amount paid $30,000 was for expenses incurred on account in 2018. In addition, Conan incurred $42,000 of expenses in 2019, which will not be paid until 2020, Instructions: prepare adjusting entries and post expenseses in ledger in 31\122019 C) Prepaid Insurance $9,900. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2018, for $7,200. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2019, for $4,500. This policy has a term of 2 years Instructions prepare adjusting entries and post insurance policy in ledger in 31/12.2019 D) Salaries Payable So. There are eight salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $700 each per week, and three employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December Instructions: prepare adjusting entries and post salaries expense in ledger in 31/12/2019
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