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A review of the ledger of Crane Company at December 3 1 , 2 0 2 5 , produces these data pertaining to the preparation
A review of the ledger of Crane Company at December produces these data pertaining to the preparation of annual adjusting entries. Prepaid Insurance $ The company has separate insurance policies on its buildings and its motor vehicles. Policy on the building was purchased on July for $ The policy has a term of years. Policy A on the vehicles was purchased on January for $ This policy has a term of months. Unearned Rent Revenue $ The company began subleasing office space in its new building on November At December the company had the following rental contracts that are paid in full for the entire term of the lease. tableDatetableTermin monthsMonthly Rent,tableNumber ofLeasesNov$Dec$ Notes Payable $ This balance consists of a note for months at an annual interest rate of dated October Salaries and Wages Payable $ There are ten salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $ each per week, and five employees earn $ each per week. Assume December is a Wednesday. Employees do not work weekends. All employees worked the last days of December. Prepare the adjusting entries at December List all debit entries before credit entries. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
A review of the ledger of Crane Company at December produces these data pertaining to the preparation of annual adjusting entries.
Prepaid Insurance $ The company has separate insurance policies on its buildings and its motor vehicles. Policy on the building was purchased on July for $ The policy has a term of years. Policy A on the vehicles was purchased on January for $ This policy has a term of months.
Unearned Rent Revenue $ The company began subleasing office space in its new building on November At December the company had the following rental contracts that are paid in full for the entire term of the lease.
tableDatetableTermin monthsMonthly Rent,tableNumber ofLeasesNov$Dec$
Notes Payable $ This balance consists of a note for months at an annual interest rate of dated October
Salaries and Wages Payable $ There are ten salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $ each per week, and five employees earn $ each per week. Assume December is a Wednesday. Employees do not work weekends. All employees worked the last days of December.
Prepare the adjusting entries at December List all debit entries before credit entries. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
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