Accrued Payroll $/$Accrued Salary & Wages

a$.$ compute the accrued wages and show the JE for the adjusting entry

Accrued Expenses: Utilities

Average utilities for last two months, July & June, were

Recelved bill in August for period ending August $10$ for

Using average for July$/$June and actual # of days for June, July, August

Account balance before adjustment

b$.$ compute the accrued utilities for August and show the JE for the adjusting entry

Accrued Expenses: Interest

Company has a Note $[$debt$]$ outstanding for $$155,000$

Interest rate per year is

You are doing accounting for the Quarter ending June $30$

Interest is paid on Sept. $30$ and interest was properly accrued in March

Account balance before adjustment

c$.$ compute the accrued interest for the Quarter ending $\frac{6}{30}$ and show the JE for the adjusting entry

Prepaid insurance

Company recelved and you are to record invoice from insurance company for liability insurance for $12$ month period ending

March $31$ of next year

Invoice recelved in APRIL and you are doing JE's for April & May

Premium for year $={?}^{}$$$30,000$

d$.$ Show JE to record insurance invoice; paid later ;

show adjusting entries as needed

Depreciation

Acquired oven on Sept. $22.$ for business use for

$$480,000$

cost to install and get ready for use in Sept $=$

$\backslash$table$[[$$$,40,000],[,30,000]]$

Estimated residual after useful life $=$$$30,000$

e$.$ Show JE for September

Compute depreciation and show adjusting entry for quarter ending