Answered step by step
Verified Expert Solution
Question
1 Approved Answer
All the accounts have normal balances. The information below has been gathered at December 31,2022 . Interest will be paid when the note is repaid.
All the accounts have normal balances. The information below has been gathered at December 31,2022 . Interest will be paid when the note is repaid. 1. Carla Vista Company borrowed $9,400 by signing a 9%, one-year note on September 1,2022. 2. A count of supplies on December 31,2022 , indicates that supplies of $800 are on hand. 3. Depreciation on the equipment for 2022 is $1,900. 4. Carla Vista paid $2,640 for 12 months of insurance coverage on June 1,2022. 5. On December 1,2022, Carla Vista collected $32,000 for consulting services to be performed evenly from December 1,2022 , through March 31, 2023. 6. Carla Vista performed consulting tservices for a client in December 2022 . The client will be billed $4,300. 7. Carla Vista pays its employees total salaries of $5,100 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26 . All employees worked the last 3 days of 2022. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. Current Attempt in Progress Carla Vista Company has the following balances in selected accounts on December 31, 2022. All the accounts have normal balances. The information below has been gathered at December 31,2022 . Interest will be paid when the note is repaid. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid. 1. Carla Vista Company borrowed $9,400 by signing a 9\%, one-year note on September 1, 2022. 2. A count of supplies on December 31,2022 , indicates that supplies of $800 are on hand. 3. Depreciation on the equipment for 2022 is $1,900. 4. Carla Vista paid $2,640 for 12 months of insurance coverage on June 1,2022. 5. On December 1,2022 , Carla Vista collected $32,000 for consulting services to be performed evenly from December 1,2022 , through March 31, 2023. 6. Carla Vista performed consulting services for a client in December 2022 . The client will be billed $4,300. 7. Carla Vista pays its employees total salaries of $5,100 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26 . All employees worked the last 3 days of 2022. Prepare adjusting entries for the seven items described above. Devin Wolf prepares adjustments annually. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Carla Vista Company has the following balances in selected accounts on December 31, 2022. All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started