Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer please Journalize the following December 31 transactions for Mineral Bluff Printing Services. No explanations are required. (Click the icon to view the transactions.) a.

answer please image text in transcribed
image text in transcribed
Journalize the following December 31 transactions for Mineral Bluff Printing Services. No explanations are required. (Click the icon to view the transactions.) a. Equipment cost $22,000 and is expected to be useful for 10 years, at which time it will have no residual value. Calculate and record amortization for the current year. (Record debits first, then credits. Exclude explanations from journal entries.) a. Equipment cost $22,000 and is expected to be useful for 10 years, at which time it will have no residual value. Calculate and record amortization for the current year. b. Each Monday, Mineral Bluff pays employees for the previous week's work. The amount of weekly payroll is $2,100 for a seven-day workweek (Monday to Sunday). This year December 31 falls on a Thursday. c. The beginning balance of Supplies was $2,700. During the year, Mineral Bluff purchased supplies for $2,700, and at December 31 , the supplies on hand totalled $1,600. d. Mineral Bluff prepaid one year of insurance coverage on April 1 of the current year, $4,560. Record insurance expense for the year ended December 31. e. Mineral Bluff earned $2,800 of unearned revenue. f. Mineral Bluff incurred $190 of interest expense on a note payable that will not be paid until February 28. g. Mineral Bluff billed customers $9,000 for printing services performed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions