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ASAP pls help a. On April 1, the company hired an attorney for April for a flat fee of $500. Payment for April legal services
ASAP pls help
a. On April 1, the company hired an attorney for April for a flat fee of $500. Payment for April legal services was made by the company on May 12. b. As of April 30, $2,089 of interest expense has accrued on a note payable. The full interest payment of $6,267 on the note is due on May 20. c. Total weekly salaries expense for all employees is $10,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3. The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. (Do not round intermediate calculations.) The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. (Do not round intermediate calculations.) Answer is not complete. No Date General Journal Debit Credit April 30 Legal services expense Legal services payable May 12 Legal services payable Cash April 30 Interest expense May 20 April 30 May 03 1 2 3 4 5 6 Interest payable Interest payable Interest expense Cash Salaries expense Salaries payable Salaries payable Salaries expense Cash >> 00 00 000 00 000 500 500 2,089 2,089 10,000 4,400 6,600 X 500 500 2,089 6,267 2,000 8,000 11,000 3 S a. On April 1, the company hired an attorney for April for a flat fee of $500. Payment for April legal services was made by the company on May 12. b. As of April 30, $2,089 of interest expense has accrued on a note payable. The full interest payment of $6,267 on the note is due on May 20. c. Total weekly salaries expense for all employees is $10,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3. The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. (Do not round intermediate calculations.) The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. (Do not round intermediate calculations.) Answer is not complete. No Date General Journal Debit Credit April 30 Legal services expense Legal services payable May 12 Legal services payable Cash April 30 Interest expense May 20 April 30 May 03 1 2 3 4 5 6 Interest payable Interest payable Interest expense Cash Salaries expense Salaries payable Salaries payable Salaries expense Cash >> 00 00 000 00 000 500 500 2,089 2,089 10,000 4,400 6,600 X 500 500 2,089 6,267 2,000 8,000 11,000 3 S Step by Step Solution
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