Buildings has a $$20,000$ salvage value and a $25$ year life.

Buildings has a $$20,000$ salvage value and a $25$ year life.

The company received $$18,000$ from a tenant for a $1$ year lease with a commencement date of

$\frac{9}{1}\frac{?}{21}.$

$1\%$ of sales revenues are expected to be uncollectible as of $\frac{12}{31}\frac{?}{21}.$

The company has $2$ employees that earn $$5000$ each per week and one employee that earns

$8000$ per week. The employees work a $5$ day work week and are paid every Friday for work

performed through Friday. $12/31/21$ is a Wednesday. $1.)$ Record the adjusting entry for

$\frac{12}{31}\frac{?}{21}.2.)$ Record the payment of wages $\frac{1}{2}\frac{?}{21}$ with and without reversing entries.

During $2021,$ the company paid $$12,000$ for a one year advertising campaign that commenced

on $\frac{8}{1}\frac{?}{21}.$

The company paid $$12,000$ for a $1$ year fire policy with an effective date of May $1,2021.$

Equipment has a $$50,000$ salvage value and a $8$ year life.

The company received a $$40,000,12\%,6$ month note from a customer on $\frac{9}{1}\frac{?}{21}.1.)$ Record

the adjusting entry for $\frac{12}{31}\frac{?}{21}.2.)$ Record the receipt of payment $\frac{2}{28}\frac{?}{22}$ with and without

reversing entries.

During the year the company purchased $$2,500$ in supplies of which $$900$ remain on hand @

$\frac{12}{31}\frac{?}{21}.$

The company received $$25,000$ in advance for services to be rendered in the future. As of

$\frac{12}{31}\frac{?}{21}$ the company had earned $$10,000.$

The company paid $$18,000$ for a one year lease that commenced on $\frac{6}{1}\frac{?}{21}.$