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Consider the following situations for Bookfield Welding Services: i.) (Click the icon to view the situations.) Joumalize the adjusting entry needed on December 31 for
Consider the following situations for Bookfield Welding Services: i.) (Click the icon to view the situations.) Joumalize the adjusting entry needed on December 31 for each situation Use the letters to label the journat entries. (Rocord dobits first, then credils. Select the explanation on the last line of the journal entry table.) a. Depreciation for the current year includes Equipment, $2,900 b. Each Monday, Bookfield pays employees for the previous week's work The amount of weekly payroll is $4.900 for a sever-tiay workweek (Monday to Sunday) this year, December 31 lalls on Thursday c. The beginning balance of Office Supplies was $2,400. During the year, Bookfield purchased office supplies for $3,400, and at December 31 the office supplies on hand totaled $1,700. (Assume that g. Bookfieid billed customers $3,000 for welding services performed. More info a. Depreciation for the current year includes equipment, $2,900. b. Each Monday, Bookfield pays employees for the previous week's work. The amount of weekly payroll is $4,900 for a seven-day workweek (Monday to Sunday). This year, December 31 falls on Thursday. c. The beginning balance of Office Supplies was $2,400. During the year, Bookfield purchased office supplies for $3,400, and at December 31 the office supplies on hand totaled $1,700. d. Bookfield prepaid a two full years' insurance on April 1 of the current year, $6,240 Record insurance expense for the year ended December 31 e. Bookfield had earned $3,700 of unearned revenue. f. Bookfield had incurred (but not recorded) $140 of interest expense on a note payable. The interest will not be paid until February 28. g. Bookfield billed customers $3,000 for welding services performed. The boginning balance of Othice Supplies was \$2,400. During the year. Booklield purchesed office supplies for $3,400, and at December 31 the ulfice supplies on hand fotaied $1,700. Assume that iookfield debits sh asset account when supplies are purchased. g. Bookfield billed customers $3,000 for welding services performed
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