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Consider the following situations for Mineral Bluf Welding Services: A (Click the icon to view the situations.) Journalize the adjusting entry needed on December 31
Consider the following situations for Mineral Bluf Welding Services: A (Click the icon to view the situations.) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Depreciation for the current year includes Equipment, $2,300. Accounts and Explanation Date Debit Credit More Info (a) Dec. 31 a. Depreciation for the current year includes equipment, $2,300. b. Each Monday, Mineral Bluf pays employees for the previous week's work. The amount of weekly payroll is $6,300 for a seven-day workweek (Monday to Sunday). This year, December 31 falls on Thursday. c. The beginning balance of Office Supplies was $2,300. During the year, Mineral Bluf purchased office supplies for $3,400, and at December 31 the office supplies on hand totaled $1,700. b. Each Monday, Mineral Bluf pays employees for the previous week's work. The amount of weekly payroll is $6,300 for a seven-day workweek (Monday to Sunday). This year, Ded Accounts and Explanation Date Debit Credit d. Mineral Bluf prepaid a two full years' insurance on October 1 of the current year, $5,760. Record insurance expense for the year ended December 31. (b) Dec. 31 e. Mineral Bluf had earned $2,900 of unearned revenue. f. Mineral Bluf had incurred (but not recorded) $100 of interest expense on a note payable. The interest will not be paid until February 28. g. Mineral Bluf billed customers $4,000 for welding services performed. Print Done c. The beginning balance of Office Supplies was $2,300. During the year, Mineral Bluf purchased office supplies for $3,400, and at December 31 the office supplies on hand totaled Accounts and Explanation Date Debit Credit (c) Dec. 31 d. Mineral Bluf prepaid a two full years' insurance on October 1 of the current year, $5,760. Record insurance expense for the year ended December 31. (When the policy was purchased on October 1, assume that Mineral Bluf debited an asset account.) Accounts and Explanation Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next
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