Devan Co began the year with $1,200 in office supplies During the year, Devan purchased $2,800 worth of additional supplies At the end of the year, Devan only had $500 worth of supplies remaining What adjusting entry must Devan make at year end Debit Supplies, $2,100 Credit Supplies Expense, $2,100 Debit Supplies Expense, $3,500 Credit Supplies, $3,500 Debit Supplies Expense, $2,100 Credit Supplies, $2,100 Debit Supplies, $3,500 Credit Supplies Expense, $3,500 Mavis Enterprises received $28,000 from a customer on October 31, 2020 for work beginning immediately and to be completed by February 28, 2021 Mavis credited the cash to Unearned Revenue As of December 31, 2020, 45 of the work had been completed What adjusting entry must Mavis make at February 28, 2021 Debit Unearned Revenue, $15,400 Credit Revenue, $15,400 Debit Revenue, $12,600 Credit Unearned Revenue, $12,600 Debit Cash, $28,000 Credit Unearned Revenue, $28,000 Debit Unearned Revenue, $12,600 Credit Revenue, $12,600 The payroll for a 5 day work week for Roger, Inc is normally $35,000 If December 31 falls on a Tuesday, how much salary must Roger accrue for the year ending December 31 and which account will be credited $35,000 Wages Payable $14,000 Wage Expense $21,000 Wages Payable $21,000 Wage Expense $35,000 Wage Expense $14,000 Wages Payable Hartmann Co provided $42,000 worth of maintenance services to a customer, Simmons Co , the last week of December 2020 Hartmann did not invoice the customer until January 3, 2021 What adjusting entry must Simmons make at December 31, 2020 No entry needed on December 31, 2020 Debit Accounts Receivable, $42,000 Credit Revenue, $42,000 Debit Maintenance Expense, $42,000 Credit Accounts Payable, $42,000 Debit Accounts Payable, $42,000 Credit Maintenance Expense, $42,000 Debit Revenue, $42,000 Credit Accounts Receivable, $42,000 Gateway Inc bought a machine on January 1, 2021 for $50,000 Gateway plans to keep the machine for 10 years What is the machines carrying value on June 30, 2023 assuming Gateway uses straight line depreciation $37,500 $50,000 $40,000 $45,000 $35,000

Question

Devan Co  began the year with $1,200 in office supplies  During the year, Devan purchased $2,800 worth of additional supplies  At the end of the year, Devan only had $500 worth of supplies remaining  What adjusting entry must Devan make at year end  Debit  Supplies, $2,100  Credit  Supplies Expense, $2,100 Debit  Supplies Expense, $3,500  Credit  Supplies, $3,500 Debit  Supplies Expense, $2,100  Credit  Supplies, $2,100 Debit  Supplies, $3,500  Credit  Supplies Expense, $3,500 Mavis Enterprises received $28,000 from a customer on October 31, 2020 for work beginning immediately and to be completed by February 28, 2021  Mavis credited the cash to Unearned Revenue  As of December 31, 2020, 45  of the work had been completed  What adjusting entry must Mavis make at February 28, 2021  Debit  Unearned Revenue, $15,400  Credit  Revenue, $15,400 Debit  Revenue, $12,600  Credit  Unearned Revenue, $12,600 Debit  Cash, $28,000  Credit  Unearned Revenue, $28,000 Debit  Unearned Revenue, $12,600  Credit  Revenue, $12,600 The payroll for a 5 day work week for Roger, Inc  is normally $35,000  If December 31 falls on a Tuesday, how much salary must Roger accrue for the year ending December 31 and which account will be credited  $35,000  Wages Payable $14,000  Wage Expense $21,000  Wages Payable $21,000  Wage Expense $35,000  Wage Expense $14,000  Wages Payable Hartmann Co  provided $42,000 worth of maintenance services to a customer, Simmons Co , the last week of December 2020  Hartmann did not invoice the customer until January 3, 2021  What adjusting entry must Simmons make at December 31, 2020  No entry needed on December 31, 2020 Debit  Accounts Receivable, $42,000  Credit  Revenue, $42,000 Debit  Maintenance Expense, $42,000  Credit  Accounts Payable, $42,000 Debit  Accounts Payable, $42,000  Credit  Maintenance Expense, $42,000 Debit  Revenue, $42,000  Credit  Accounts Receivable, $42,000 Gateway Inc  bought a machine on January 1, 2021 for $50,000  Gateway plans to keep the machine for 10 years  What is the machines carrying value on June 30, 2023 assuming Gateway uses straight line depreciation  $37,500 $50,000 $40,000 $45,000 $35,000

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Devan Co. began the year with $1,200 in office supplies. During the year, Devan purchased $2,800 worth of additional supplies. At the end of the

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