Emily Consultants Company has a fiscal year ending December 31. For each of the following independent situations, indicate the journal entry by selecting the appropriate account descriptions and enter the amount(s). The first transaction is used as an example. Independent Situations a. Accrued wages, unrecorded and unpaid at year-end, $540. b. Service revenue earned but not yet collected at year-end, $740.1 c. Dividends declared during the year, $1,040, to be paid next year. d. Office supplies on hand during the year, $540; supplies on hand at year-end, $300 e. Service revenue collected from customers in advance during the year, $1,640 f. Depreciation expense for the year, $1,140. g. Eamed all but $940 of (e) by the end of the year. h. Sold $3,400 in investments at a gain of $290. L Interest on $12,000, 8 percent note payable (borrowed on October 1 of this year); not yet recorded or paid at year end j. Indicate the closing entry based on balances at year-end in the following accounts: j. Service revenue, $200,000 j. Interest revenue, $105 Gain on sale of investments, $290 j. Wage expense, $144,000 Check my work Debit Crede Account Amount Account Wage Expense 540 Wages Payable Next Independent amuations a. Accrued wages, unrecorded and unpaid at year-end, $540. b. Service revenue earned but not yet collected at year-end, $740 c. Dividends declared during the year, $1,040, to be paid next year. d. Office supplies on hand during the year, $540; supplies on hand at year-end, $300. e. Service revenue collected from customers in advance during the year. $1,040 f. Depreciation expense for the year, $1,140 g. Earned all but $940 of (e) by the end of the year. h. Sold $3,400 in investments at a gain of $290 Interest on $12,000, 8 percent note payable (borrowed on October 1 of this year); not yet recorded or paid at year end. Indicate the closing entry based on balances at year-end in the following accounts J Service revenue, $200,000 j. Interest revenue, $105 j. Gain on sale of investments, $290 Wage expense, $144,000 Depreciation expense, $1,1401 J. Interest expense, $240 Supplies expense, $240 J. Dividends payable, $1,040 J. Income tax expense. $2,500 Account Wage Expense Prey 3 of 4 Next > Amount 540 Wages Payable Check my work Emily Consultants Company has a fiscal year ending December 31. For each of the following independent situations, indicate the journal entry by selecting the appropriate account descriptions and enter the amount(s). The first transaction is used as an example. independent Situations a Accrued wages, unrecorded and unpaid at year-end, $540, b. Service revenue eamed but not yet collected at year-end, $740) c. Dividends declared during the year, $1,040, to be paid next year. d. Office supplies on hand during the year, $540; supplies on hand at year-end, $300, e. Service revenue collected from customers in advance during the year, $1,640. Depreciation expense for the year, $1,140, g Earned all but $940 of (e) by the end of the year. n. Sold $3,400 in investments at a gain of $290. Interest on $12,000, 8 percent note payable (borrowed on October 1 of this year); not yet recorded or paid at year end. Indicate the closing entry based on balances at year-end in the following accounts: j. Service revenue, $200,000 Interest revenue, $105 Gain on sale of investments, $290 Wage expense, $144,000 Debit Credit Account Amount Account Wage Expense 540 Wages Payable < Prev 3 of 4 Next > Independent situations a. Accrued wages, unrecorded and unpaid at year-end, $540. b. Service revenue earned but not yet collected at year-end, $740,1 c. Dividends declared during the year, $1,040, to be paid next year. d. Office supplies on hand during the year, $540; supplies on hand at year-end, $300 e. Service revenue collected from customers in advance during the year, $1,640, t. Depreciation expense for the year, $1,140. 9 Eamed all but $940 of (e) by the end of the year. h. Sold $3,400 in investments at a gain of $290. Interest on $12,000, 8 percent note payable (borrowed on October 1 of this year); not yet recorded or paid at year end Indicate the closing entry based on balances at year-end in the following accounts Service revenue, $200,000 j. Interest revenue, $105 Gain on sale of investments, $290 J. Wage expense, $144,000 Depreciation expense, $1.140 j. Interest expense, $240 J. Supplies expense, $240 j. Dividends payable, $1,040 J. Income tax expense, $2,500 Wage Expense Account Amount Account 540 Wages Payable Check my work onsultants Company has a fiscal year ending December 31. For each of the following independent situations, indicate the entry by selecting the appropriate account descriptions and enter the amount(s). The first transaction is used as an example. Independent Situations ed wages, unrecorded and unpaid at year-end, $540. e revenue earned but not yet collected at year-end, $740. nds declared during the year, $1,040, to be paid next year. supplies on hand during the year, $540; supplies on hand at year-end, $300. e revenue collected from customers in advance during the year, $1,640. ciation expense for the year, $1,140, d all but $940 of (e) by the end of the year. 13,400 in investments at a gain of $290. t on $12,000, 8 percent note payable (borrowed on October 1 of this year); not yet I or paid at year end. e the closing entry based on balances at year-end in the following accounts: rice revenue, $200,000 est revenue, $105 1 on sale of investments, $290 je expense, $144,000 Debit Account Amount Account Wage Expense 540 Wages Payable Prev 3 of 4 Next > Credit Amount