Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

fill out journal entries please Credit Debit $ 6 2 2 8 OONNO $ 1 6 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation

fill out journal entries please
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Credit Debit $ 6 2 2 8 OONNO $ 1 6 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals 1 5 0 0 0 0 0 12 5 0 0 0 0 0 0 0 $ 24 $ 24 Transactions during 2021 (summarized in thousands of dollars) f Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed $32 cash on July 1, 2021, signing a six-month note payable. b. Purchased equipment for $35 cash on July 2, 2021. c. Issued additional shares of common stock for $6 on July 3. d. Purchased software on July 4, $2 cash. e. Purchased supplies on July 5 on account for future use, $8. f. Recorded revenues on December 6 of $66, including $9 on credit and $57 received in cash. g. Recognized salaries and wages expense on December 7 of $40; paid in cash. h. Collected accounts receivable on December 8, $8. 1. Paid accounts payable on December 9. $9. 7. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2022. Data for adjusting journal entries on December 31: ES k. Amortization for 2021. $1. 1. Supplies of $2 were counted on December 31, 2021. m. Depreciation for 2021, $3. n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $4. p. Income tax expense for 2021 was $3 and will be paid in 2022. (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100).) Journal entry worksheet Journal entry worksheet View transaction list Journal entry worksheet Journal entry worksheet HERE. 9 10 11 12 13 14 17 Accrued interest of $1 on notes payable. Record the adjusting entry. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal Prev 1 of 1 Next > Journal entry worksheet Journal entry worksheet Journal entry worksheet 10 11 12 13 14 15 16 17 Record entry to close revenue and expense accounts to retained earnings. Combine the closing of revenue and expenses into one entry. Note: Enter debits before credits. General Journal Debit Credit Date December 31. 2021 Record entry Clear entry View general journal Prev 1 of 1 Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Michael J. Jones

2nd Edition

0470017791, 978-0470017791

More Books

Students explore these related Accounting questions