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For the first 2 required I tried to solve it, but don't know if my inputs are correct. For required #4 please help answer 1-6
For the first 2 required I tried to solve it, but don't know if my inputs are correct.
For required #4 please help answer 1-6 (make sure to use bullets a-f).
Thank you
The Unadjusted Trial Balance for Hawkeye Ranges as of December 31 is presented in requirement 1. The following additional information relates to the required year-end adjustments. a. As of December 31, employees had earned $1,062 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,890 of salaries will be paid. b. The cost of supplies still available at December 31 is $3,198. c. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $1,275. The next interest payment, at an amount of $1,530, is due on January 15. d. Analysis of the unearned member fees account shows $6,634 remaining unearned at December 31. e. In addition to the member fees included in the revenue account balance, the company has earned another $10,681 in unrecorded fees that will be collected on January 31. The company is also expected to collect $8,000 on that same day for new fees earned in January f. Depreciation expense for the year is $15,080. Required: 1. Complete the six-column table by entering adjustments that reflect the above information. 2. Prepare journal entries for the adjustments entered in the six-column table for Requirement 1. 3. Prepare journal entries to reverse the effects of the adjusting entries that involve accruals. 4. Prepare journal entries to record the cash payments and cash collections described for January. (Assume reversing entries were prepared.) Required 1 Required 2 Required 3 Required 4 Complete the six-column table by entering adjustments that reflect the above information. HAWKEYE RANGES Partial Work Sheet December 31 Unadjusted Trial Balance Adjusted Trial Balance Adjustments Dr. Cr. Account Title Dr. Cr. Dr. Cr. Cash $ 15,400 $ 0 10,681 15,400 10,681 3,198 157,080 3,316 6,514 157,080 $ 30,159 15,080 45,239 0 Accounts receivable Supplies Equipment Accumulated depreciation Equipment Interest payable Salaries payable Unearned member fees Notes payable P. Hawkeye, Capital P. Hawkeye, Withdrawals Member fees earned 1,275 1,062 1,275 1,062 0 9,952 6,634 16,586 51,000 78,517 51,000 78,517 23,100 23,100 62,832 20,633 83,465 0 33,175 Depreciation expense-Equipment Salaries expense Interest expense Supplies expense Totals 3,825 15,080 1,062 1,275 3,316| 41,366 $ 15,080 34,237 5,100 3,316 267,192 $ 0 $ 239,094 $ 239,094 $ 41,366 $ 267,192 Required 1 Required 2 > Required 1 Required 2 Required 3 Required 4 Prepare journal entries for the adjustments entered in the six-column table for Requirement 1. View transaction list View journal entry worksheet x No Transaction General Journal Debit Credit 1 a. Salaries expense 1,062 Salaries payable 1,062 2 b. 3,316 Supplies expense Supplies 3,316 C. 1,275 Interest expense Interest payable 1,275 4 d. Unearned member fees 9,952 Member fees earned 9,952 5 e 10,681 Accounts receivable Member fees earned 10,681 6 f. 15,080 Depreciation expense-Equipment Accumulated depreciation Equipment 15,080 Required 1 Required 2 Required 3 Required 4 Prepare journal entries to reverse the effects of the adjusting entries that involve accruals. (If no reversing entry is required, select "No reversing entry required.") View transaction list View journal entry worksheet . No Transaction General Journal Debit Credit 1 a Salaries payable Salaries expense 2 b. No reversing entry required 3 C. Interest payable Interest expense 4 d. No reversing entry required 5 e. Member fees earned Accounts receivable 6 f. No reversing entry required Required 2 Required 4 > Required 1 Required 2 Required 3 Required 4 Prepare journal entries to record the cash payments and cash collections described for January. (Assume reversing entries were prepared.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 > As of December 31, employees had earned $1,062 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,890 of salaries will be paid. Note: Enter debits before credits. Date General Journal Debit Credit Jan 04 Record entry Clear entry View general journalStep by Step Solution
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