Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

h. Bears, Inc. is open five days a week and has a daily payroll of $4,600. Employees are paid every Friday. Assume December 31 is

h. Bears, Inc. is open five days a week and has a daily payroll of $4,600. Employees are paid every Friday. Assume December 31 is a Wednesday. The payroll is allocated as follows: 20% of the payroll relates to office employees, and the balance relates to sales employees.

i. Depreciation for store equipment has been calculated to be $1,400 per month.

j. Depreciation for office equipment has been calculated to be $800 per month.

Need help putting this into an adjusting journal entry. Please help

'k. Utilities expenses of $1,300 were incurred, but not yet recorded. Utilities expense is allocated as follows: 25% relates to the office and the balance relates to the store.

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

Step: 3

blur-text-image

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

More Books

Students also viewed these Accounting questions

Question

Explain what scatter diagrams show and why we use them.

Answered: 1 week ago