Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

January. 11, 2023 debit and credit January 4th, 2023 debit and credit January 1, 2023 debit and credit january 4th, 2023 debit and credit january

image text in transcribed

January. 11, 2023 debit and credit January 4th, 2023 debit and credit January 1, 2023 debit and credit january 4th, 2023 debit and credit january 2, 2023 debit and credit

Documenti Word wout References Mailings Review View H elp Layout Table Design 2 AA A-DA. ES: AaBbceDc Aabbcc AaBbc AaBbc A 1 Normal 1 No Spac... Heading 1 Heading 2 Paragraph Styles Whispering Winds Corp. has the following information available for accruals for the year ended December 31, 2022. The company adjusts its accounts annually. 1. The December utility bill for $390 was unrecorded on December 31. Whispering Winds paid the bill on January 11. 2. Whispering Winds is open 7 days a week and employees are paid a total of $3,220 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28- Thursday, December 31) that they have not been paid for by year-end Employees will be paid next on January 4. 3. Whispering Winds signed a $41,400, 5% bank loan on November 1, 2021, due in 2 years Interest is payable on the first day of each following month 4. Whispering Winds receives a fee from Pizza Shop next door for all pizzas sold to customers using Whispering Winds.s facility. The amount owed for December is $280, which Pizza Shop will pay on January 4. (Hint Use the Service Revenue account.) 5. Whispering Winds rented some of its unused warehouse space to a client for S5.520 a month payable the first day of the following month. It received the rent for the month of December on January 2 For each situation prepare the journal entry to record the subsequent cash transaction in 2023 DF DA Oe

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

Merchandising Math A Managerial Approach

Authors: Doris Kincade, Fay Gibson, Ginger Woodard

1st Edition

0130995886, 978-0130995889

More Books

Students also viewed these Accounting questions