Answered step by step
Verified Expert Solution
Question
1 Approved Answer
jornalized the following adjustment in the journal page? Joutrafize the following adjustrmonts in the jourral page below. Use explanations for the transactions and leave a
jornalized the following adjustment in the journal page?
Joutrafize the following adjustrmonts in the jourral page below. Use explanations for the transactions and leave a space between each transaction. These ate eight (b) separafe traisactions. Do not assume that they relate to one another of are for the same. company. These companies make adjustments MONTHLY except for Iransaction WB which is for a six month period. 1. The supplies assut account balance December 31 st was $4,000, In the supply storeroom, if was determined through a count that only 52,750 7. An insurance policy hought on August 1st, 2014 for 56,000 was to last for four (4) yeark. What was the adjusting journal entry for May 31st, 2 3. Employees are paid $7,400 every two (Z) weeks. Make the adjusting entry for Jline 30th if the last payday was June 23 ard. 4. On May 25 th the Senior Accountant informs you that approximately th of all sales on account this month will likely not be collected. On May 5. On December 31, the Accounting Manager decides that all uncollectable accounts should be written off and removed from the accounts rece 6. Machinery purchased January 1 st, 2015 for 549,000 was expected to last for 40 years and would be worth 51,000 at that time. The company is 7. Office Equipment purchased for 530,000 January 1st, 2015 is amortized at the rate of 20% per year. The accumulated amortizaticn up to this F 8. A truck purchased for 520,000 has accumulated amortization of 56,000 on January 1 st and is amortized at a rate. of 10%. What's the entry for i Joutrafize the following adjustrmonts in the jourral page below. Use explanations for the transactions and leave a space between each transaction. These ate eight (b) separafe traisactions. Do not assume that they relate to one another of are for the same. company. These companies make adjustments MONTHLY except for Iransaction WB which is for a six month period. 1. The supplies assut account balance December 31 st was $4,000, In the supply storeroom, if was determined through a count that only 52,750 7. An insurance policy hought on August 1st, 2014 for 56,000 was to last for four (4) yeark. What was the adjusting journal entry for May 31st, 2 3. Employees are paid $7,400 every two (Z) weeks. Make the adjusting entry for Jline 30th if the last payday was June 23 ard. 4. On May 25 th the Senior Accountant informs you that approximately th of all sales on account this month will likely not be collected. On May 5. On December 31, the Accounting Manager decides that all uncollectable accounts should be written off and removed from the accounts rece 6. Machinery purchased January 1 st, 2015 for 549,000 was expected to last for 40 years and would be worth 51,000 at that time. The company is 7. Office Equipment purchased for 530,000 January 1st, 2015 is amortized at the rate of 20% per year. The accumulated amortizaticn up to this F 8. A truck purchased for 520,000 has accumulated amortization of 56,000 on January 1 st and is amortized at a rate. of 10%. What's the entry for Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started