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Question 1
No. Date Account Titles and Explanation Debit Credit 1. Jan. 11, 2023 2. Jan. 4, 2023 3. Jan. 1, 2023 4. Jan. 4, 2023 5. Jan. 2, 2023Question 3 of 5 - / 20 E View Policies Current Attempt in Progress Swifty Corporation 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 $325 was unrecorded on December 31. Swifty paid the bill on January 11. 2. Swifty is open 7 days a week and employees are paid a total of $2.560 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. Swifty signed a $34.200, 5%% bank loan on November 1, 2021, due in 2 years. Interest is payable on the first day of each following month. 4. Swifty receives a fee from Pizza Shop next door for all pizzas sold to customers using Swifty's facility. The amount owed for December is $230, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account) 5. Swifty rented some of its unused warehouse space to a client for $4,560 a month, payable the first day of the following month. It received the rent for the month of December on January 2.Question 4 of 5 - /40 Trial Balance August 31, 2022 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $11,320 $11,320 Accounts Receivable 8,310 8,840 Supplies 2.910 1,880 Prepaid Insurance 4.060 2.690 Equipment 16.000 16.000 Accumulated Depreciation-Equipment $3,600 $4,800 Accounts Payable 5,180 5,180 Salaries and Wages Payable 0 1,280 Unearned Rent Revenue 1,860 1,050 Common Stock 15,460 15,460 Retained Earnings 5,050 5,050 Dividends 2,570 2,570 Service Revenue 33,620 34,150 Rent Revenue 13,620 14,430 Salaries and Wages Expense 16.170 17450 Supplies Expense 0 1,030 Rent Expense 17,050 17,050 Insurance Expense 0 1,370 Depreciation Expense 0 1.200 $78,390 $78,390 $81,400 $81,400Pina Colada Corp. adjusts its accounts annually. The following information is available for the year ended December 31, 2020. 1. Purchased a 1-year insurance policy on June 1 for $2,280 cash. 2. Paid $5,900 on August 31 for 5 months' rent in advance. 3. On September 4, received $3,060 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $1,200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,650 in advance from a gaming club. Determined that on December 31, $400 of these games had not yet been played.No. Date Account Titles and Explanation Debit Credit 1. June 1, 2020 Prepaid Insurance 2280 Cash 2280 2. Aug. 31, 2020 # Prepaid Rent 5900 Cash 5900 3. Sept. 4, 2020 Cash 3060 Unearned Service Revenue 3060 4. Nov. 30, 2020 + Prepaid Cleaning 2400 v Cash 2400 5. Dec. 5, 2020 Cash 1650 Unearned Service Revenue 1650No. Date Account Titles and Explanation Debit Credit v 1. Dec. 31, 2020 Insurance Expense 1330 Prepaid Insurance 1330 v 2. Dec. 31, 2020 Rent Expense 4720 Prepaid Rent 4720 3. Dec. 31, 2020 Unearned Service Revenue 1360 Service Revenue 1360 V 4. Dec. 31, 2020 Maintenance and Repairs Expense 1200 Prepaid Cleaning 1200 5. Dec. 31, 2020 Unearned Service Revenue 1250 Service Revenue 1250
