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Need help with this question please Record adjusting entries and closing entries in the general journal as of December 31 , 201 and reversing entries
Need help with this question please
Record adjusting entries and closing entries in the general journal as of December 31 , 201 and reversing entries as of January 1 , 202. (Round your answers to 2 decimal places.) 1 Record an adjustment entry for beginning inventory. 2 Record an adjustment entry for ending inventory. 3 During 20X1, the firm had net credit sales of $554,000; past experience indicates that 0.7 percent of these sales should result in uncollectible accounts. 4 On December 31,201, an inventory of supplies showed that items costing $1,120 were on hand. Record adjusting entries and closing entries in the general journal as of December 31 , 201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) 6 On January 2,201, the firm purchased office equipment for $7,340. At that time, the equipment was estimated to have a useful life of six years and a salvage value of $290. 7 On lanuary 2,201, the firm purchased warehouse equipment for $26,650. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $3,400. 8. On November 1, 20X1, the firm issued a four-month, 12 percent note for $29,000. 9 On December 31,201, the firm oved salaries of $4,400 that will not be paid until 202. Note : = journal entry has been entered Complete this question by entering your answers in the tabs below. Record adjusting entries and closing entries in the general journal as of December 31,201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) 10 On December 31,201, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax (assume 1.45 percent) on the entire $4,400 of accrued wages. 11 On December 31 ,20X1, the firm owed the federal unemployment tax (assume 0.6 percent) and the state unemployment tax (assume 5.4 percent) on the entire $4,400 of accrued wages. 12 Record the closing entry for revenue and other credit items. 13 Record the closing entry for expenses and other debit items. Note : = journal entry has been entered Complete this question by entering your answers in the tabs below. Record adjusting entries and closing entries in the general journal as of December 31,201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Assuming that the firm did not record a reversing entry for salaries payable, what entry is required when salaries of $5,800 are paid on January 3 ? Journal entry worksheet Note: Enter debits before credits. Record adjusting entries and closing entries in the general journal as of December 31 , 201 and reversing entries as of January 1 , 202. (Round your answers to 2 decimal places.) 1 Record an adjustment entry for beginning inventory. 2 Record an adjustment entry for ending inventory. 3 During 20X1, the firm had net credit sales of $554,000; past experience indicates that 0.7 percent of these sales should result in uncollectible accounts. 4 On December 31,201, an inventory of supplies showed that items costing $1,120 were on hand. Record adjusting entries and closing entries in the general journal as of December 31 , 201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) 6 On January 2,201, the firm purchased office equipment for $7,340. At that time, the equipment was estimated to have a useful life of six years and a salvage value of $290. 7 On lanuary 2,201, the firm purchased warehouse equipment for $26,650. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $3,400. 8. On November 1, 20X1, the firm issued a four-month, 12 percent note for $29,000. 9 On December 31,201, the firm oved salaries of $4,400 that will not be paid until 202. Note : = journal entry has been entered Complete this question by entering your answers in the tabs below. Record adjusting entries and closing entries in the general journal as of December 31,201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) 10 On December 31,201, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax (assume 1.45 percent) on the entire $4,400 of accrued wages. 11 On December 31 ,20X1, the firm owed the federal unemployment tax (assume 0.6 percent) and the state unemployment tax (assume 5.4 percent) on the entire $4,400 of accrued wages. 12 Record the closing entry for revenue and other credit items. 13 Record the closing entry for expenses and other debit items. Note : = journal entry has been entered Complete this question by entering your answers in the tabs below. Record adjusting entries and closing entries in the general journal as of December 31,201 and reversing entries as of January 1,202. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Assuming that the firm did not record a reversing entry for salaries payable, what entry is required when salaries of $5,800 are paid on January 3 ? Journal entry worksheet Note: Enter debits before creditsStep by Step Solution
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