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Need help with this question. Thank you in advance Save Homework: Homework Chapter 11 Score: 0 of 50 pts 6 of 6 (4 complete) P11-25A
Need help with this question. Thank you in advance Save Homework: Homework Chapter 11 Score: 0 of 50 pts 6 of 6 (4 complete) P11-25A (similar to) HW Score: 29.97%, 29.97 of 100 pt Question Help The general ledger of U-R- Shipping at June 30, 2018, the end of the company's fiscal year, includes the following account balances before payroll and adjusting entries (Click the icon to view the account balances.) The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: (Click the icon to view the additional information.) (Click the icon to view payroll tax rate information) Read the requirements Requirements 1 and 2. Using the T-accounts opened for you, insert the unadjusted June 30 balances. Journalize and post the June 30 adjusting entries to the accounts. Identify each adjusting entry by letter. Round to the nearest dollar We will start with Requirement 2. joumalizing the journal entries, to assist us in posting to the T-accounts. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. The long-term debt is payable in annual installments of 566,000, with the next installment due on July 31. On that date, U-R- Shipping will also pay one year's interest at 9%. Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at year-end. Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer Clear All Check Answer work Chapter 11 6 of 6 (4 complete) June 30, 2018, the end of the company's fiscal year, includes the following acc ances. payrol nformat i Data Table $ 112,000 ounts op ay letter. lizing the rual installe y 31 of the Accounts Payable Interest Payable Salaries Payable Employee Income Taxes Payable FICA-OASDI Taxes Payable FICA-Medicare Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Uneared Rent Revenue Long-Term Notes Payable ooooooo nts and EX 6,900 330,000 Print Done number in the input fields and then click Check Answer ework Chapter 11 6 of 6 (4 complete) June 30, 2018, the end of the company's fiscal year, includes the following accour alances.) in 0 More Info o > Jai a. The long-term debt is payable in annual installments of $66,000, with the next installment due on July 31. On that date, U-R-Shipping will also pay one year's interest at 9%. Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at year-end. Gross unpaid salaries for the last payroll of the fiscal year were $4,200. Assume that employee income taxes withheld are $890 and that all earnings are subject to OASDI. C. Record the associated employer taxes payable for the last payroll of the fiscal year, $4,200. Assume that the earnings are not subject to unemployment compensation taxes. d. On February 1, the company collected one year's rent of $6,900 in advance. 37 Print Done umber in the input fields and then click Check Answer 105_2010_LULUI ework Chapter 11 6 of 6 (4 complete) HWS at June 30, 2018, the end of the company's fiscal year, includes the following account bala balances.) the payroll and adjusting entries at June 30 are as follows: al information.) (Click the icon to view payroll tax rate information.) * More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 eamed; Medicare: 1.45% on all earnings. Print Done number in the input fields and then click Check Answer. DO mework Chapter 11 6 of 6 (4 complete) HW SC bing at June 30, 2018, the end of the company's fiscal year, includes the following account balan sunt balances.) plop the payroll and adjusting entries at June 30 are as follows: itional information.) (Click the icon to view payroll tax rate information.) O Requirements ent jou ble na on 1. Using the T-accounts opened for you, insert the unadjusted June 30 balances. 2. Journalize and post the June 30 payroll and adjusting entries to the accounts. Identify each adjusting entry by letter. Round to the nearest dollar. 3. Prepare the current liabilities section of the balance sheet at June 30, 2018. Print Done any number in the input fields and then click Check
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