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please answer j. thank you Required information Pennys Pool Service & Supply, Incorporated pPSS) is completing the accounting process for the first year of oporations
please answer j. thank you
Required information Pennys Pool Service \& Supply, Incorporated pPSS) is completing the accounting process for the first year of oporations ended on December 31 . Transactians during the yoar have been journalized and posted. The foflowng triat balance resects the unadjusted balances on December 3t Required: 1. Prepare adjusting entries for Pennys Pool Service \& Supply, Incorporated, on Decomber 3t, of the current year Note: If no entry is required for a transaction/event, seiect "No journal entry required" in the first account field. Round your answer to nearest dollar. a. PpSS owed $8,400 in wages to the office receptionist and three assistants for working the last 10 days in December The employees wet be paid in early next year. b. On October 1 of the current fiscal year, PPS5 received $76.700 fram customers whe prepaid poot cleaning service for one year beginning on November 1 of the current yeat c. The company received a $610 utility bill for December vility usage 8 wil be paid early neat year. are due on Auguit 1 of nees yeor a. On December 3t ppss cleaned and Wintented a customers pool for $990, but the service was not yet recorded an December 3t 1 On November tof the curent fiscal year, PPSs puchased a two year insurance polcy for 55,400, with cowerage beganning on that date. The amount wat recorded as Prepaid Expenses when paid 0. Or December 31, PPS5 hod $4.500 of pool cleanng supplies on hand after parchasing supplas cosing $26.300 during the year from Pool Corporation, incorporated. h. PPS5 estimiated that degreciation on its buildings and equipment was $9,200 for the yes 1. At December 31,3200 of interest on investenents was earned that will be received in the neat yeat. If The companys income tax cate for the year was 22 percent Step by Step Solution
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