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please help me solve this Laughtor Landscaping has collected the following data for the December 31 adjusting entries: (i) (Click the icon to view the
please help me solve this
Laughtor Landscaping has collected the following data for the December 31 adjusting entries: (i) (Click the icon to view the independent casos.) Read the requirements. Requirement 1. Joumalze the adjusting entry needed on December 31 for eoch of the llems aflecing Laughtor Landscaping. Assume Lmughter rocords (Rocord debits fint, then credits. Seloct the explanation on the last line of the joumal entry table.) a. Each Fridey, Lnughter plys employees for the current week'h work. The amount of the weekly payroll is $7,600 for a five-day worloweek. This year Dece will pay its employees on January 2. Laughter Landscaping has collectod the following data for the December 31 adjusting ontries: (i) (Click the icon to view the independent cases.) Read the roquirements. More info Requiremer (Fecord deb a. Each Fride a. Each Fiday, Laughter pays employees for the current week's work. The amount of the weekly payroll is $7,600 for a five-day workweek. This year December 31 falls on a Wodnesdiny. Laughter will pay its employees on January 2 . b. On January 1 of the current yoar, Laughter purchases an insurance policy that covers two years, $4,000. c. The beginning balance of Office Supplies was $4,300. Durhg the year, Laughter purchasod office supplios for $5,100, and at December 31 the office supplios on hand total $1,400. d. During December, Laughter designed a landscape plan and the clent prepaid 56,000. Laughter recorded this amount as Uneamed Revenue. The job will take several months to complate, and Leughter estimates that the company has earned 40% of the total rovenue during the current year. -. A December 31. Laughter had earned $3,500 for landscape servicos comploted for Make Me Move Appliancos. Make Me Move has stated that zt will pey Lavghtor on January 10. f. Depreciation for the current year includes Equipment, $2,900; and Trucks, $1,200. 9. Laughter has incurred $460 of interest expense on a $1,000 interest payment due on January 15 . Loughter Landscaping has colloctod the following dats for the Docember 31 adjuting entries: (i) (Click the icon to view the independont cases.) Read the requirements. Requirement 1. Joumalice the adjusting entry needed on December 31 for each of the hems aflecting Linghter Landocaping. Aswume Laughter rocords adusting (Reoord debits first, the a. Each Fridiny, Laughte will pay its employees of Requirements 1. Journalize the ndjusting entry needed on Decermber 31 for each of the lems affecting Lauphter Landscaping. Assumb Layphter recorde adiuting entries only at the ond of the year. 2. Joumalize the subwequent foumal enties for adjuting enties a, d, and g Step by Step Solution
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