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please help me to make corrections, and i need to know how did you solve them. thanks On December 31, adjusting information for Ayayai Corp.
please help me to make corrections, and i need to know how did you solve them. thanks
On December 31, adjusting information for Ayayai Corp. is as follows: -01 oz 27 1. 2 3. Estimated depreciation on equipment is $3,000. Property taxes amounting to $2,500 have been incurred but are unrecorded and unpaid. Employee wages that have been earned by employess but are unpaid and unrecorded amount to $3,500. The Service Revenue account includes amounts that have been paid by customers for services that have not yet been completed. The amount has been determined to be $5,000. Interest of $100 on a $25,000 note payable has not been recorded or paid. 4. 5. 11 - (a) Your answer is correct. Prepare the reversing entries, where appropriate. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit No. Account Tities and Explanation X 1. Depreciation Expense 30,000 Unearned Rent Revenu 30,000 2. 2500 Property Tax Payable 2500 Property Tax Expense 3. 3500 Salaries and Wages Payab 3500 Salaries and Wages Exp 5000 4. Service Revenue 5000 Unearned Rent Revenu: 100 5. Interest Payable 100 Interest ExpenseStep by Step Solution
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