Question
Prepare adjusting journal entries for Wendy Catering in the GENERAL JOURNAL for the year ended 31 December 2022, for each of these situations. Narratives for
Prepare adjusting journal entries for Wendy Catering in the GENERAL JOURNAL for the year ended 31 December 2022, for each of these situations. Narratives for each entry are required.
A. Wendy Catering received RM5,000 from a customer on November 15, 2022, for catering service to be performed in December 2022. The RM5, 000 was recorded in Unearned Revenue in November 2022. By the end of December, the service has been performed.
B. Wendy Catering invested RM50, 000 into a 5% government bond some years ago. The 5% interest was due to be paid on 31 December every year. However, Wendy Catering had yet to receive the payment from the government by 31 December 2022.
C.Wendy Catering paid a total salary of RM28,000 every month to all of its staffs. Due to some unforeseen circumstances, the salaries for the final week amounting to RM7,000 have not been paid.
D.Wendy Catering paid a total salary of RM28,000 every month to all of its staffs. Due to some unforeseen circumstances, the salaries for the final week amounting to RM7,000 have not been paid.
E.Wendy Catering paid a total salary of RM28,000 every month to all of its staffs. Due to some unforeseen circumstances, the salaries for the final week amounting to RM7,000 have not been paid.
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