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QUESTION 5 Prior to preparing adjusting entries at the end of 2023, Brown Company had balances of $33,000 in accounts receivable and $530,000 in service

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QUESTION 5 Prior to preparing adjusting entries at the end of 2023, Brown Company had balances of $33,000 in accounts receivable and $530,000 in service revenue. During the final days of the year, the company completed a job for a customer. Brown will eventually charge $1,000 for the work, but the company had not yet billed the customer nor accrued the income of year-end. What amount of of accounts receivable will Brown report on its December 31, 2023 Balance Sheet after recording the appropriate adjusting entry at year-end? QUESTION 6 Yellow Company pays its employees every Friday for the five day workweek ending on that day, December 31 fell on a Tuesday in 2024. The business did not pay wages on that day. Instead, Yellow followed its normal pattern and disbursed $8,000 to the employees on the first Friday of 2025. Before recording adjusting entries at the end of 2024 Yellow carried balances of $440,000 in wage expense and $0 in wages payable What amount of wages payable will Yellow report on its December 31, 2024 Balance Sheet after making the appropriate year-end adjusting entry? QUESTION 7 On January 1 of 2024, Red Company sent a 521,000 check to its landlord to pay 14 months rent in advance. Red journalized this transaction as an increase to prepaid rent and a decrease to cash What amount of prepaid rent will Red Company report on its December 32, 2024 Balance Sheet after recording adjusting entries on December 31, 2024? QUESTION 8 On January 1 of 2024, Blue Company sent a $8,000 check to its landlord to pay 16 months rent in advance Blue joumalized this transaction as an increase to prepaid rent and a decrease to cash What amount of rent expense will Blue Company report on its 2024 Income Statement after recording adjusting entries on December 31, 2024

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