QUESTION STRON Adjusting res. 15 mars and Movers marted b y ons throughout the w do with the following items. She has reted your Regedi Prepare any necessary or plan ad no entry is req uise Mary by v the h o for you ote to the se pay this montima 2) Island Movers has earned interest of sind Marylan to record the even soon as the cash is received in tenuery 3) Island Movers collected cash in advance for reserving 1 week in December and 1 week in January for moving 2 customers. The move in December was 52.700 and the move in January will be $3,600. The business received both amounts in December and Mary debited cash and credited revenue for $600 when the cash was received 4) Salary expense is $1,500 per day for a 5 day work week. Employees are paid up to date on Friday each week. December 31" falls on Tuesday. 5) The business purchased supplies for $2,700 on January 3, 2018. During the year, additional purchases of $2,100 and $2,200 were made. Mary has determined that the cost of supplies remaining on hand at end of the year, is $1,500. 6) Equipment was purchased on January 2, 2018 for $25,000 and will last 5 years. Mary doesn't know what to do with the Equipment account that she set up. One of her co workers is telling her to simply show the equipment account as an expense on the income statement 7) One customer owes Island Movers a total of $8,000 for moving service that was completed yesterday, Mary has been too busy to determine whether an adjusting er is required. She is considering waiting until the New Year to record when the com actually gets paid. Her boss told her that the customer is very dependable and as as the company gets paid, that's what is most important. QUESTION STRON Adjusting res. 15 mars and Movers marted b y ons throughout the w do with the following items. She has reted your Regedi Prepare any necessary or plan ad no entry is req uise Mary by v the h o for you ote to the se pay this montima 2) Island Movers has earned interest of sind Marylan to record the even soon as the cash is received in tenuery 3) Island Movers collected cash in advance for reserving 1 week in December and 1 week in January for moving 2 customers. The move in December was 52.700 and the move in January will be $3,600. The business received both amounts in December and Mary debited cash and credited revenue for $600 when the cash was received 4) Salary expense is $1,500 per day for a 5 day work week. Employees are paid up to date on Friday each week. December 31" falls on Tuesday. 5) The business purchased supplies for $2,700 on January 3, 2018. During the year, additional purchases of $2,100 and $2,200 were made. Mary has determined that the cost of supplies remaining on hand at end of the year, is $1,500. 6) Equipment was purchased on January 2, 2018 for $25,000 and will last 5 years. Mary doesn't know what to do with the Equipment account that she set up. One of her co workers is telling her to simply show the equipment account as an expense on the income statement 7) One customer owes Island Movers a total of $8,000 for moving service that was completed yesterday, Mary has been too busy to determine whether an adjusting er is required. She is considering waiting until the New Year to record when the com actually gets paid. Her boss told her that the customer is very dependable and as as the company gets paid, that's what is most important
