Rama Magazines has the following adjustments for the January month-end: a) Bank service charges for the month are estimated to be $43.50. b) The Prepaid insurance account balance represents 4 months' insurance that has not been used as of January 1. Adjust the account accordingly. C) A part-time employee (use YOUR ACTUAL NAME as the part-time employee's name in the comment line) did not submit his time sheet and was not paid $158.00, the regular wages for the pay period ending January 28. (Magazine Sales charges all salaries and wages to Salaries Staff Account #5290.) Accrue the wages for the period (ignore CPP and EI). d) The value of the Store Supplies on hand was counted, and is $358.00. e) Depreciation of Store Equipment is $1,500.00 for the year ($125.00 per month). f) The long-term bank loan arranged on December 31, 2023, with the Canadian Bank, is for a 5- year period at an interest rate at 9% (per annum effective monthly rate of 0.7207%). Monthly payments of $998.26 are due at the end of each month. The January 31, automatic bank payment of $998.26 (including interest of $291.07) has not been made or recorded. 9) A new vendor, Snowgone Services, submitted a January snow removal invoice (#5631) dated today for $140.00 plus HST, net 30 days (Maintenance Expense). h) The inventory count found that 10 Puzzle magazines are missing. Adjust inventory. (Hint: Chapter 8, Exercise 8-20.) Print All Journal Entries for the entries above. 4> Rama Magazines has the following adjustments for the January month-end: a) Bank service charges for the month are estimated to be $43.50. b) The Prepaid insurance account balance represents 4 months' insurance that has not been used as of January 1. Adjust the account accordingly. C) A part-time employee (use YOUR ACTUAL NAME as the part-time employee's name in the comment line) did not submit his time sheet and was not paid $158.00, the regular wages for the pay period ending January 28. (Magazine Sales charges all salaries and wages to Salaries Staff Account #5290.) Accrue the wages for the period (ignore CPP and EI). d) The value of the Store Supplies on hand was counted, and is $358.00. e) Depreciation of Store Equipment is $1,500.00 for the year ($125.00 per month). f) The long-term bank loan arranged on December 31, 2023, with the Canadian Bank, is for a 5- year period at an interest rate at 9% (per annum effective monthly rate of 0.7207%). Monthly payments of $998.26 are due at the end of each month. The January 31, automatic bank payment of $998.26 (including interest of $291.07) has not been made or recorded. 9) A new vendor, Snowgone Services, submitted a January snow removal invoice (#5631) dated today for $140.00 plus HST, net 30 days (Maintenance Expense). h) The inventory count found that 10 Puzzle magazines are missing. Adjust inventory. (Hint: Chapter 8, Exercise 8-20.) Print All Journal Entries for the entries above. 4>
