Question
Refer to the following Hawkeye Ranges. a. As of December 31, 2015, employees had earned $965 of unpaid and unrecorded salaries. The next payday is
Refer to the following Hawkeye Ranges. a. As of December 31, 2015, employees had earned $965 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,718 of salaries will be paid. b. The cost of supplies still available at December 31, 2015, is $2,908. c. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31, 2015, is $1,150. The next interest payment, at an amount of $1,380, is due on January 15, 2016. d. Analysis of the unearned member fees account shows $6,031 remaining unearned at December 31, 2015. e. In addition to the member fees included in the revenue account balance, the company has earned another $9,710 in unrecorded fees that will be collected on January 31, 2016. The company is also expected to collect $8,000 on that same day for new fees earned in January 2016. f. Depreciation expense for the year is $13,709.
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