Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Select year end company accounts and additional information: Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $ 15,900 0 0

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Required information Select year end company accounts and additional information: Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $ 15,900 0 0 10,500 Account Name Service revenue Interest revenue Supplies expense Salaries expense Account Balance $147,800 0 0 66,900 3 4. 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. Employees are owed additional salaries at the end of the year. A note receivable was accepted on March 31. Interest rate on note $ 6,700 2,700 7,800 8,200 88 Required: 1. Prepare the adjusting journal entries based on the results of your revised spreadsheet. View transaction list Journal entry worksheet Record the adjusting entry for supplies expense if supplies on hand at the end of the year were $6,700. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Required: 1. Prepare the adjusting journal entries based on the results of your revised spreadsheet. View transaction list Journal entry worksheet Record the adjusting entry for services remaining to be provided to customers who paid $2,700 in advance. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Required: 1. Prepare the adjusting journal entries based on the results of your revised spreadsheet. View transaction list Journal entry worksheet Record the adjusting entry for additional salaries of $7,800 owed to employees at the end of the year. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Required: 1. Prepare the adjusting journal entries based on the results of your revised spreadsheet. View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services An Integrated Approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

18th Edition

0137879199, 9780137879199

More Books

Students also viewed these Accounting questions