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Sandhill Company has the following balances in selected accounts on December 31. Accounts Receivable Accumulated Depreciation-Equipment Equipment Prepaid Insurance Salaries and Wages Payable Supplies 1.
Sandhill Company has the following balances in selected accounts on December 31. Accounts Receivable Accumulated Depreciation-Equipment Equipment Prepaid Insurance Salaries and Wages Payable Supplies 1. 2. 3. $0 4. 0 9,000 All the accounts have normal balances. The information below has been gathered at December 31. 2,640 0 3,300 A count of supplies on December 31 indicates that supplies of $950 are on hand. Depreciation on the equipment for the year is $800. Sandhill Company paid $2,640 for 12 months of insurance coverage on June 1. Sandhill Company pays its employees total salaries of $9,200 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of the year.
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