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Splish Brothers Company has the following balances in selected accounts on December 31, 2022 Accounts Receivable $0 Accumulated Depreciation-Equipment 0 Equipment 11.760 Interest Payable 0
Splish Brothers Company has the following balances in selected accounts on December 31, 2022 Accounts Receivable $0 Accumulated Depreciation-Equipment 0 Equipment 11.760 Interest Payable 0 Notes Payable 16,800 3,528 0 Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 4,116 50.400 All the accounts have normal balances. The following information has been gathered at December 31, 2022 1. Splish Brothers Company borrowed $ 16,800 by signing a 12%, 1-year note on September 1, 2022. Interest will be paid when the note is repaid Acount of supplies on December 31, 2022, indicates that supplies of $ 1,512 are on hand. Depreciation on the equipment for 2022 is $ 1,680. 2. 3. 4. 5. 6. Splish Brothers paid $ 3,528 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Splish Brothers collected $ 50,400 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. Splish Brothers performed consulting services for a client in December 2022. The client will be billed $ 7,056. Splish Brothers pays its employees total salaries of $ 15,120 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 2022 7. Prepare adjusting entries for the seven items described above. Splish Brothers prepares adjustments annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2 3. 3. 4. 5. 6. 7
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