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The following is list of accounts each represented by letter(s). A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E
The following is list of accounts each represented by letter(s). A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E Accumulated Depreciation-Equip EE Notes Payable F Allowance for Doubtful Accounts FF Payroll Tax Expense G Bad Debt Expense GG Premium on Bonds Payable H Bonds Payable HH Prepaid Insurance I Building II Prepaid Rent J Capital Lease Payable JJ Rent Expense K Cash KK Rent Revenue L Cost of Goods Sold LL Retained Earnings M Depreciation Expense MM Salaries and Wages Expense N Discount on Bonds Payable NN Salaries and Wages Payable 0 Dividends 00 Sales Commission Expense P Equipment PP Sales Commission Payable Q Fed Income Tax Payable QQ Sales Returns R Fed Unemployment Tax Payable RR Sales Revenues S FICA Taxes Payable SS Sales Taxes Payable T Income Summary TT U Insurance Expense UU Service Revenue State Income Tax Payable V Interest Expense VV W Interest Payable State Unemployment Tax Payable ww Supplies X Interest Receivable XX Supplies Expense Y Interest Revenue YY Unearned Rent Revenue Z Land ZZ Unearned Service Revenue Question: Unpaid salaries and wages at year end amount to $750. Provide the adjusting journal entry that company must make on December 31, 2020, the end of the fiscal year. Question: During an internal audit, company realized that supplies inventory on hand was overstated by $15,000 when a year-end physical inventory of supplies was taken at the end of last year to record the adjusting entry for supplies used. Applicable income tax rate for last year was 30%. Provide the necessary journal entry that company must make for correcting this error. Question: The adjusted trial balance of West Company at January 31, 2021, shows Salaries and Wages Payable of $3,200 and Salaries and Wages Expense of $7,200. Total of $10,000 was paid in January for salaries and wages. Provide journal entry for when the $10,000 was paid. Question: Company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, provide journal entryy for recording the aquisition cost of land
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