Question
what will be the adjusting entries for the following? 1. The company determined that $7,500 of previously unearned services revenue had been earned at December
what will be the adjusting entries for the following?
1. The company determined that $7,500 of previously unearned services revenue had been
earned at December 31, 2018.
2. Accrued but unrecorded and uncollected services revenue totals $20,000 at December 3
1,
2018.
3. The company purchased all of its equipment when it first began business. At that time, the
estimated useful life of the equipment was six years (72 months)
4. Accrued but unpaid salaries total $25000 at December 31, 2018.
5. On June 1, 2011, the company borrowed $100,000 by signing a nine-month, 8 percent note
payable. The entire amount, plus interest, is due on March 1, 2019.
6. Office supplies on hand at December 31 total $110.
7. The company's CPA estimates that income taxes expense for the entire year is $7,500. The
unpaid portion of this amount is due early in 2019.
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