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You have been hired to examine the records of Zane Ltd. as of December 31, 2022, the company year-end. Zane is a snow removal company.
You have been hired to examine the records of Zane Ltd. as of December 31, 2022, the company year-end. Zane is a snow removal company. The company's accountant has resigned and you have been requested to review certain events to assess if any adjusting journal entries are required. REQUIRED: The accounts were last adjusted on December 31, 2021. Prepare the adjusting journal entries required on December 31, 2022 which are presented below. Question 11 (2 points) Listen Accrued salaries owed by Zane amounted to 4 days at $400 per day as of December 31, 2022. Dr. Cr. Question 12 (1 point) Liszan A $ Question 12 (1 point) Listen Zane's bookkeeper was recording December payments and recorded December rent as follows: Dr. Depreciation expense $1,400 Cr. Cash $1,400 Dr. Cr. Question 13 (2 points) 4 Listen A $ A/ P/ Zane signed a $45,000, 6% bank loan on November 1, 2022, due in two years. Interest is payable on the first day of each following month. Interest was last paid on December 1, 2022. Dr. Cr. Question 14 (1 point) 2/ Dr. Cr. Question 14 (1 point) Listen 6A A $ At the end of December, Zane owed the utility company $275 for services received in December. Dr. Cr. I Question 15 (2 points) 43 Listen A $ A/ A $ On January 1, 2022, the office supplies account had a normal account balance of $2,500. Additional purchases of office supplies made during the year amounted to $4,000. As of December 31, 2022, office supplies of $800 remained on hand. Dr. Cr. A $ $ Cr Question 16 (2 points) Listen 1A The deferred revenue account contained a normal account balance of $12,000, received August 1, 2022 for 6 months of snow removal service to be performed starting October 1, 2022. Dr. Cr. A $ A $ Question 17 (1 point) 4Listen At year end, Zane has provided snow removal services worth $5,000 to clients who have not yet been billed. Dr. Cr. A $ A $
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