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Zeta-Z VideoGame Supplies has identified the following accountsas needed to be adjusted. Complete the necessary adjusting entries: Salaries earned but not paid for the period
Zeta-Z VideoGame Supplies has identified the following accountsas needed to be adjusted. Complete the necessary adjusting entries:
- Salaries earned but not paid for the period $5,500.
- Record accrueddividend income on investments of $1,500.
- Depreciation expense for the period. The equipment has a useful life of 15years & the salvage value is estimated to be zero. (Hint you have a partial year)
- Determine the amount of Insurance that has expired.
- Supplies on hand - $1,700.
- Found the parts neededto repair the game systemsbrought in on August 9th. As of December 31st, half were complete and given to the customer Zeta is working on finishing the rest of the systems.
- Record the amount of expired rent.
- Record accruedInterest expense of on Note Payable for the equipmentpurchased on May 1st.
- Once all the adjustments are complete the company will need to calculate net income. Then you will calculate tax expense and recorded it (the offset is a tax payable).The company has an income tax rate of 25%.
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