Question

Journal entry worksheet < 1 2 3 4 5 6 The company has 15 employees, who earn a total of $2,250 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2019, is a Tuesday, and all 15 employees worked the first two days of that week. Note: Enter debits before credits Transaction General Journal Debit - Credit Record entry Clear entry View general journal 1 of 1

Answer 1

1) The Office Supplies account started the year with a $3,500 balance. During 2013, the company purchased supplies for $14,455. which was added to the Office Supplies account. The inventory of supplies available at December 31 , 2019, totaled $3080
Account Titles	Debit	Credit
Office Supplies Expense	14875
Office Supplies		14875
$3500 + $14,455 - 3080
2) The company has 15 employees, who earn a total of $2,250 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2019, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year’s Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2019
Account Titles	Debit	Credit
Salaries Expense (2250 x 2)	4500
Salaries Payable		4500
3)
Insurance expense	No data available
Prepaid Insurance
4)
The company purchased a building on January 1, 2019. It cost $775,000 and is expected to have a $45,000 salvage value at the end of its predicted 20-year life. Annual depreciation is $36,500
Depreciation Expense-Building	36500
Accumulated Depreciation - Building		36500