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pel Progress At December 31, 2021, Sheridan Company made an accrued expense adjusting entry of $1,870...
At December 31, 2021, Pharoah Company made an accrued expense adjusting entry of $1,820 for salaries....
At December 31, 2021, Pharoah Company made an accrued expense adjusting entry of $1,820 for salaries. On January 4, 2022. It paid salaries of $3,140: $1,820 for December salaries and $1,320 for January salaries. Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter...
Assume the company does use reversing entries. Prepare the December 31 adjusting entry, the January 1...
Assume the company does use reversing entries. Prepare the
December 31 adjusting entry, the January 1 reversing entry, and the
entry on Monday, January 6, when Crane pays the payroll.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Your answer is correct. Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when...
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the...
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the following selected data: Accounts receivable Interest expense $9,780 12,850 Service revenue Interest payable $112,400 6,490 Analysis shows that adjusting entries had been made, and included above, for (1) $9,780 of services performed but not bille (2) $6,490 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented w amount is entered. Do...
Current Attempt in Progress At December 31, 2021. Crane Company made an accrued expense adjusting entry...
Current Attempt in Progress At December 31, 2021. Crane Company made an accrued expense adjusting entry of $1,860 for salaries. On January 4, 2022, it paid salaries of $2,800: 51.860 for December salaries and 5940 for January salaries Prepare the December 31 adjusting entry. Credit account titles are automatically indented when amount is entered. Do not indent manually amounts. no entry is required, select "No Entry for the accounts and enter for the Date Account Titles and Explanation Debit Credit...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data:...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
Current Attempt in Progress On December 31, the adjusted trial balance of Larkspur, Inc. shows the...
Current Attempt in Progress On December 31, the adjusted trial balance of Larkspur, Inc. shows the following selected data: Accounts receivable Interest expense $9,000 12,880 Service revenue Interest payable $ 107,700 6,430 Analysis shows that adjusting entries had been made, and included above, for (1) $9,000 of services performed but not billed, and (2) $6,430 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
The bookkeeper for Sheridan Company asks you to prepare the following accrued adjusting entries at December...
The bookkeeper for Sheridan Company asks you to prepare the following accrued adjusting entries at December 31. Interest on notes payable of $570 is accrued. 2. Services performed but not recorded total $2,140. Salaries earned by employees of $850 have not been recorded. 1. 3. Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. (Credit account titles are automatically indented when the amount is entered. Do not...
The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019 Current liabilities...
The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019 Current liabilities $ 134,550 Interest payable Long-term liabilities Bonds payable, 9%, due January 1, 2024 1,495,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Your answer is correct. Journalize the payment of the bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles andExplanation Debit...
Need assistance please Oriole Company issues $2.5 million, 10-year, 7% bonds at 96, with interest payable on December 31...
Need assistance please
Oriole Company issues $2.5 million, 10-year, 7% bonds at 96, with interest payable on December 31. The straight-line method is used to amortize bond discount. Your answer is partially correct. Try again. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 ||Interest Expense Cash 175,000 Discount on Bonds...
At December 31, 2021, Pharoah Company made an accrued expense adjusting entry of $1,820 for salaries. On January 4, 2022. It paid salaries of $3,140: $1,820 for December salaries and $1,320 for January salaries. Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter...
Assume the company does use reversing entries. Prepare the
December 31 adjusting entry, the January 1 reversing entry, and the
entry on Monday, January 6, when Crane pays the payroll.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Your answer is correct. Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when...
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the following selected data: Accounts receivable Interest expense $9,780 12,850 Service revenue Interest payable $112,400 6,490 Analysis shows that adjusting entries had been made, and included above, for (1) $9,780 of services performed but not bille (2) $6,490 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented w amount is entered. Do...
Current Attempt in Progress At December 31, 2021. Crane Company made an accrued expense adjusting entry of $1,860 for salaries. On January 4, 2022, it paid salaries of $2,800: 51.860 for December salaries and 5940 for January salaries Prepare the December 31 adjusting entry. Credit account titles are automatically indented when amount is entered. Do not indent manually amounts. no entry is required, select "No Entry for the accounts and enter for the Date Account Titles and Explanation Debit Credit...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
Current Attempt in Progress On December 31, the adjusted trial balance of Larkspur, Inc. shows the following selected data: Accounts receivable Interest expense $9,000 12,880 Service revenue Interest payable $ 107,700 6,430 Analysis shows that adjusting entries had been made, and included above, for (1) $9,000 of services performed but not billed, and (2) $6,430 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
The bookkeeper for Sheridan Company asks you to prepare the following accrued adjusting entries at December 31. Interest on notes payable of $570 is accrued. 2. Services performed but not recorded total $2,140. Salaries earned by employees of $850 have not been recorded. 1. 3. Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. (Credit account titles are automatically indented when the amount is entered. Do not...
The following section is taken from Sheridan Corp.'s balance sheet at December 31, 2019 Current liabilities $ 134,550 Interest payable Long-term liabilities Bonds payable, 9%, due January 1, 2024 1,495,000 Bond interest is payable annually on January 1. The bonds are callable on any interest date. Your answer is correct. Journalize the payment of the bond interest on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles andExplanation Debit...
Need assistance please
Oriole Company issues $2.5 million, 10-year, 7% bonds at 96, with interest payable on December 31. The straight-line method is used to amortize bond discount. Your answer is partially correct. Try again. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 ||Interest Expense Cash 175,000 Discount on Bonds...
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