Question

PSIS Heading 1 1 Normal Strong Subtitle 4 Paragraph Styles 3 Ал ешpoyce approacucu rе w а ѕаiалiсчаса. Тие спроусе was willing to work for $3 less an hour if Brett would pay the salary 'under the table'. The employee's spouse had a good job and the salary the employee was getting would put the family into a new income tax bracket. The employee was a good employee and would have to quit if Brett did not oblige. Brett saw the savings opportunity but said he'd have to talk to his advisor. In addition the following adjustments were necessary # 17 Day 31 Description Services provided but unbilled and uncollected at July 31 were $1,100. 18 31 Depreciation on equipment for month was $200. 19 31 One-twelfth of the insurance expired. 20 31 An inventory count shows $600 of cleaning supplies on hand. 21 3 31 Accrued but unpaid employee salaries were $400. D Focus

Answer 1

-Adjuutment Entries: Accounts Receivalue $110o $ ILOD Service Renenue to Depreciation Equipment $200 Insurance expense $100 $100 Prepaid insurance $600 supplies expense rau supplies, and $ 600 salaries $400 Accrued salaries payause it $400 15/15 o =