Question

Loring Landscaping has collected the following data for the December 31 adjusting entries (Click the icon to view the independent cases) Read the requirements Requirement 1. Journalize the adjusting entry needed on December 31 for each of the terms attecting Lorring Landscaping Assume ning records in the only at the end of the year card debts first, then credits Select the explanation on the lastne of the journal entry tale) a. Each Friday Loring pays employees for the current week's work. The amount of the weekly payroll is 59.000 for five day workweek This year December 31 fot on a Monday. Loring will pay is amployees on January 4 Date Accounts and Explanation Debat Credit Dec 31

Answer 1

	Account Titles	Debit	Credit
a	Salaries Expense	$          1,800
	Salaries Payable		$          1,800
b	Insurance Expense	$          4,000
	Prepaid Insurance		$          4,000
c	Office Supplies Expense	$          8,400
	Office Supplies		$          8,400
d	Unearned Revenue	$          3,200
	Landscaping Revenue		$          3,200
e	Accounts Receivable	$          5,000
	Landscaping Revenue		$          5,000
f	Depreciation Expense - Equipment	$          3,000
	Accumulated Depreciation - Equipment		$          3,000
	Depreciation Expense - Trucks	$          1,200
	Accumulated Depreciation - Trucks		$          1,200
g	Interest Expense	$             100
	Interest Payable		$             100

For f, Depreciation can be entered combined depending on heads available

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