Homework Answers
| 1 | Salaries expense | 20,500 | |
| Salaries payable | 20,500 | ||
| 2 | Interest expense | 500 | |
| Interest payable | 500 | ||
| 3 | Interest expense | 1125 | |
| Interest payable | 1125 |
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a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but...
a. At year-end, salaries expense of $17,000 has been incurred by the company but is not...
a. At year-end, salaries expense of $17,000 has been incurred by the company but is not yet paid to employees. Salaries payable Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 b. At its December 31 year-end, the company owes $325 of interest on a line-of-credit loan. That interest will not be paid until...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has been incurred by the company but is not yet par Salar 20,5 Step 1: Determine what the current account balance equals. Debitor Credit? 20,500 Debit or Credit? 20.500 Credit $ Step 2: Determine what the current account balance should equal. I $ Credit Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Adjusting Entry Salaries expense ſ...
Record adjusting journal entries for each of the following for year ended December 31. Assume no...
Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. a. Salaries Payable. At year-end, salaries expense of $17,500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $350 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year. c. Interest...
QS 3-12 Accrued expenses adjustments LO P3
QS 3-12 Accrued expenses adjustments LO P3Record adjusting journal entries for each of the following for year ended December 31,Assume no other adjusting entries are made during the year.a. Salaries Payable. At year-end, salaries expense of $24.000 has been incurred by the company, but is not yet paid to employees.b. Interest Payable. At its December 31 year-end, the company owes $675 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next...
Wiew History Bookmarks People Tab Window Help ty College Sy Assignments: Principles of Ace Chapter 3...
Wiew History Bookmarks People Tab Window Help ty College Sy Assignments: Principles of Ace Chapter 3 Assignment et.mheducation.com/flow/connect.html ament i View transaction list Journal entry worksheet 2 3 At year-end, salaries expense of $24,000 has been incurred by the company, but is not yet paid to employees. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal View History Bookmarks People Tab Window Help Chapter 3 Assignment unity College Sy Assignments: Principles of...
a. The company provided $3,600 in services to customers that are expected to pay the company...
a. The company provided $3,600 in services to customers that are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2,600 have been incurred but are not paid as of December 31. c. The company has a $6,600 bank loan and has incurred (but not recorded) 7% interest expense of $462 for the year ended December 31. The company will pay the $462 interest in cash on January 2 following the company's year-end....
A company owes employee salaries of $16,000 at the end of the year. These salaries will...
A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. What adjusting entry, if any, does the company need to record at the end of the year? Multiple Choice O Debit Salaries Expense and credit Cash for $16,000. Debit Salaries Expense and credit Salaries Payable for $15,000. Debit Salaries Payable and credit Salaries Expense for $16,000. O O No adjusting entry is necessary at the end of the...
need the income tax expense and income tax payable. Credit Account Names Cash Supplies Deferred Revenue...
need
the income tax expense and income tax payable.
Credit Account Names Cash Supplies Deferred Revenue Debit $31,600 540 $ 3,170 Salaries and Wages payable @ Income Tax Payable Interest Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Further Information As reported on December 31 bank statement. Based on count, only $170 of supplies still exist. Of this amount, $2,700 was received for December lessons and $470 for January lessons. Employees were paid $2,300 for 10 days of...
a. M&R Company provided $3,700 in services to customers in December. Those customers are expected to...
a. M&R Company provided $3,700 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2,700 have been incurred but are not paid as of December 31. c. M&R Company has a $6,700 bank loan and has incurred (but not recorded) 6% interest expense of $402 for the year ended December 31. The company will pay the $402 interest in cash on January 2 following...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2.200 have been incurred but are not paid as of December 31. c. M&R Company has a $6,200 bank loan and has incurred (but not recorded) 8% interest expense of $496 for the year ended December 31. The company will pay the $496 interest in cash on...
a. At year-end, salaries expense of $17,000 has been incurred by the company but is not yet paid to employees. Salaries payable Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 b. At its December 31 year-end, the company owes $325 of interest on a line-of-credit loan. That interest will not be paid until...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has been incurred by the company but is not yet par Salar 20,5 Step 1: Determine what the current account balance equals. Debitor Credit? 20,500 Debit or Credit? 20.500 Credit $ Step 2: Determine what the current account balance should equal. I $ Credit Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Adjusting Entry Salaries expense ſ...
Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. a. Salaries Payable. At year-end, salaries expense of $17,500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $350 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year. c. Interest...
QS 3-12 Accrued expenses adjustments LO P3Record adjusting journal entries for each of the following for year ended December 31,Assume no other adjusting entries are made during the year.a. Salaries Payable. At year-end, salaries expense of $24.000 has been incurred by the company, but is not yet paid to employees.b. Interest Payable. At its December 31 year-end, the company owes $675 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next...
Wiew History Bookmarks People Tab Window Help ty College Sy Assignments: Principles of Ace Chapter 3 Assignment et.mheducation.com/flow/connect.html ament i View transaction list Journal entry worksheet 2 3 At year-end, salaries expense of $24,000 has been incurred by the company, but is not yet paid to employees. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal View History Bookmarks People Tab Window Help Chapter 3 Assignment unity College Sy Assignments: Principles of...
a. The company provided $3,600 in services to customers that are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2,600 have been incurred but are not paid as of December 31. c. The company has a $6,600 bank loan and has incurred (but not recorded) 7% interest expense of $462 for the year ended December 31. The company will pay the $462 interest in cash on January 2 following the company's year-end....
A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. What adjusting entry, if any, does the company need to record at the end of the year? Multiple Choice O Debit Salaries Expense and credit Cash for $16,000. Debit Salaries Expense and credit Salaries Payable for $15,000. Debit Salaries Payable and credit Salaries Expense for $16,000. O O No adjusting entry is necessary at the end of the...
need
the income tax expense and income tax payable.
Credit Account Names Cash Supplies Deferred Revenue Debit $31,600 540 $ 3,170 Salaries and Wages payable @ Income Tax Payable Interest Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Further Information As reported on December 31 bank statement. Based on count, only $170 of supplies still exist. Of this amount, $2,700 was received for December lessons and $470 for January lessons. Employees were paid $2,300 for 10 days of...
a. M&R Company provided $3,700 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2,700 have been incurred but are not paid as of December 31. c. M&R Company has a $6,700 bank loan and has incurred (but not recorded) 6% interest expense of $402 for the year ended December 31. The company will pay the $402 interest in cash on January 2 following...
homework A Saved a. M&R Company provided $3.200 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2.200 have been incurred but are not paid as of December 31. c. M&R Company has a $6,200 bank loan and has incurred (but not recorded) 8% interest expense of $496 for the year ended December 31. The company will pay the $496 interest in cash on...
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