Question

Question 4 of 5 - /1 View Policies Current Attempt in Progress Tamarisk Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue $0 0 9,520 0 13,600 2,856 0 3,332 40.800 All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1 2. 3. 4. Tamarisk Company borrowed $13,600 by signing a 12%, one-year note on September 1, 2022. Interest will be paid when the note is repaid A count of supplies on December 31, 2022, indicates that supplies of $1,224 are on hand. Depreciation on the equipment for 2022 is $1,360. Tamarisk paid $2,856 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Tamarisk collected $40,800 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. Tamarisk performed consulting services for a client in December 2022. The client will be billed $5,712. Tamarisk pays its employees total salaries of $12,240 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 5. 6. 7 Aasaanan MacBook Pro

Answer 1

Adjusting entries

Date	General Journal	Debit	Credit
Dec 31	Interest expense (13600*12%*4/12)	544
	Interest payable		544
Dec 31	Supplies expense (3332-1224)	2108
	Supplies		2108
Dec 31	Depreciation expense	1360
	Accumulated depreciation-equipment		1360
Dec 31	Insurance expense (2856/12*7)	1666
	Prepaid insurance		1666
Dec 31	Unearned service revenue (40800/4)	10200
	Service revenue		10200
Dec 31	Account receivable	5712
	Service revenue		5712
Dec 31	Salaries and wages expense (12240/5*3)	7344
	Salaries and wages payable		7344