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Molly Mocha employs one college student every summer in her coffee shop. The student works the...
Molly Mocha employs one college student every summer in her coffee shop. The student works the...
Molly Mocha employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the following Monday. (For example, a student who works Monday through Friday, June 1 through June 5, is paid for that work on Monday. June 8.) The coffee shop adjusts its books monthly, if needed, to show salaries earned but unpaid at month-end. The student works the last week of July, which is Monday, July 28, through Friday,...
The company employs a single employee who works all five weekdays and is paid for the...
The company employs a single employee who works all five
weekdays and is paid for the workweek on the following Monday. The
employee works the entire week ending on Friday, December 30. The
employee earns $800 per day. Complete the necessary journal entry.
(If no entry is required for a transaction/event, select
"No journal entry required" in the first account
field.)
1 Record the adjusting entry to accrue wages at December 31. Note: Enter debits before credits. Date General Journal...
Crane Company pays salaries of $10,630 every Monday for the preceding 5-day week (Monday through Friday)....
Crane Company pays salaries of $10,630 every Monday for the
preceding 5-day week (Monday through Friday). Assume December 31
falls on a Tuesday, so Crane’s employees have worked 2 days without
being paid at tAssume the company does not use reversing entries.
Prepare the December 31 adjusting 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...
Whispering Winds Company pays salaries of $10,320 every Monday for the preceding 5-day week (Monday through...
Whispering Winds Company pays salaries of $10,320 every Monday
for the preceding 5-day week (Monday through Friday). Assume
December 31 falls on a Tuesday, so Whispering Winds’s employees
have worked 2 days without being paid at the end of the fiscal
year.
Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Whispering Winds pays the payroll. (Credit account titles are automatically indented when amount is entered. Do...
Blue Spruce Company pays salaries of $10,140 every Monday for the preceding 5 day week (Monday...
Blue Spruce Company pays salaries of $10,140 every Monday for the preceding 5 day week (Monday through Friday). Assume December 31 falls on a Tuesday, so Blue Spruce's employees have worked 2 days without being paid at the end of the fiscal year. Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Blue Spruce pays the payroll. (Credit account titles are automatically indented when amount is entered....
Problem 7-5 Prepaid Insurance and the Monthly Prepaid Insurance Adjusting Entry On September 1, 2019, Amy's...
Problem 7-5 Prepaid Insurance and the Monthly Prepaid Insurance Adjusting Entry On September 1, 2019, Amy's Floral Shop, Inc. paid cash for the following two insurance policies Insurance Policy #1 Auto and Truck Type of insurance coverage Starting date of the insurance coverage. September 1, 2019 Period of time coverage is for..3 months Total cost of coverage paid in advance... $525 Insurance Policy #2 Type of insurance coverage.. Business Liability Starting date of the insurance coverage .. Sseptember 1, 2019...
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021....
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uneamed revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August 1, 2021, for $47,520...
Question 2B Zheng Corporation had the following selected transactions in the month of March. The company...
Question 2B Zheng Corporation had the following selected transactions in the month of March. The company adjusts its accounts monthly. 1. The company has a 10%, $12,840 bank loan payable due in one year. Interest is payable on the first day of each following month and was last paid on March 1. 2. At the end of March, the company earned $250 interest on its investments. The bank deposited this amount in Zheng’s cash account on April 1. 3. Zheng...
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021....
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940. 2. Purchased equipment on August 1, 2021, for $50,400 cash. The...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.)...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit $ 2 6 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short- term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock...
Molly Mocha employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the following Monday. (For example, a student who works Monday through Friday, June 1 through June 5, is paid for that work on Monday. June 8.) The coffee shop adjusts its books monthly, if needed, to show salaries earned but unpaid at month-end. The student works the last week of July, which is Monday, July 28, through Friday,...
The company employs a single employee who works all five
weekdays and is paid for the workweek on the following Monday. The
employee works the entire week ending on Friday, December 30. The
employee earns $800 per day. Complete the necessary journal entry.
(If no entry is required for a transaction/event, select
"No journal entry required" in the first account
field.)
1 Record the adjusting entry to accrue wages at December 31. Note: Enter debits before credits. Date General Journal...
Crane Company pays salaries of $10,630 every Monday for the
preceding 5-day week (Monday through Friday). Assume December 31
falls on a Tuesday, so Crane’s employees have worked 2 days without
being paid at tAssume the company does not use reversing entries.
Prepare the December 31 adjusting 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...
Whispering Winds Company pays salaries of $10,320 every Monday
for the preceding 5-day week (Monday through Friday). Assume
December 31 falls on a Tuesday, so Whispering Winds’s employees
have worked 2 days without being paid at the end of the fiscal
year.
Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Whispering Winds pays the payroll. (Credit account titles are automatically indented when amount is entered. Do...
Blue Spruce Company pays salaries of $10,140 every Monday for the preceding 5 day week (Monday through Friday). Assume December 31 falls on a Tuesday, so Blue Spruce's employees have worked 2 days without being paid at the end of the fiscal year. Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Blue Spruce pays the payroll. (Credit account titles are automatically indented when amount is entered....
Problem 7-5 Prepaid Insurance and the Monthly Prepaid Insurance Adjusting Entry On September 1, 2019, Amy's Floral Shop, Inc. paid cash for the following two insurance policies Insurance Policy #1 Auto and Truck Type of insurance coverage Starting date of the insurance coverage. September 1, 2019 Period of time coverage is for..3 months Total cost of coverage paid in advance... $525 Insurance Policy #2 Type of insurance coverage.. Business Liability Starting date of the insurance coverage .. Sseptember 1, 2019...
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all uneamed revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $945 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,955 cash On December 31, 2021, a physical count showed that prepaid supplies on hand amounted to $840. 2. Purchased equipment on August 1, 2021, for $47,520...
Company A's business involves hosting several concerts per year. The company's year-end is December 31, 2021. The company records all prepaid costs as assets and all unearned revenues as liabilities and adjusts accounts annually. 1. Prepaid supplies amounted to $835 on December 31, 2020. On June 10, 2021, additional supplies were purchased for $1,890 cash. On December 31, 2021, a physical count showed that prepaid supplies amounted to $940. 2. Purchased equipment on August 1, 2021, for $50,400 cash. The...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit $ 2 6 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short- term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock...
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