Question

Question 10 of 10 < > -11 Windsor. Company has the following balances in selected accounts on December 31, 2022. $0 0 7,280 0 Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 10,400 2.184 0 2,548 31,200 All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. 2. 3. Windsor. Company borrowed $10,400 by signing a 12%, one-year note on September 1, 2022. Interest will be paid wher the note is repaid. A count of supplies on December 31, 2022, indicates that supplies of $936 are on hand. Depreciation on the equipment for 2022 is $1,040. Windsor. paid $2,184 for 12 months of insurance coverage on June 1, 2022. A. December 192022 Windsor collected 100 con convictaba perfomedleven om December 4. 5

Answer 1

Adjusting entry

Date	General Journal	Debit	Credit
Dec 31	Interest expense (10400*12%*4/12)	416
	Interest payable		416
Dec 31	Supplies expense (2548-936)	1612
	Supplies		1612
Dec 31	Depreciation expense	1040
	Accumulated depreciation-equipment		1040
Dec 31	Insurance expense (2184/12*7)	1274
	Prepaid insurance		1274
Dec 31	Unearned service revenue (31200/4)	7800
	Service revenue		7800
Dec 31	Account receivable	4368
	Service revenue		4368
Dec 31	Salaries and wages expense (9360/5*3)	5616
	Salaries and wages payable		5616