Adjusting Entries

A
Interest expense $12000
Interest payable $12000

b salaries expense $11520

$11520
salaries payable
(. Assume that on, July 2, a Friday the company, 
which is on a five­day workweek and pays 
employees weekly, paid its regular salaried 
employees 192,000. 
You have to accrue salaries up to June 30, a 
Wednesday, so accrue 3 days worth of salaries)

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er as
co
c

eH w
No entry needed upon mere signing of
document with no work performed

o.
rs e
ou urc
$41950
d supplies expense $41950
supplies
o

$31670
aC s

e Insurance expense $31670

vi y re

prepaid insurance

$73000
depreciation- Building $73000
ed d

f $21800
depreciation- equipment $21800
ar stu

accumulated depreciation-building
accumulated depreciation- equipment
is

g no entry needed as services will only be

Th

performed next year

sh

$3500
h accrued receivables $3500
service revenues

This study source was downloaded by 100000821988651 from CourseHero.com on 03-26-2021 08:39:48 GMT -05:00

https://www.coursehero.com/file/12297704/Adjusting-Entries/
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This study source was downloaded by 100000821988651 from CourseHero.com on 03-26-2021 08:39:48 GMT -05:00

https://www.coursehero.com/file/12297704/Adjusting-Entries/
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