On Jan 18, 2024 Bobby received a telephone bill for $3.680. It was determined that $2,460...

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On Jan 18, 2024 Bobby received a telephone bill for $3.680. It was determined that $2,460 of the bill pertained to the month of December 2023. C An analysis of work in progress indicated that $6.400 of fees had been earned but had not been billed as of December 31, 2023. Having been repeatedly delinquent on his rent Bobby was compelled to make a $22,500 rental payment on December 1, 2023 which constituted three months rent (Dec, Jan, Feb) in advance. d Bobby's year-end inventory of crayons and other supplies amounted to $2,880 i j k f h B Bobby issued a $400,000, 120-day, 6% note on December 2, 2023. Type 2 unrecorded cost Bobby pays his employees bi-weekly. On Friday Jan. 3, 2023 the employees were paid $18,600 for the two five-day work weeks then ended. Bobby sublet dumpster space to Lamco for $1,500 per month. Lamco made an advance rental payment to Bobby of $7,500 on December 1, 2023 for the five month period beginning December 1, 2023. Bobby accepted $12,600 of retainer fees which were to be applied to services rendered subsequently. As of December 31, 2023 $3,100 of the advances remained unearned. Bobby graciously accepted a $250,000, 20%, 90-day note from Lamco Inc. on December 16, 2023. During November 2023 Bobby received $36,000 for annual subscriptions to his monthly tax dodging newsletter. The first of the twelve monthly newsletters was delivered in November 2023. Bobby paid a $ 9,000 six-month insurance premium in December for the policy period December 1, 2023 through May 31, 2024. 1A Instructions: Bobby Wino, sole shareholder of the company has requested that you prepare the appropriate year-end adjusting entries On Jan 18, 2024 Bobby received a telephone bill for $3.680. It was determined that $2,460 of the bill pertained to the month of December 2023. C An analysis of work in progress indicated that $6.400 of fees had been earned but had not been billed as of December 31, 2023. Having been repeatedly delinquent on his rent Bobby was compelled to make a $22,500 rental payment on December 1, 2023 which constituted three months rent (Dec, Jan, Feb) in advance. d Bobby's year-end inventory of crayons and other supplies amounted to $2,880 i j k f h B Bobby issued a $400,000, 120-day, 6% note on December 2, 2023. Type 2 unrecorded cost Bobby pays his employees bi-weekly. On Friday Jan. 3, 2023 the employees were paid $18,600 for the two five-day work weeks then ended. Bobby sublet dumpster space to Lamco for $1,500 per month. Lamco made an advance rental payment to Bobby of $7,500 on December 1, 2023 for the five month period beginning December 1, 2023. Bobby accepted $12,600 of retainer fees which were to be applied to services rendered subsequently. As of December 31, 2023 $3,100 of the advances remained unearned. Bobby graciously accepted a $250,000, 20%, 90-day note from Lamco Inc. on December 16, 2023. During November 2023 Bobby received $36,000 for annual subscriptions to his monthly tax dodging newsletter. The first of the twelve monthly newsletters was delivered in November 2023. Bobby paid a $ 9,000 six-month insurance premium in December for the policy period December 1, 2023 through May 31, 2024. 1A Instructions: Bobby Wino, sole shareholder of the company has requested that you prepare the appropriate year-end adjusting entries

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