CALCULATOR PRINTER VERSION 4 BACK NEXT Exercise 4-17 Marigold Corp. has the following information available for accruals for the year ended December 31, 2017. The company adjusts its accounts annually. 1. 2. 3. The December utility bill for $330 was unrecorded on December 31, Marigold paid the bill on January 11. Marigold is open 7 days a week and employees are paid a total of $2,730 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28-Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. Marigold signed a $35,100, 5% bank loan on November 1, 2016, due in 2 years. Interest is payable on the first day of each following month (For example, interest incurred during November is paid on December 1.). Marigold receives a fee from Pizza Shop next door for all pizzas sold to customers using Marigold's facility. The amount owed for December is $230, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Marigold rented some of its unused warehouse space to a client for $4,680 a month, payable the first day of the following month. It received the rent for the month of December on January 2. 4. 5. comhor 71 using the tahular summary that follows. (Round all calculations to the nearest dollar. If a transaction results in hilir ar Fruity OF January 2. For each situation, record the adjustment required at December 31 using the tabular summary that follows. (Round all calculations to the nearest dollar. If a transaction results in decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities Assets Stockholders' Equity Retained Earnings Rev. Exp. Diy Sal. & Wages Pay. Com. Stock 44 + + Int. Pay. Cash + Accts. Rec. Accts. Pay. 2017 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Totals For each situation, record the subsequent cash transaction in 2018 in the tabular summary from part (a). (If a transaction results in a decrease in Assets, Liabilities or Stockholder Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity Retained Earnings Rev. Exp. Sal. & Wages Pay. Com Stock 2017 Cash + Accts. Rec. Accts. Pay. + + Int. Pay. + Div Jan. 11 4 1