example problems

Selected account balances BEFORE adjustment for Wingaut C, at December 31, 2022 (ead of the current year) are shown helow: Information regarding December 2022 adjusting entries: 2. Wisgaet borrowed 5250,000 (a 12% issuing a 120-day note payable dated December 16th, 2022 b. On May 1st Wingat paid 536,000 for insurance coverage for the twelve menth period commencing May lst. HINT: Adjusting entries relative to this item have already been recorded for the months of May through November. related to a mosthly newsletter. HINT: An adjusting eatries relative to this item have already been recorded for the month of Nevember. d. Wisgnat accepted a 18%, 5100,000, 45-day note recrivable from LAMCO dated December 2nd, 2022 c. On Friday Jasuary 2, 2023 Wiegnet employees were paid 530,000 for the TWO five-day work week then ended f. Wingnet bad received a $5,200 eash advasce on December Ist for services to be rendered over the four month period beginning December 1, 2022 and ending March 28, 2023 2. A pitiful L.AM took an inventery of supplies at Dec. 31st claiming that 58,300 were on-hand. h. Depreciation on equipment for December 2022 was calcalated to be $1,520