Question: Hello can i get some help completing journal entries below Question 3 Acheron Industries fiscal year ends on December 31st. Wages earned from Dec 1

Hello can i get some help completing journal entries below

Question 3

Acheron Industries fiscal year ends on December 31st. Wages earned from Dec 1 Dec 31, 2024 totaled $836,000. Wages of $35,000 that were earned between December 15th and December 31st will not be paid until after the first of the year.

Record the journal entry on December 31, 2024.

Question 4

On October 1, 2024, Tasmanian Traders was paid $217,000 cash for 700 hours of service to be completed within the next 9 months. On December 31, 2024, the cargo company had fulfilled 483 of the required hours.

Record the adjusting entry on December 31, 2024.

Question 9

On January 1, 2024, Diamond Tech issued 10,000 bonds, each with a face value of $1,000, for 98.2911. The company received cash from the sale of the bonds.

Record the complete journal entry from the sale of the bonds below.

Question 10

On January 1, 2024, Fabrikam Labs issued 1,000 bonds, each with a face value of $1,000, for 102.7323. The stated interest is 3.8%, and the market rate at the time the bonds were issued was 3.2%. The bonds are due on January 1, 2029 (5 year term) with interest payments due annually every January 1st. The company received cash from the sale of the bonds.

Record the complete journal entry for the sale of the bonds below.

Question 11

Continued with Question 10, using the effective-interest method calculate and record the December 31, 2025 journal entry for the bond interest expense including premium/discount amortization, and the payable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!