Question: Part 1: Part 2: Part 3: Part 4: Part 5: Determining Wages Paid The wages payable and wages expense accounts at August 31, after adjusting

Part 1: Part 1: Part 2: Part 3: Part 4:Part 5: Determining Wages

Part 2:

Paid The wages payable and wages expense accounts at August 31, after

Part 3:

adjusting entries have been posted at the end of the first month

Part 4:of operations, are shown in the following T accounts: Wages Payable WagesPart 5:

Expense Bal. 4,680 Bal. 138,250 Determine the amount of wages paid during

Determining Wages Paid The wages payable and wages expense accounts at August 31, after adjusting entries have been posted at the end of the first month of operations, are shown in the following T accounts: Wages Payable Wages Expense Bal. 4,680 Bal. 138,250 Determine the amount of wages paid during the month. Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $2,261. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,063. 88 Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $19,020. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of insurance expired during the year is $14,460. If an amount box does not require an entry, leave it blank. b. The amount of unexpired insurance applicable to future periods is $4,560. If an amount box does not require an entry, leave it blank. Adjusting Entries for Prepaid and Accrued Taxes A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $5,760 to the city for taxes (license fees) for the next 12 months and debited the prepaid taxes account. A-Z Construction is also required to pay in January an annual tax (on property) for the previous calendar year. The estimated amount of the property tax for the current year (May 1 to December 31) is $24,090. a. Journalize the two adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31, the end of the current year. If an amount box does not require an entry, leave it blank. License fees Property tax 11 b. What is the amount of tax expense for the current year? Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,970. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank

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