Question: please help me, only have 20 mins Required information [The following information applies to the questions displayed below.] a. M&R Company provided $2,400 in services
![applies to the questions displayed below.] a. M\&R Company provided $2,400 in](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2024/10/6717b3c94eefd_6006717b3c8b2989.jpg)
Required information [The following information applies to the questions displayed below.] a. M\&R Company provided $2,400 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company's year-end. b. Wage expenses of $1,400 have been incurred but are not paid as of December 31 . c. M\&R Company has a $5,400 bank loan and has incurred (but not recorded) 6% interest expense of $324 for the year ended December 31 . The company will pay the $324 interest in cash on January 2 following the company's year-end. d. M\&R Company hired a firm that provided lawn services during December for \$540. M\&R will pay for December lawr services on January 15 following the company's year-end. e. M\&R Company has earned $240 in interest tevenue from investments for the year ended December 31 . The interes revenue will be received on January 15 following the company's year-end. f. Salary expenses of $940 have been earned by supervisors but not paid as of December 31. repare year-end adjusting journal entries for M\&R Company as of December 31 for each of the above separate cases. Journal entry worksheet M\&R Company provided $2,400 in services to customers in December. Those customers are expected to pay the company sometime in January following the company's year-end. Note: Enter debits before credis. Required information [The following information applies to the questions displayed below.] a. M\&R Company provided $2,400 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company's year-end. b. Wage expenses of $1,400 have been incurred but are not paid as of December 31 . c. MBR Company has a $5,400 bank loan and has incurred (but not recorded) 6% interest expense of $324 for the year ended December 31 . The company will pay the $324 interest in cash on January 2 following the company's year-end. d. MSR Company hired a firm that provided lawn services during December for \$540. MSR will pay for December lawn services on January 15 following the company's year-end. e. MSR Company has earned $240 in interest revenue from investments for the year ended December 31 . The interest revenue will be recelved on January 15 following the company's year-end. f. Salary expenses of $940 have been earned by supervisors but not paid as of December 31 . For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically. identy the accounts and amounts (including (+) increase or () decrease) for each transaction or event
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
