Question: Prepare the adjusting entries a b C C d e f h Evaluation of the years sales indicated that warranties related to current years sales
Prepare the adjusting entries
a b C C d e f h Evaluation of the years sales indicated that warranties related to current years sales were $75,000. Note receivable is an 8% note received July 1, 2023 and Due is on June 30, 2024 There are two notes in the notes payable balance. Interest amounts and dates are in the transactions above. (Calculate interest separately but record together) The insurance policy was a year's policy purchased on June 1, 2022. Office supplies on hand were $2,500 and store supplies on hand were $5,051. Depreciation on the building is calculated using straight line with a 25 year life and $50,000 residual value. Depreciation for the office equipment is calculated using double declining balance method, has a five year life and was purchased three years ago. Information related to the depreciation calculation for the store equipment is in the transactions above Payroll for April is going to be paid in early May. Salaries earned were $40,000. The FICA rate is 7.65% and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of 15%
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