Problems A, B, and C

College Accounting Chapters 1-13 15th Edition

Computing adjustments for uncollectible accounts, depreciation, and payroll items. For each of the following independent situations, indicate the adjusting entry that must be made on the December 31, 2019, worksheet. Omit descriptions. a. During the year 2019, Sampson Company had net credit sales of $1.950.000. Past experience Exercise 12.3 Objective 12-2 shows that 1.5 percent of the firm's net credit sales result in uncollectible accounts. Equipment purchased by Park Consultancy for $38,220 on January 2, 2019, has an estimated useful life of 10 years and an estimated salvage value of $2,700. What adjustment for depre- ciation should be recorded on the firm's worksheet for the year ended December 31, 2019? On December 31, 2019, Giant Plumbing Supply owed wages of S11,400 to its factory employ- ees, who are paid weekly b. e