The accounts listed below appeared in the December 31 trial balance of the Novak Theater. Equipment...

 

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The accounts listed below appeared in the December 31 trial balance of the Novak Theater. Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (a) Debit (1) $196,112 13,560 57,180 2,520 Credit $61.380 162,000 386,200 From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is requir select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) The equipment has an estimated life of 16 years and a salvage value of $22,496 at the end of that time. (Use straight- method.) rom the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, elect "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (1) (2) (3) (4) (5) The equipment has an estimated life of 16 years and a salvage value of $22,496 at the end of that time. (Use straight-line method.) (1) The note payable is a 90-day note given to the bank October 20 and bearing interest at 8%. (Use 360 days for denominator.) In December, 2,110 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. Advertising expense paid in advance and included in Advertising Expense $1,077. 4 Salaries and wages accrued but unpaid $5,135. No. Account Titles and Explanation Debit Credit The accounts listed below appeared in the December 31 trial balance of the Novak Theater. Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (a) Debit (1) $196,112 13,560 57,180 2,520 Credit $61.380 162,000 386,200 From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is requir select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) The equipment has an estimated life of 16 years and a salvage value of $22,496 at the end of that time. (Use straight- method.) rom the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, elect "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (1) (2) (3) (4) (5) The equipment has an estimated life of 16 years and a salvage value of $22,496 at the end of that time. (Use straight-line method.) (1) The note payable is a 90-day note given to the bank October 20 and bearing interest at 8%. (Use 360 days for denominator.) In December, 2,110 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. Advertising expense paid in advance and included in Advertising Expense $1,077. 4 Salaries and wages accrued but unpaid $5,135. No. Account Titles and Explanation Debit Credit

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Adjusting entries Particulars Debit Credit Depreciation 10851 Accumulated depreciation 10851 To reco... View the full answer