show calculations for your answer Problem 2 - Adjusting Journal Entries (18 points) Roddick Co. is at

show calculations for your answer

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Problem 2 - Adjusting Journal Entries (18 points) Roddick Co. is at its accounting year-end, December 31, 2021. The following data is provided in order to adjust the accounts. a. The company borrowed $80,000 at 5% for 2 years on March 1 of the current year. b. On May 1, 2021, the company received $12,000 to provide consulting services for a client (evenly) over the next 9 months. c. The supplies account has a balance of $5,000 and a count of the supplies-on-hand at December 31st is $3,000 d. The company performed services in December for $80,000 but has not yet billed customers. e. The company pays its employees every other Friday. Employees work five days each week, and wages of $40,000 are earned each week. December 31st of the current year is a Thursday, and the next pay date is Friday, January 8th. f. Annual depreciation expense is $9,000. 80000 x 0.05= 4000 12 = 333.33 10 Problem 2 - Adjusting Journal Entries (18 points) Roddick Co. is at its accounting year-end, December 31, 2021. The following data is provided in order to adjust the accounts. a. The company borrowed $80,000 at 5% for 2 years on March 1 of the current year. b. On May 1, 2021, the company received $12,000 to provide consulting services for a client (evenly) over the next 9 months. c. The supplies account has a balance of $5,000 and a count of the supplies-on-hand at December 31st is $3,000 d. The company performed services in December for $80,000 but has not yet billed customers. e. The company pays its employees every other Friday. Employees work five days each week, and wages of $40,000 are earned each week. December 31st of the current year is a Thursday, and the next pay date is Friday, January 8th. f. Annual depreciation expense is $9,000. 80000 x 0.05= 4000 12 = 333.33 10