60.1K

Verified Solution

Link Copied!

E3-23 (similar to) Question Help Consider the following situations for Brunswick Welding Services: (Click the icon to view the situations) Journalize the adjusting entry needed on December 31 for each situation. Use the letters to label the journal entries (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) a. Depreciation for the current year includes Equipment. $2,300 More Info Date Accounts and Explanation Credit fa) Dec. 31 a. Depreciation for the current year includes equipment, $2,300. b. Each Monday, Brunswick pays employees for the previous week's work. The amount of weekly payroll is $6,300 for a seven-day workweek (Monday to Sunday). This year. December 31 falls on Thursday c. The beginning balance of Office Supplies was $2,000. During the year, Brunswick purchased office supplies for $2,600, and at December 31 the office supplies on hand totaled $1,000. d. Brunswick prepaid a two full years' insurance on October 1 of the current year, $6,720. Record insurance expense for the year ended December 31. e. Brunswick had earned $3.700 of uneared revenue. f. Brunswick had incurred (but not recorded) $130 of interest expense on a note payable. The interest will not be paid until February 28 g. Brunswick billed customers $7.500 for welding services performed Print Done Choose from any list or enter any number in the input fields and then click Check Answer A parts Clear All Check Answer remaining

Answer & Explanation Solved by verified expert

See Answer