60.1K

Verified Solution

Question

Accounting

I need to complete the table image
image
The ledger of Wildhorse Co. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue $18,000 22,000 5,600 250,000 120,000 10,200 An analysis of the company's accounts shows the following 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $15,400. 3. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $3,500 related to unpaid salaries and wages. . Depreciation on buildings is $4,560 per year 6. During the month, the company satisfied obligations worth $4,800 related to the Unearned Services Revenue. 7. Unpaid maintenance and repairs costs were $2,25o 4. Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthy (rr no entryis required, Select-Entry-for the account titles and entero automatically indented when the amount is entered. Do not indent manually.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students