The following information is known for the month of December: 1. Purchases of supplies for...
80.2K
Verified Solution
Question
Accounting
The following information is known for the month of December: 1. Purchases of supplies for cash during December were $3,900. Supplies on hand at the end of December equal $3,200. 2. No insurance payments are made in December. Insurance expired in December is $1,700. 3. November salaries payable of $10,400 were paid to employees in December. Additional salaries for December owed at the end of the year are $15,400. 4. On December 1, Golden Eagle received $3,600 from a customer for rent for the period December through February. By the end of December, one month of rent has been provided. Required: For each item, (a) record any transaction during the month of December, and (b) prepare the related December 31 year-end adjusting entry. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No A B C Transaction 1(a) 1(b) 2(a) Supplies Cash Salaries Payable Insurance Expense Cash Deferred Revenue General Journal Debit 10,400 1,500 Credit 1,700 1,700 Check my work 10,400 1,500
The following information is known for the month of December: 1. Purchases of supplies for cash during December were $3,900. Supplies on hand at the end of December equal $3,200. 2. No insurance payments are made in December. Insurance expired in December is $1,700. 3. November salaries payable of $10,400 were paid to employees in December. Additional salaries for December owed at the end of the year are $15,400. 4. On December 1, Golden Eagle received $3,600 from a customer for rent for the period December through February. By the end of December, one month of rent has been provided. Required: For each item, (a) record any transaction during the month of December, and (b) prepare the related December 31 year-end adjusting entry. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) The following information is known for the month of December: 1. Purchases of supplies for cash during December were $3,900. Supplies on hand at the end of December equal $3,200. 2. No insurance payments are made in December. Insurance expired in December is $1,700. 3. November salaries payable of $10,400 were paid to employees in December. Additional salaries for December owed at the end of the year are $15,400. 4. On December 1, Golden Eagle received $3,600 from a customer for rent for the period December through February. By the end of December, one month of rent has been provided. Required: For each item, (a) record any transaction during the month of December, and (b) prepare the related December 31 year-end adjusting entry. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
The following information is known for the month of December: 1. Purchases of supplies for cash during December were $3,900. Supplies on hand at the end of December equal $3,200. 2. No insurance payments are made in December. Insurance expired in December is $1,700. 3. November salaries payable of $10,400 were paid to employees in December. Additional salaries for December owed at the end of the year are $15,400. 4. On December 1, Golden Eagle received $3,600 from a customer for rent for the period December through February. By the end of December, one month of rent has been provided. Required: For each item, (a) record any transaction during the month of December, and (b) prepare the related December 31 year-end adjusting entry. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No A B C Transaction 1(a) 1(b) 2(a) Supplies Cash Salaries Payable Insurance Expense Cash Deferred Revenue General Journal Debit 10,400 1,500 Credit 1,700 1,700 Check my work 10,400 1,500

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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.