Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. wages of $8,000 are earned by workers but not paid

Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation...

70.2K

Verified Solution

Question

Accounting

Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on the companys equipment for the year is $11,920. The Supplies account had a $340 debit balance at the beginning of the year. During the year, $5,924 of supplies are purchased. A physical count of supplies at December 31 shows $642 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $2,000 of unexpired insurance benefits remain at December 31. The company has earned (but not recorded) $850 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10

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

Finance
1.2K views

16-Large Manufacturing, Inc. is considering investing in some new equipment whose data are shown below. The...

General Management
1.2K views

Given that financial fraud occurs even with the presence of outside auditors, what steps do companies...

Physics
1.2K views

In the figure shown S and S are effective point sources of radiation excited by...

Geometry
1.2K views

Select the correct answer from each drop-down menu.Car Mod ...

Basic Math
1.2K views

The only New Zealander to appear on the country's banknotes while still alive were famed...

Accounting
1.2K views

On February 15, Jewel Company buys 6,800 shares of Marcelo Corporation at $28.65...

Accounting
1.2K views

Where shareholders have restricted the sale of the...

Accounting
1.2K views

Web Wizard, Incorporated, has provided information technology services for several years. For the first two...

Accounting
1.2K views

Sweet Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has...

Accounting
1.2K views

39. Carolina is a single filing California taxpayer. In 2021 her Federal adjusted gross income...

Accounting
1.2K views

Research a current company's financial statement that the SEC has present or past investigations on...

Finance
1.2K views

Appendix 1.1: Table 1.1 - Weekly discrete rate of returns Week Date ...