Complete the adjusting journal entries for each items

Assignment Help Accounting Basics

Reference no: EM131499235

Question: A friend has asked you to look at the accounts of his small restaurant and recommend the end-of-period adjusting entries. After viewing the accounts, it was apparent that the following adjusting entries were required. Complete the adjusting journal entries for each of the following items.

a. Wages of $2,877 and salaries of $1,400 have been accrued but not paid.

b. A total of $8,800 of prepaid rent has been consumed.

c. Total depreciation expense of $10,700 must be recognized, consisting of kitchen equipment, $4,900, and furnishings $5,800.

d. A total of $4,000 of prepaid insurance must be expensed.

e. Supplies of $1,218 have been used but not expensed.

f. Interest on a note payable in the amount of $436 must be accrued.

Reference no: EM131499235

Questions Cloud

How does the integration of hr with the organization : How does the integration of HR with the organizational culture contribute to the success of Google, Scripps, and UPS?

Determine unknown cash sales revenue : A business using the cash basis of accounting cannot locate all of its records for a given month of operations. Beginning cash was $22,260 and ending cash.

What is the monthly rental expense : A restaurant pays $10,800 in advance for six months' building rent and recognizes rental expense every month.

What do they suggest is the nature of power : What do they suggest is the nature of "power," and in what ways are power and culture related? In what ways do the panelists define and discuss "family culture?

Complete the adjusting journal entries for each items : A friend has asked you to look at the accounts of his small restaurant and recommend the end-of-period adjusting entries.

Areas and any objective of the tax policy : Research the government's tax/subsidy policy in these areas and any objective of the tax policy.

Create a process and insure employee performance : What technology would help this business create a process and insure employee performance is evaluated? What can technology do to reduce HR labor.

Information about an economy : Let's say we have the following information about an economy. C: Consumption spending by households = $800 billion

Estimate closing value of the linen inventory : The following transactions occurred for a new motel prior to and during the first month of operations. Study the transactions shown below and record necessary.

User Account

All Pages