Solution-What will be the adjusting entries

What will be the adjusting entries

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Question 1: What will be the adjusting entries for the following?

1. The company determined that $7,500 of previously unearned services revenue had been earned at December 31, 2018.

2. Accrued but unrecorded and uncollected services revenue totals $20,000 at December 31,2018.

3. The company purchased all of its equipment when it first began business. At that time, the estimated useful life of the equipment was six years (72 months)

4. Accrued but unpaid salaries total $25000 at December 31, 2018.

5. On June 1, 2011, the company borrowed $100,000 by signing a nine-month, 8 percent note payable. The entire amount, plus interest, is due on March 1, 2019.

6. Office supplies on hand at December 31 total $110.

7. The company's CPA estimates that income taxes expense for the entire year is $7,500. The unpaid portion of this amount is due early in 2019.

Reference no: EM132550944

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What will be the adjusting entries

Reference no: EM132550944

Reference no: EM132550944

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