3. Prepare the required entries for the following transactions: (a) TigerPaw Company pays daily wages of $645 (Monday - Friday). Paydays are every other Friday. Prepare the Monday, January 31 adjusting entry assuming that the last payday was Friday, January 21. (b) Prepare the journal entry to record the TigerPaw payroll on Friday, February 4. (c) Annual depreciation expense on the company's fixed assets is $39,600. Prepare the adjusting entry to recognize depreciation for the month of January (d) The company's Office Supplies account shows a debit balance of $3,755. A count of office supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January 31 adjusting entry for Office Supplies.
3. Prepare the required entries for the following transactions: (a) TigerPaw Company pays daily wages of $645 (Monday - Friday). Paydays are every other Friday. Prepare the Monday, January 31 adjusting entry assuming that the last payday was Friday, January 21. (b) Prepare the journal entry to record the TigerPaw payroll on Friday, February 4. (c) Annual depreciation expense on the company's fixed assets is $39,600. Prepare the adjusting entry to recognize depreciation for the month of January (d) The company's Office Supplies account shows a debit balance of $3,755. A count of office supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January 31 adjusting entry for Office Supplies.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3. Prepare the required entries for the following transactions:
(a) TigerPaw Company pays daily wages of $645 (Monday - Friday). Paydays are every other
Friday. Prepare the Monday, January 31 adjusting entry assuming that the last payday was
Friday, January 21.
(b) Prepare the journal entry to record the TigerPaw payroll on Friday, February 4.
(c) Annual depreciation expense on the company's fixed assets is $39,600. Prepare the
adjusting entry to recognize depreciation for the month of January
(d) The company's Office Supplies account shows a debit balance of $3,755. A count of office
supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January
31 adjusting entry for Office Supplies.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcd05a453-7f37-4120-b48d-049b43a93014%2F50f2dba2-70af-42ea-922a-2fe9154d3502%2Fyo45c8r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:otected VieW - Saved to this PC
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Review
View
Help
ences
3. Prepare the required entries for the following transactions:
(a) TigerPaw Company pays daily wages of $645 (Monday - Friday). Paydays are every other
Friday. Prepare the Monday, January 31 adjusting entry assuming that the last payday was
Friday, January 21.
(b) Prepare the journal entry to record the TigerPaw payroll on Friday, February 4.
(c) Annual depreciation expense on the company's fixed assets is $39,600. Prepare the
adjusting entry to recognize depreciation for the month of January
(d) The company's Office Supplies account shows a debit balance of $3,755. A count of office
supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January
31 adjusting entry for Office Supplies.
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