Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $150 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $690. c. Depreciation expense for the current year, $3,500. d. Wages earned by employees not yet paid on December 31, $540. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in the current year. f. Income tax expense, $5,480.

Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $150 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $690. c. Depreciation expense for the current year, $3,500. d. Wages earned by employees not yet paid on December 31, $540. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in the current year. f. Income tax expense, $5,480.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 19E: After Bunker Hill Assay Services Inc. had completed all postings for March in the current year...

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