$18,482, which was added to the Office Supplies account. The inventory of supplies available at December 31 totaled $3,938. b. The Prepaid Insurance account had a $30,624 debit balance at December 31 before adjusting for the costs of any expired coverage for the year. An analysis of prepaid insurance shows that $22,041 of unexpired insurance coverage remains at year- end. c. The company has 15 employees, who earn a total of $1,850 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31 is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6 of next year.
$18,482, which was added to the Office Supplies account. The inventory of supplies available at December 31 totaled $3,938. b. The Prepaid Insurance account had a $30,624 debit balance at December 31 before adjusting for the costs of any expired coverage for the year. An analysis of prepaid insurance shows that $22,041 of unexpired insurance coverage remains at year- end. c. The company has 15 employees, who earn a total of $1,850 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31 is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6 of next year.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:$18,482, which was added to the Office Supplies account. The inventory of supplies available at December 31 totaled $3,938.
b. The Prepaid Insurance account had a $30,624 debit balance at December 31 before adjusting for the costs of any expired
coverage for the year. An analysis of prepaid insurance shows that $22,041 of unexpired insurance coverage remains at year-
end.
c. The company has 15 employees, who earn a total of $1,850 in salaries each working day. They are paid each Monday for their
work in the five-day workweek ending on the previous Friday. Assume that December 31 is a Tuesday, and all 15 employees
worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on
Monday, January 6 of next year.
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