wP NWP Assessment Player UI Application MOHAMED ROMEO | JACAYLKAN YAABKA gnment 2 Question 3 of 6 -/4 E All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. Novak Company borrowed $17,200 by signing a 12%, one-year note on September 1, 2022. Interest will be paid when the note is repaid. 2. A count of supplies on December 31, 2022, indicates that supplies of $1,548 are on hand. 3. Depreciation on the equipment for 2022 is $1,720. 4. Novak paid $3,612 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Novak collected $51,600 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. 5. 6. Novak performed consulting services for a client in December 2022. The client will be billed $7,224. Novak pays its employees total salaries of $15,480 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 7. 2022. Prepare adjusting entries for the seven items described above. Novak prepares adjustments annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 5. stv MacBook Air
wP NWP Assessment Player UI Application MOHAMED ROMEO | JACAYLKAN YAABKA gnment 2 Question 3 of 6 -/4 E All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. Novak Company borrowed $17,200 by signing a 12%, one-year note on September 1, 2022. Interest will be paid when the note is repaid. 2. A count of supplies on December 31, 2022, indicates that supplies of $1,548 are on hand. 3. Depreciation on the equipment for 2022 is $1,720. 4. Novak paid $3,612 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Novak collected $51,600 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. 5. 6. Novak performed consulting services for a client in December 2022. The client will be billed $7,224. Novak pays its employees total salaries of $15,480 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 7. 2022. Prepare adjusting entries for the seven items described above. Novak prepares adjustments annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 5. stv MacBook Air
Chapter1: Financial Statements And Business Decisions
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O MOHAMED ROMEO | JACAYLKAN YAABKA
wr NWP Assessment Player UI Application
gnment 2
- /4 E
Question 3 of 6 < >
All the accounts have normal balances. The following information has been gathered at December 31, 2022.
1.
Novak Company borrowed $17,200 by signing a 12%, one-year note on September 1, 2022. Interest will be paid when the
note is repaid.
2.
A count of supplies on December 31, 2022, indicates that supplies of $1,548 are on hand.
3.
Depreciation on the equipment for 2022 is $1,720.
4.
Novak paid $3,612 for 12 months of insurance coverage on June 1, 2022.
On December 1, 2022, Novak collected $51,600 for consulting services to be performed evenly from December 1, 2022,
through March 31, 2023.
5.
6.
Novak performed consulting services for a client in December 2022. The client will be billed $7,224.
Novak pays its employees total salaries of $15,480 every Monday for the preceding 5-day week (Monday through Friday). On
Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of
7.
2022.
Prepare adjusting entries for the seven items described above. Novak prepares adjustments annually. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually.)
No.
Account Titles and Explanation
Debit
Credit
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Transcribed Image Text:NWP Assessment Player UI Application
Assignment 2
signment 2
>
Question 3 of 6
Novak Company has the following balances in selected accounts on December 31, 2022.
Accounts Receivable
$0
Accumulated Depreciation-Equipment
Equipment
12,040
Interest Payable
Notes Payable
17,200
Prepaid Insurance
3,612
Salaries and Wages Payable
Supplies
4,214
Unearned Service Revenue
51,600
All the accounts have normal balances. The following information has been gathered at December 31, 2022.
1.
Novak Company borrowed $17,200 by signing a 12%, one-year note on September 1, 2022. Interest will b
note is repaid.
2.
A count of supplies on December 31, 2022, indicates that supplies of $1,548 are on hand.
3.
Depreciation on the equipment for 2022 is $1,720.
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