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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

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 8SPB: UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Lewis Warehouse used the allowance method to record the...
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)) 75% wistory Bookmarks Window Help A education.wiley.com 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 5 Ctv N MacBook Air 888 DII esc FI FS #3 $ & * 2 3 4 5 6 8 9 Q W E R Y U A S F G H J K C V ..
Transcribed Image Text:)) 75% wistory Bookmarks Window Help A education.wiley.com 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 5 Ctv N MacBook Air 888 DII esc FI FS #3 $ & * 2 3 4 5 6 8 9 Q W E R Y U A S F G H J K C V ..
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. 5 tv MacBook Air esc 80 F2 F5 F6 F7 FB @ %23 $ * 1 2 3 4 6. 7 8. Q W E tab Y A caps lock F G K C V B
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. 5 tv MacBook Air esc 80 F2 F5 F6 F7 FB @ %23 $ * 1 2 3 4 6. 7 8. Q W E tab Y A caps lock F G K C V B
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