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Concept explainers
Problem 4-6BAPreparing adjusting, reversing, and next period entries P4
The following six-column table for Solutions Co. includes the unadjusted
Required
Page 162
- Complete the six-column table by entering adjustments that reflect the following information:
a. As of December 31. employees had earned $400 of unpaid and unrecorded wages. The next payday is January 4. at which time $1,200 in wages will be paid.
b. The cost of supplies still available at December 31 is $3,450. C. The notes payable require an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $800. The next interest payment, at an amount of $900. is due on January 15.
d. Analysis of the unearned rental fees shows that $3,200 remains unearned at December 31.
e. In addition to the machinery rental fees included in the revenue account balance, the company has earned another $2,450 in unrecorded fees that will be collected on January 31. Die company is also expected to collect $5,400 on that same day for new fees earned in January.
f.
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Chapter 4 Solutions
Fundamental Accounting Principles
- Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage LearningPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeCornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
- Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:CengageCorporate Financial AccountingAccountingISBN:9781305653535Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
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