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Posted: November 16th, 2023
Prince Sultan College for Tourism & Business ACCT acct 111 Ch 3: Adjusting the Accounts Adjusting Entries for Accruals Ex. 192
Ch 3: Adjusting the AccountsAdjusting Entries for AccrualsEx. 192Prepare the necessary adjusting entry for each of the following:1. Services provided but unrecorded totaled $900.2. Accrued salaries at year-end are $1,000.3. Depreciation for the year is $600.Ex. 194Fielder Company has an accounting fiscal year which ends on June30. The company also has a policy of paying the weekly payroll onFriday. Payroll records indicate the following salary costs wereincurred.DateAmountMonday, June 28$3,000Tuesday, June 293,800Wednesday, June 302,800Thursday, July 13,000Friday, July 22,400Instructionsa. Prepare any necessary adjusting journal entries that should bemade at year end on June 30.b. Prepare the journal entry to record the payment of the weeklypayroll on July 2.Ex. 195On Friday of each week, Noble Company pays its factorypersonnel weekly wages amounting to$40,000 for a five-day work week.Instructionsa. Prepare the necessary adjusting entry at year end, assumingDecember 31 falls on Wednesday.b. Prepare the journal entry for payment of the week's wages onthe payday which is Friday, January 2 of the next year.
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