The following information relates to Purple Company for the…
The following information relates to Purple Company for the year 2021. Retained Earnings, January 1, 2021 $ 44,000 Rent expense $11,500 Supplies expense $19,500 Unearned Revenue $17,500 Dividends during 2021 $ 5,700 Revenue $140,000 Accounts Payable $43,000 Utilities expense $ 5,500 Salaries and wages expense $51,000 Depreciation expense $3,500 Inventory $100,000 Accounts Receivable $6,730 Prepare an Income Statement for Purple Company for December 31, 2021
Read DetailsA company pays its two office employees each Friday at the r…
A company pays its two office employees each Friday at the rate of $100 per day each for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:
Read DetailsA company pays its two office employees each Friday at the r…
A company pays its two office employees each Friday at the rate of $100 per day each for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:
Read DetailsThe following information relates to Purple Company for the…
The following information relates to Purple Company for the year 2021. Retained Earnings, January 1, 2021 $ 44,000 Rent expense $11,500 Supplies expense $19,500 Unearned Revenue $17,500 Dividends during 2021 $ 5,700 Revenue $140,000 Accounts Payable $43,000 Utilities expense $ 5,500 Salaries and wages expense $51,000 Depreciation expense $3,500 Inventory $100,000 Accounts Receivable $6,730 Prepare an Income Statement for Purple Company for December 31, 2021
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