Hw.98. (a)Prepare adjusting journal entries at year end, December 31, 2020, based on the following supplemental information. (Creditaccount titles are automatically indented when the amount is entered. Do not indent manually.)a.b.C.d.e.No. Account Titles and Explanationa.b.C.d.The equipment has a useful life of 15 years with no salvage value. (Straight-line method being used.)Interest accrued on the bonds payable is $15,315 as of 12/31/20.Prepaid insurance at 12/31/20 is $18,500.The rent payment of $249,600 covered the six months from November 30, 2020 through May 31, 2021.Salaries and wages earned but unpaid at 12/31/20, $23,200.e.DebitCredit Selected amounts from Oriole Company's trial balance of 12/31/20 appear below:1. Accounts Payable2.3. Accumulated Depreciation-EquipmentAllowance for Doubtful AccountsBonds PayableCashCommon StockEquipmentPrepaid InsuranceInterest ExpenseInventoryNotes Payable (due 6/1/21)Prepaid RentRetained EarningsSalaries and Wages Expense4.5.6.7.8.9.10.11.12.13.14.Accounts Receivable15.$128,000140,900212,80025,000510,500143,60064,400872,40031,1009,600297,500219,100249,600811,500317,000(All of the above accounts have their standard or normal debit or credit balance.)

The organization does financial transactions in the business, such as sales purchases, giving…

Selected amounts from Oriole Company's trial balance of 12/31/20 appear below: 1. Accounts Payable 2. 3. 4. Allowance for Doubtful Accounts 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Accounts Receivable Accumulated Depreciation-Equipment 15. Bonds Payable Cash Common Stock Equipment Prepaid Insurance Interest Expense Inventory Notes Payable (due 6/1/21) Prepaid Rent Retained Earnings Salaries and Wages Expense $128,000 140,900 212,800 25,000 510,500 143,600 64,400 872,400 31,100 9,600 297,500 219,100 249,600 811,500 317,000 (All of the above accounts have their standard or normal debit or credit balance.)

Selected amounts from Oriole Company's trial balance of 12/31/20 appear below: 1. Accounts Payable 2. 3. 4. Allowance for Doubtful Accounts 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Accounts Receivable Accumulated Depreciation-Equipment 15. Bonds Payable Cash Common Stock Equipment Prepaid Insurance Interest Expense Inventory Notes Payable (due 6/1/21) Prepaid Rent Retained Earnings Salaries and Wages Expense $128,000 140,900 212,800 25,000 510,500 143,600 64,400 872,400 31,100 9,600 297,500 219,100 249,600 811,500 317,000 (All of the above accounts have their standard or normal debit or credit balance.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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