Tableau DA 3-2: Exercise, Preparing adjusting entries LO P1, P2, P3, P4Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including itsyear-end adjustments. The Tableau dashboard is provided to assist in the work.Selected December-January TransactionsStarted Work for TeloFinished Work for TeloDec. 31 Year-EndPurchased InsuranceDec 1Dec 13Jan 12Dec 7(Dec 24)Jan 5December 24Received $4,000 cash in advance to perform work for ABX over the next four weeks.Purchased SuppliesWages PaidReceived Cash in AdvanceLan 12Dec 24)Jan 5January 5Paid wages of $800 cash to workers Wages Earned By Workers but not yet Paid atYear-EndWages Earned By Workers but not yet Paid at Year-End: $5001Record the cash payment of wages assuming no reversing entries arerecordedNote: Enter debits before credits.DateGeneral JournalDebitCreditWages expenseWages payableJan 05

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Asked Sep 26, 2019
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Tableau DA 3-2: Exercise, Preparing adjusting entries LO P1, P2, P3, P4
Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its
year-end adjustments. The Tableau dashboard is provided to assist in the work.
Selected December-January Transactions
Started Work for Telo
Finished Work for Telo
Dec. 31 Year-End
Purchased Insurance
Dec 1
Dec 13
Jan 12
Dec 7
(Dec 24)
Jan 5
December 24
Received $4,000 cash in advance to perform work for ABX over the next four weeks.
Purchased Supplies
Wages Paid
Received Cash in Advance
Lan 12
Dec 24)
Jan 5
January 5
Paid wages of $800 cash to workers
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Tableau DA 3-2: Exercise, Preparing adjusting entries LO P1, P2, P3, P4 Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statements, including its year-end adjustments. The Tableau dashboard is provided to assist in the work. Selected December-January Transactions Started Work for Telo Finished Work for Telo Dec. 31 Year-End Purchased Insurance Dec 1 Dec 13 Jan 12 Dec 7 (Dec 24) Jan 5 December 24 Received $4,000 cash in advance to perform work for ABX over the next four weeks. Purchased Supplies Wages Paid Received Cash in Advance Lan 12 Dec 24) Jan 5 January 5 Paid wages of $800 cash to workers

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Wages Earned By Workers but not yet Paid at
Year-End
Wages Earned By Workers but not yet Paid at Year-End: $500
1
Record the cash payment of wages assuming no reversing entries are
recorded
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Wages expense
Wages payable
Jan 05
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Wages Earned By Workers but not yet Paid at Year-End Wages Earned By Workers but not yet Paid at Year-End: $500 1 Record the cash payment of wages assuming no reversing entries are recorded Note: Enter debits before credits. Date General Journal Debit Credit Wages expense Wages payable Jan 05

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Expert Answer

Step 1

Recording the transactions of a business in books of company on daily basis is called journal entry. It includes credit to one account and debit to another account.  

Step 2

The journal entry for recording the cash payme...

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Journal entry Account title & explanation Credit (S) Debit (S 300 Date January Wages expenses 05 Wages payable 500 .....Cash 800

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Journal and Ledger Balance

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