70.2K

Verified Solution

Link Copied!

1. At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $16,000. Employees have been paid for work done up to December 27, but the $1,100 they have earned for December 2831 has not yet been paid or recorded. Prepare the adjusting journal entry on December 31. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. 2. At December 31, the unadjusted trial balance of H&R Tacks reports Interest Payable of $0 and Interest Expense of $0. Interest incurred and owed in December totals $450. Prepare the adjusting journal entry on December 31. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. 3. At December 31, the unadjusted trial balance of H&R Tracks reports Software of $24,000 and zero balances in Accumulated AmortizationIntangibles and Amortization Expense. Amortization for the period is estimated to be $4,800. Prepare the adjusting journal entry on December 31. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.

Answer & Explanation Solved by verified expert

See Answer