Question

Read the reguiements Requirement 1. Journalize the adjusting entry needed on December 31 for each of the tems affecting Lindy Landscaping Assume Lindy records adjusting entries only at the end of the year (Record debits fst then credits Select the explanation on the last ine of the journal entry table) a. Each Friday, Lindy pays employees for the current week's work. The anmount of the weekly payrol is $9.000 for a five day workweek This year December 31 falls on a Tuesday Lindy will pay is employees on January 3 Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input feids and then cick Check Answer pans remaning Clear Al Check Amer P type here to search TOSHIBA PRISC DEL MEAK ... TO ESC BACK SPACE HOME &. %23 7. ENTER eun

Answer 1

Date	Accounts and Explanation	Debit	Credit
Dec 31	Salaries & wages expense	$3,600
	Salaries & wages payable		$3,600
	($9,000 x 2/5)
Dec 31	Insurance expense	$3,000
	Prepaid Insurance		$3,000
	($6,000/2)
Dec 31	Supplies expense	$5,500
	Supplies		$5,500
	($3,400 + $5,100 - $3,000)
Dec 31	Unearned revenue	$1,800
	Landscape services revenue		$1,800
	($4,500 x 40%)
Dec 31	Accounts receivable	$6,000
	Landscape services revenue		$6,000
Dec 31	Depreciation expense	$5,000
	Accumulated depreciation - Equipment		$3,000
	Accumulated depreciation - Trucks		$2,000
Dec 31	Interest expense	$300
	Interest payable		$300