ccounts Receivable decrease...\". .$1,700 5,500 2,000 775 ffice Supplies increas

Question

ccounts Receivable decrease...". .$1,700 5,500 2,000 775 ffice Supplies increase. UESTION 4 (15 POINTS) endall Enterprises has collected the following data for the year end December 31, 2017. Using the ata prepare the required adjusting entries The beginning balance of Office Supplies was $54,500. During the year Kendall purchased office supplies for $25,000. At December 31 the office supplies on hand totaled $ 15,000. Each Friday Rose pays for the current week's work. The amount of each weekly payroll is $20,000 for a five day work week (Monday to Friday). This year December 31 falls on a Tuesday. a. b. UESTION 5 (25 POINTS) nswer the following questions with the correct answer. Which situation indicates a net loss within the income statement? a. 1. Total credits exceed total debits ual total credits

Explanation / Answer

a Supplies expense 64500 =54500+25000-15000    Office supplies 64500 b Salaries and wages expense 8000 =20000/5*2       Salaries and wages payable 8000

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