Answer Only question 2- Assume it is January 2018 and you are closing the books

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Answer Only question 2-   Assume it is January 2018 and you are closing the books for the month as of 12/31/2017 on the accrual basis. The following subcontractor invoices were received after 12/31/2017 and have not yet been recorded or paid. What is the total amount that needs to be accrued with a journal entry for December 2017? Subcontractor Invoice Date PO # Description Amount P&R Enterprises 12/21/2017 313010 12/2017 Janitorial Services $29,251.56 Orkin 1/1/2017 313921 1/2018 Pest Control Services      2,754.69 Johnson Controls 11/30/2017 313592 BAS PM - Semi-Annual      5,000.00 Laz Parking 12/1/2017 313244 Parking attendant - Dec 17    13,557.35 Roadrunner Recycling 1/31/2018 314800 Jan Trash Service      7,262.95 Total $57,826.55 Question 2 The journal entry in question 1 would be recorded as: a) an adjusting entry b) a memo entry c) a reversing entry d) none of the above Answer Only question 2-   Assume it is January 2018 and you are closing the books for the month as of 12/31/2017 on the accrual basis. The following subcontractor invoices were received after 12/31/2017 and have not yet been recorded or paid. What is the total amount that needs to be accrued with a journal entry for December 2017? Subcontractor Invoice Date PO # Description Amount P&R Enterprises 12/21/2017 313010 12/2017 Janitorial Services $29,251.56 Orkin 1/1/2017 313921 1/2018 Pest Control Services      2,754.69 Johnson Controls 11/30/2017 313592 BAS PM - Semi-Annual      5,000.00 Laz Parking 12/1/2017 313244 Parking attendant - Dec 17    13,557.35 Roadrunner Recycling 1/31/2018 314800 Jan Trash Service      7,262.95 Total $57,826.55 Question 2 The journal entry in question 1 would be recorded as: a) an adjusting entry b) a memo entry c) a reversing entry d) none of the above

Explanation / Answer

for orkin & road runner recycling invoice accrual is not made as it is related to services of Jan 2018. it will be accrued in 2018.

total amount to be accrued= 47808.91

2. it is recorded as an adjusting entry.

Subcontractor Amount R&R    29,251.56 Johnson      5,000.00 Laz parking    13,557.35    47,808.91

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