Business, 20.02.2020 19:37 klaw4497

The Jamesway Corporation had the following situations on December 2021.

On December 10, 2021, Jamesway received a $4,000 payment from a customer for services begun on that date and which were completed by December 31, 2021. Deferred service revenue was credited.
On December 1, 2021, the company paid a local radio station $2,000 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited.
Employee salaries for the month of December totaling $16,000 will be paid on January 7, 2022.
On August 31, 2021, Jamesway borrowed $60,000 from a local bank. A note was signed with principal and 8% interest to be paid on August 31, 2022.
Prepare the necessary adjusting entries at its year-end of December 31, 2021. No adjusting entries were recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 15:00

Ineed this asap miguel's boss asks him to distribute information to the entire staff about a mandatory meeting. in 1–2 sentences, describe what miguel should do.

Answers: 1

Answer

Business, 22.06.2019 15:20

Gulliver travel agencies thinks interest rates in europe are low. the firm borrows euros at 5 percent for one year. during this time period the dollar falls 11 percent against the euro. what is the effective interest rate on the loan for one year? (consider the 11 percent fall in the value of the dollar as well as the interest payment.)

Answers: 2

Answer

Business, 22.06.2019 20:00

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability

Answers: 2

Answer

Business, 22.06.2019 21:10

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?

Answers: 3

Answer

You know the right answer?

The Jamesway Corporation had the following situations on December 2021.

On December 10,...

Questions