On April 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for April legal services was made by the company on May 12. A $700,000 note payable requires 8.2% annual interest, or $4,783, to be paid at the 20th day of each month. The interest was last paid on April 20, and the next payment is due on May 20. As of April 30, $1,594 of interest expense has accrued. Total weekly salaries expense for all employees is $13,000. This amount is paid at the end of the day on Friday of each five-day work week. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3. The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both: The April 30 adjusting entry. The subsequent entry during May to record payment of the accrued expenses. (Use 360 days a year. Do not round intermediate calculations.)
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Business, 21.06.2019 20:00, tiannaetzel
During 2017, sheridan company expected job no. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. sheridan applied overhead based on direct labor cost. actual production required an overhead cost of $260000, $510000 in materials used, and $150000 in labor. all of the goods were completed. what amount was transferred to finished goods?
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Business, 22.06.2019 02:00, sciencegeekgirl2017
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Business, 22.06.2019 11:00, pum9roseslump
While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?
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On April 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for April leg...
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