- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 1 (215.75 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 2 (338.42 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 3 (305.06 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 4 (310.96 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 5 (385.88 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 6 (364.34 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 7 (413.17 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 8 (435.94 KiB) Viewed 51 times
- Pharoah Company Has A September 30 Fiscal Year End And Prepares Adjusting Entries On An Annual Basis The Trial Balance 9 (502.67 KiB) Viewed 51 times
Pharoah Company has a September 30 fiscal year end and prepares adjusting entries on an annual basis. The trial balance included the following selected accounts: Accumulated depreciation $4,750 Depreciation expense 0 Interest expense 3,500 Interest payable 0 Interest receivable 0 Interest revenue 0 Salaries expense 155,000 Salaries payable O
Additional information for its September 30, 2021, year-end adjustments: Pharoah has a two-year, 4% note receivable for $5,000 that was issued on April 1, 2021. Interest is payable every six months, on October 1 and April 1. Principal is payable at maturity. Pharoah collected the correct amount on October 1, 2021. 2. Accrued salaries as at September 30, 2021, were $2,400. Payroll totalling $3,150 was paid on October 2, 2021. Pharo has a five-year, 5% note payable for $84,000 issued in 2019. Interest is payable quarterly on January 31, April 30, July 31, and October 31 each year. Pharoah paid the correct amounts in 2021. 4. Depreciation expense for the year ended September 30, 2021, was $4,750. (a) 3
Sept. 30 Bal. Sept. 30 Bal. V Salaries Expense 155000 Interest Expense 3500 Accumulated Depreciation Sept. 30 Bal 4750
Date Account Titles and Explanation Sept. 30 Interest Expense Interest Payable (To record accrued interest) A Sept. 30 Salaries Expense Salaries Payable (To record accrued salaries) Sept.30 Interest Expense Interest Payable (To record accrued interest) Sent 30 Depreciation Expense Debit 100 2400 700 4750 Credit 100 2400 700
Sept. 30 Depreciation Expense 4750 4750 (To record depreciation) A Post adjusting journal entries for items 1 to 4 above. (Post entries in the order of journal entries presented above. Round answers to 0 decimal places, e.g. 5,275.) Interest Receivable Sept. 30 100 69 Interest Revenue Accumulated Depreciation Sept. 30 Bal.
Sept. 30 Sept. 30 Bal. Sept. 30 Bal. 100 Interest Revenue 12 Sept. 30 Bal. Salaries Payable Salaries Expense 155.000 M 69
Sept. 30 Bal. Sept. 30 Bal. Salaries Expense 155,000 27 Interest Payable Interest Expense 3.500
Sept. 30 Bal. Interest Expense 3.500 45 Accumulated Depreciation Sept. 30 Bal. Depreciation Expense V 4,750
$ eTextbook and Media Depreciation Expense 42 V 0.