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a. On April 1, the company hired an attorney for April for a flat fee of $1,000. Payment for April legal services was ma

Posted: Tue Jul 05, 2022 11:50 am
by answerhappygod
A On April 1 The Company Hired An Attorney For April For A Flat Fee Of 1 000 Payment For April Legal Services Was Ma 1
A On April 1 The Company Hired An Attorney For April For A Flat Fee Of 1 000 Payment For April Legal Services Was Ma 1 (47.51 KiB) Viewed 16 times
a. On April 1, the company hired an attorney for April for a flat fee of $1,000. Payment for April legal services was made by the company on May 12. b. As of April 30, $1,257 of interest expense has accrued on a note payable. The full interest payment of $3,770 on the note is due on May 20. c. Total weekly salaries expense for all employees is $8,000. This amount is paid at the end of the day on Friday of each five-day workweek. 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 and the subsequent entry during May to record payment of the accrued expenses. (Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 4 Date Apr 30 Note: Enter debits before credits. 5 On April 1, the company hired an attorney for April for a flat fee of $1,000. Payment for April legal services was made by the company on May 12. Prepare the required adjusting entry, if any. 6 General Journal Debit Credit >