subject
Business, 25.02.2020 16:56 Greghairston9813

The Amato Theater is nearing the end of the year and is preparing for a meeting with its bankers to discuss the renewal of a loan. The accounts listed below appeared in the December 31, 2020, trial balance. Debit CreditEquipment $202,928 Accumulated Depreciation-Equipment $64,400Notes Payable 162,000Admissions Revenue 386,300Advertising Expense 15,500 Salaries and Wages Expense 57,450 Interest Expense 2,520 From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (1)The equipment has an estimated life of 16 years and a salvage value of $24,432 at the end of that time. (Use straight-line method.)

(2)The note payable is a 90-day note given to the bank October 20 and bearing interest at 8%. (Use 360 days for denominator.)

(3)In December, 2,160 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1.

(4)Advertising expense paid in advance and included in Advertising Expense $1,106.

(5)Salaries and wages accrued but unpaid $4,737.

Adjusting Entries

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 09:30
Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?
Answers: 1
question
Business, 22.06.2019 18:10
Why would an investor invest in your stocks
Answers: 1
question
Business, 23.06.2019 00:40
Skathy lee berggren, a professor of oral communication at cornell university, indicates “a lot of my students re­ally [only] scratch the surface with the type of research they’re doing.” according to andy guess, at inside higher ed, “just because students walk in the door as ‘digital natives’, doesn’t mean they’re equipped to handle the heavy lifting of digital databases and proprietary search engines that comprise the bulk of modern, online re­search techniques.” students erroneously think a google search is research. as you read through the reasons that should stimulate your interest in studying research methods or evaluate the nine factors that guarantee good research, what actions do you propose to narrow the gap between students’ research competence and what’s required of a modern college graduate about to become a manage
Answers: 1
question
Business, 23.06.2019 01:00
Why does the downward-sloping production possibilities curve imply that factors of production are scarce?
Answers: 1
You know the right answer?
The Amato Theater is nearing the end of the year and is preparing for a meeting with its bankers to...
Questions
question
Mathematics, 30.04.2021 23:00
question
Mathematics, 30.04.2021 23:00
question
Mathematics, 30.04.2021 23:00
Questions on the website: 13722366