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28 Sep 2019
X Company prepares monthly financial statements. In March, itsaccountant recorded entries as follows:
made an adjusting entry for $2,076 of unpaid interest on a bankloan
recorded $4,165 for wages paid
made an adjusting entry for $595 of wages that were earned byemployees but not paid
made an adjusting entry for $1,420 of insurance that hadexpired
recorded $1,550 that was received from a customer formerchandise that X Company special ordered and agreed to deliver inApril.
As a result of these entries, total equities decreasedby
(side note: I got the answer of $6,706 but that isincorrect)
X Company prepares monthly financial statements. In March, itsaccountant recorded entries as follows:
made an adjusting entry for $2,076 of unpaid interest on a bankloan
recorded $4,165 for wages paid
made an adjusting entry for $595 of wages that were earned byemployees but not paid
made an adjusting entry for $1,420 of insurance that hadexpired
recorded $1,550 that was received from a customer formerchandise that X Company special ordered and agreed to deliver inApril.
As a result of these entries, total equities decreasedby
(side note: I got the answer of $6,706 but that isincorrect)
Jamar FerryLv2
28 Sep 2019
