ericwheeler821
05.02.2021 •
Business
The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2021, trial balances contained the following account information:
Nov. 30 Dec. 31
Dr. Cr. Dr. Cr.
Supplies 2,300 3,800
Prepaid insurance 6,800 4,900
Salaries payable 14,000 15,800
Deferred rent revenue 3,600 1,800
The following information also is known:
The December income statement reported $2,800 in supplies expense.
No insurance payments were made in December.
$14,000 was paid to employees during December for salaries.
On November 1, 2021, a tenant paid Righter $5,400 in advance rent for the period November through January. Deferred rent revenue was credited.
Required:
a. Using the above information for December, write down the T-accounts.
b. Using the above information, prepare the adjusting entries Righter recorded for the month of December.
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Ответ:
The reason Banksy's advice was "not to buy anything from anybody, unless it was created for sale in the first place." Was because Bansky's own art was shredded because it was going to be sold. Bansky did not want to sell his art in the first place. Which is why he says to only buy something from someone if they truly want it to be sold. Also, that it should only be okay if someone were to buy something from someone else only if the creator made it and approved of it being put up for bid or being sold.
Explanation: