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Business, 10.01.2020 03:31 clairajogriggsk
The following transactions occurred during december 31, 2018, for the microchip company.
1) on october 1, 2021, microchip lent $84,000 to another company. a note was signed with principal and 10% interest to be paid on september 30, 2022.
2) on november 1, 2021, the company paid its landlord $7,500 representing rent for the months of november through january. prepaid rent was debited.
3) on august 1, 2021, collected $13,500 in advance rent from another company that is renting a portion of microchip’s factory. the $13,500 represents one year’s rent and the entire amount was credited to deferred rent revenue.
4) depreciation on office equipment is $5,000 for the year.
5) vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,500. the company records vacation pay as salaries expense.
6) microchip began the year with $2,500 in its asset account, supplies. during the year, $7,000 in supplies were purchased and debited to supplies. at year-end, supplies costing $3,500 remain on hand.
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Business, 22.06.2019 10:00, lm942747
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The following transactions occurred during december 31, 2018, for the microchip company.
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