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1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount Bill Frequency 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Shc 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Shc 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Shc Hot Cakes LLC Else's Hammer Shop ABC Plumbing Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense Accounts Payable 464675 ADD24AF381 9881815 Credit 1. Accrual needed by vendor at 3/31/2022 (Assume there is currently no accrual for each vendor): *Please include all formulas/calculations used to get the accrual amount* Vendor Accrual Needed 464676 5487341 9881816 9881817 83484.1 Annually 200 Monthly 5679.85 Quarterly 50.25 Monthly 5678.87 Monthly 200 Monthly 751.51 Monthly 50.25 Monthly 785.48 Monthly 50.25 Monthly

1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount Bill Frequency 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Shc 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Shc 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Shc Hot Cakes LLC Else's Hammer Shop ABC Plumbing Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense Accounts Payable 464675 ADD24AF381 9881815 Credit 1. Accrual needed by vendor at 3/31/2022 (Assume there is currently no accrual for each vendor): *Please include all formulas/calculations used to get the accrual amount* Vendor Accrual Needed 464676 5487341 9881816 9881817 83484.1 Annually 200 Monthly 5679.85 Quarterly 50.25 Monthly 5678.87 Monthly 200 Monthly 751.51 Monthly 50.25 Monthly 785.48 Monthly 50.25 Monthly

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter3: Setting Up A New Company
Section: Chapter Questions
Problem 1.5C
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Instructions: 1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Sho 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Sho 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Sho Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense Accounts Payable 464675 ADD24AF381 9881815 Credit 464676 5487341 9881816 9881817 1. Accrual needed by vendor at 3/31/2022 (Assume there is currently no accrual for each vendor): *Please include all formulas/calculations used to get the accrual amount* Vendor Accrual Needed Hot Cakes LLC Else's Hammer Shop ABC Plumbing Bill Frequency 83484.1 Annually 200 Monthly 5679.85 Quarterly 50.25 Monthly 5678.87 Monthly 200 Monthly 751.51 Monthly 50.25 Monthly 785.48 Monthly 50.25 Monthly
Transcribed Image Text:Instructions: 1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Sho 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Sho 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Sho Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense Accounts Payable 464675 ADD24AF381 9881815 Credit 464676 5487341 9881816 9881817 1. Accrual needed by vendor at 3/31/2022 (Assume there is currently no accrual for each vendor): *Please include all formulas/calculations used to get the accrual amount* Vendor Accrual Needed Hot Cakes LLC Else's Hammer Shop ABC Plumbing Bill Frequency 83484.1 Annually 200 Monthly 5679.85 Quarterly 50.25 Monthly 5678.87 Monthly 200 Monthly 751.51 Monthly 50.25 Monthly 785.48 Monthly 50.25 Monthly
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