a. Wages of $11,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $10,480. c. The Office Supplies account had a $470 debit balance at the beginning of December. During December, $4,578 of office supplies are purchased. A physical count of supplies at December 31 shows $508 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of December. An analysis of insurance policies shows that $2,900 of unexpired insurance benefits remain at December 31. e. The company has earned (but not recorded) $950 of interest revenue for the year ended December 31. The interest payment will be received on 10 days after the year-end January 10. f. The company has a bank loan and has incurred (but not recorded) interest expense of $4,500 for the year ended December 31. The company will pay the interest five days after the year-end on January 5. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31.

The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGBY MANUFACTURING Balance Sheet March 31 Assets     Liabilities and Equity     Cash   $ 104,000 Liabilities     Accounts receivable   895,440 Accounts payable $ 522,600   Raw materials inventory   256,100 Loan payable 12,000   Finished goods inventory   846,404 Long-term note payable 1,300,000 $ 1,834,600 Equipment $ 1,560,000   Equity     Less: Accumulated depreciation 390,000 1,170,000 Common stock 871,000         Retained earnings 566,344 1,437,344 Total assets   $ 3,271,944 Total liabilities and equity   $ 3,271,944 To prepare a master budget for April, May, and June, management gathers the following information. Sales for March total 53,300 units. Budgeted sales in units follow: April, 53,300; May, 50,700; June, 52,000; and July, 53,300. The product’s selling price is $24.00 per unit and its total product cost is $19.85 per unit. Raw materials inventory consists…

A company began operations in March with cash and common stock of $36,000. The company made $582,000 in net income in its first month. It performed print jobs for customers and billed these customers $900,000. The company collected half of its receivables by the end of the month. The company had a cost of goods sold of $162,000 paid for in cash and $6,000 inventory left over at the end of the month. The company's employees earned wages but those are not paid until the first of April. This was the company’s only liability. How would I calculate the income statement and balance sheet for the end of March?

Morrison Company Balance Sheet January 1 Assets Cash $ 40,950 Raw materials Work in process Finished goods Prepaid expenses Property, plant, and equipment (net) $ 17,800 6,600 31,800 56, 200 3,350 124,000 $ 224,500 Total assets Liabilities and Stockholders' Equity Accounts payable Retained earnings $ 7,100 217,400 Total liabilities and stockholders' equity $ 224,500 During January the company completed the following transactions: a. Purchased raw materials on account, $75,200. b. Raw materials used in production, $91,500 ($80,200 was direct materials and $11,300 was indirect materials). c. Paid $202.100 of salaries and wages in cash ($108,800 was direct labor, $41,700 was indirect labor, and $51,600 was related to employees responsible for selling and administration). d. Various manufacturing overhead costs incurred (on account) to support production, $43,350. e. Depreciation recorded on property, plant, and equipment, $63,600 (70% related to manufacturing equipment and 30% related to…