Prepare the Required Entries for the Following Transactions

question 80

Essay

Prepare the required entries for the following transactions:
(a)Austin Company pays daily wages of $645 (Monday - Friday). Paydays are every other Friday. Prepare the Monday, January 31 adjusting entry, assuming that the previous payday was Friday, January 21.(b)Prepare the journal entry to record the Austin Company's payroll on Friday, February 4.(c)Annual depreciation expense on the company's fixed assets is $39,600. Prepare the adjusting entry to recognize depreciation for the month of January.(d)The company's office supplies account shows a debit balance of $3,755. A count of office supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January 31 adjusting entry for Office Supplies.

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Definitions:

Olfaction

The sense of smell, a chemical sense involved in detecting and identifying airborne substances.

Sniffing

The act of inhaling substances, often used in the context of substance abuse, but also a basic action for detecting smells.

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A domesticated carnivorous mammal known for its loyalty and companionship, scientifically classified as Canis lupus familiaris.

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Refers to a variety of strategies, techniques, and treatments employed to control and alleviate pain, ranging from meditation to medication.