Prepare journal entries and financial statement for year end

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Reference no: EM13752925

Prepare journal entries and financial statement for the year ended December 31, 2014. No adjusting entries have been made since December 31, 2013.

1. Company A rented idle office space to Company B on February 1, 2014, at a rate of $1300 per month. on this date Company A credited unearned rent revenue for one year of rent recieved in advance.

2. Company A is open five days a week and has a daily payroll of $2200. Employees are paid every Friday. December 31 is a Wednesday. The payroll is allocated as follows: 12% of the payroll relates to office employees, and the balances relates to sales employees.

Reference no: EM13752925

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