Adjustments and Work Sheet Showing Net Income Complete the adjustments for the trial balance after one month of operation for Mason's Delivery Service as of September 30, 20--. Supplies inventory as of September 30, $90. Insurance expired (used), $650. Depreciation on delivery equipment, $600. Wages earned by employees but not paid as of September 30, $350. Required: 1.  Enter the adjustments in the Adjustments columns of the work sheet. 2.  Complete the work sheet. If an amount box does not require an entry, leave it blank. Mason's Delivery Service Work Sheet For Month Ended September 30, 20--   Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 1,600   fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Accounts Receivable 940   fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Supplies 635   fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 Prepaid Insurance 1,200   fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 28 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 Delivery Equipment 6,400   fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36 fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40 Accumulated Depreciation - Delivery Equipment     fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48 Accounts Payable   1,220 fill in the blank 49 fill in the blank 50 fill in the blank 51 fill in the blank 52 fill in the blank 53 fill in the blank 54 fill in the blank 55 fill in the blank 56 Wages Payable     fill in the blank 57 fill in the blank 58 fill in the blank 59 fill in the blank 60 fill in the blank 61 fill in the blank 62 fill in the blank 63 fill in the blank 64 Jill Mason, Capital   8,000 fill in the blank 65 fill in the blank 66 fill in the blank 67 fill in the blank 68 fill in the blank 69 fill in the blank 70 fill in the blank 71 fill in the blank 72 Jill Mason, Drawing 1,400   fill in the blank 73 fill in the blank 74 fill in the blank 75 fill in the blank 76 fill in the blank 77 fill in the blank 78 fill in the blank 79 fill in the blank 80 Delivery Fees   6,200 fill in the blank 81 fill in the blank 82 fill in the blank 83 fill in the blank 84 fill in the blank 85 fill in the blank 86 fill in the blank 87 fill in the blank 88 Wages Expense 1,500   fill in the blank 89 fill in the blank 90 fill in the blank 91 fill in the blank 92 fill in the blank 93 fill in the blank 94 fill in the blank 95 fill in the blank 96 Advertising Expense 460   fill in the blank 97 fill in the blank 98 fill in the blank 99 fill in the blank 100 fill in the blank 101 fill in the blank 102 fill in the blank 103 fill in the blank 104 Rent Expense 800   fill in the blank 105 fill in the blank 106 fill in the blank 107 fill in the blank 108 fill in the blank 109 fill in the blank 110 fill in the blank 111 fill in the blank 112 Supplies Expense     fill in the blank 113 fill in the blank 114 fill in the blank 115 fill in the blank 116 fill in the blank 117 fill in the blank 118 fill in the blank 119 fill in the blank 120 Phone Expense 165   fill in the blank 121 fill in the blank 122 fill in the blank 123 fill in the blank 124 fill in the blank 125 fill in the blank 126 fill in the blank 127 fill in the blank 128 Insurance Expense     fill in the blank 129 fill in the blank 130 fill in the blank 131 fill in the blank 132 fill in the blank 133 fill in the blank 134 fill in the blank 135 fill in the blank 136 Repair Expense 230   fill in the blank 137 fill in the blank 138 fill in the blank 139 fill in the blank 140 fill in the blank 141 fill in the blank 142 fill in the blank 143 fill in the blank 144 Oil and Gas Expense 90   fill in the blank 145 fill in the blank 146 fill in the blank 147 fill in the blank 148 fill in the blank 149 fill in the blank 150 fill in the blank 151 fill in the blank 152 Depreciation Expense - Delivery Equipment     fill in the blank 153 fill in the blank 154 fill in the blank 155 fill in the blank 156 fill in the blank 157 fill in the blank 158 fill in the blank 159 fill in the blank 160   15,420 15,420 fill in the blank 161 fill in the blank 162 fill in the blank 163 fill in the blank 164 fill in the blank 165 fill in the blank 166 fill in the blank 167 fill in the blank 168 Net Income             fill in the blank 169 fill in the blank 170 fill in the blank 171 fill in the blank 172               fill in the blank 173 fill in the blank 174 fill in the blank 175 fill in the blank 176

Subject: acounting

December 31, 20, according to the Trial Balance, the Office Supplies account has a balance of 2,100.00.Adjustment data reveals that 960.00 of office supplies are on hand at the end of the period.Journalize the adjusting entry.

Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. 1. Completed services that were paid for six months earlier, $970. The Service Revenue unadjusted balance as of December 31 is $9,100. The Unearned Revenue balance as of December 31 is $8,100. 2. Incurred interest expense of $2,900. 3. A two year insurance policy for $1,320 was purchased on November 1 of the current year. Record the transaction for the year ended December 31.

Office supplies are purchased in bulk and recorded as an asset. They are used by staff on a daily basis. An expense recognising the use of the office supplies will normally be recorded: when the supplies are purchased. when supplies are paid for. at the end of the accounting period when an end-of-period adjustment is prepared for supplies used. on a daily basis when supplies are taken from storage.

a On December 1, $11,650 was received for a service contract to be performed from December 1 through April 30. b Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31.     Required:   Record journal entries for the above transactions. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS   General Ledger   ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Office Building 17 Accumulated Depreciation-Office Building   LIABILITIES 21 Accounts Payable 22 Notes Payable 23 Unearned Fees 24 Wages Payable 25 Interest Payable   EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends   REVENUE 41 Fees Earned   EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation…

WORK SHEET AND ADJUSTING ENTRIES A partial work sheet for Jim Jacobs’Furniture Repair is shown as follows. Indicate by letters (a) through (d) the four adjustments in the Adjustments columns of the work sheet, properly matching each debit and credit. Complete the Adjustments columns.

On March 1, Gonzales Company purchased $2,280 of supplies on account. On March 1, Gonzales Company debited Supplies Expense, which is an alternate way of recording the initial expenditure. By the end of the calendar year, $350 of supplies was used. Required:Journalize the adjusting entry on December 31.

CLOSING ENTRIES AND POST-CLOSING TRIAL BALANCE Refer to thework sheet in Problem 6-7A for Megaffin's Repairs. The trial balanceamounts (before adjustments) have been entered in the ledger accountsprovided in the working papers. If you are not using the working papersthat accompany this book, set up ledger accounts and enter thesebalances as of January 31, 20--. A chart of accounts is provided attached.   REQUIRED 1. Journalize (page 10) and post the adjusting entries.2. Journalize (page 11) and post the closing entries.3. Prepare a post-closing trial balance.

On December 1, $18,000 was received for a service contract to be performed from December 1 through April 30.  Assuming the work is performed evenly throughout the contract period, calculate the amount of the adjusting entry for December 31.