The question in 6b photo. thanks! Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance atOctober 31, 2020, follows:RAINMAKER ENVIRONMENTAL CONSULTANTSUnadjusted Trial BalanceOctober 31, 2020Acct.No.AccountDebitCreditCashAccounts receivableInterest receivableNotes receivableSuppliesPrepaid insurancePrepaid rentOffice furniture26,00061,e0010110610950, e005,3003,40027,00084,000111126128131161162$ 28, e0eAccumulated depreciation, office furnitureAccounts payableWages payableUnearned consulting revenueJeff Moore, capitalJeff Moore, withdrawalsConsulting revenueInterest income20118, 00021023326, 000223, e0030130228,000232,020480401409Depreciation expense, office furnitureWages expenseInsurance expenseRent expenseSupplies expense601622192,00063744, e006,800640650Totals$ 527,500$ 527, 500Rainmaker prepares adjustments each October 31. The following additional information is available on October 31, 2020.o. It was determined that $12,000 of the unearned consulting revenue had not yet been earned.b. It was discovered that $14,000 of the balance in the Consulting Revenue account was for services to be performed in November.c. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 202o.d. Accrued wages at October 31 totalled $6.800.e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, it isexpected that the furniture will be worthless.f. Accrued consulting revenue at year-end totalled $4.200.g. Interest of $85 had accrued on the note receivable for the month of October.h. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019.I. A count of the supolies on October 31 revealed a balance remainina of $620. Requlred:1. Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trialbalance. (Enter the adjusting values In the order of Transaction I.e., a through I)101: Cash106: Accounts ReceivableDateDebitCreditBalanceDateDebitCreditBalanceOct. 31 (bal)Oct. 31 (bal)109: Interest Receivable111: Notes ReceivableDateDebitCreditBalanceDateDebitCreditBalanceOct. 31 (bal)Oct. 31 (bal)126: Supplies128: Prepaid InsuranceDateDebitCreditBalanceDateDebitCreditBalanceOct. 31 (bal)Oct. 31 (bal)131: Prepaid Rent161: Office FurnitureDateDebitCreditBalanceDateDebitCreditBalanceOct. 31 (bal)Oct. 31 (bal)162: Accumulated Depreciation, Office Furniture201: Accounts PayableDateDebitCreditBalanceDateDebitCreditBalanceOct. 31 (bal)Oct. 31 (bal)210: Wages Payable233: Unearned Consulting RevenueDateDebitCreditBalanceDateDebitCreditBalancelOct. 31 (bal)Oct. 31 (bal)

Ledger Account The Purpose of preparing the ledger account is to determine the ending balance of…

Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020 Account Debit $ 26,000 61,eee Acct.No. Credit 101 Cash Accounts receivable Interest receivable Notes receivable Supplies Prepaid insurance Prepaid rent Office furniture Accumulated depreciation, office furniture Accounts payable Wages payable Unearned consulting revenue 106 109 5e, e0e 5,300 3,400 27,e0e 84,eee 111 126 128 131 161 $ 28,000 18,00e 162 201 210 233 26,000

Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020 Account Debit $ 26,000 61,eee Acct.No. Credit 101 Cash Accounts receivable Interest receivable Notes receivable Supplies Prepaid insurance Prepaid rent Office furniture Accumulated depreciation, office furniture Accounts payable Wages payable Unearned consulting revenue 106 109 5e, e0e 5,300 3,400 27,e0e 84,eee 111 126 128 131 161 $ 28,000 18,00e 162 201 210 233 26,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 3MCQ

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