Use the following information from the Adjustments columns of a 10-column work sheet. Adjustments No....

Use the following information from the Adjustments columns of a 10-column work sheet.

		Adjustments
No.	Account Title	Dr.				Cr.
109	Interest receivable		(d)	$	571
124	Office supplies						(b)	$	1,628
128	Prepaid insurance						(a)		878
164	Accumulated depreciation—Office equipment						(c)		3,300
209	Salaries payable						(e)		651
409	Interest revenue						(d)		571
612	Depreciation expense—Office equipment		(c)		3,300
620	Office salaries expense		(e)		651
636	Insurance expense—Office equipment		(a)		421
637	Insurance expense—Store equipment		(a)		457
650	Office supplies expense		(b)		1,628
	Totals			$	7,028			$	7,028

Prepare the necessary adjusting journal entries (a) through (e).

Expert Solution

ekkarill92 answered 2 years ago

1. The fourth pair of columns on a 10-column work sheet prepared at the end of the period would be the

1. The fourth pair of columns on a 10-column work sheet prepared at the end of the period would be theIncome Statement columns.Adjusted Trial Balance columns.Balance Sheet columns.Adjustments columns.2. The third pair of columns on a 10-column work sheet prepared at the end of the period would be theAdjustments columns.Adjusted Trial Balance columns.Income Statement columns.Balance Sheet columns.3. The owner's equity in a business amounted to $52,000 at the beginning of the year and $100,000 at the end of the year....

Work Sheet Extensions for Merchandise Inventory Adjustments: Periodic Inventory System 1. Complete the Adjustments columns for...

Work Sheet Extensions for Merchandise Inventory Adjustments: Periodic Inventory System 1. Complete the Adjustments columns for the merchandise inventory. 2. Extend the merchandise inventory to the Adjusted Trial Balance and Balance Sheet columns. 3. Extend the remaining accounts to the Adjusted Trial Balance and Income Statement columns. 4. Prepare a cost of goods sold section from the partial work sheet. The following partial work sheet is taken from Kevin's Gift Shop for the year ended December 31, 20--. The ending...

Completion of a Work Sheet Showing a Net Loss 1. Complete the Adjustments columns. 2. Complete...

Completion of a Work Sheet Showing a Net Loss 1. Complete the Adjustments columns. 2. Complete the work sheet. 3. Enter the adjustments in a general journal. If an amount box does not require an entry, leave it blank. The trial balance for Cascade Bicycle Shop, a business owned by David Lamond, is shown below. Cascade Bicycle Shop Trial Balance December 31, 20 -- ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCE Cash 23,385 Accounts Receivable 14,985 Merchandise Inventory 31,390 Supplies 7,375...

Complete the Adjustments column of the work sheet represented below. Ending merchandise inventory is $92,000.

Complete the Adjustments column of the work sheet represented below. Ending merchandise inventory is $92,000. If an amount box does not require an entry, leave it blank.

1. Complete the Adjustments section of the work sheet using the following information: On October 30,...

1. Complete the Adjustments section of the work sheet using the following information: On October 30, an inventory of the supplies showed that items costing $1,730 were used this month. Record an adjustment for the supplies used in October. On October 1, 20xx the company purchased a twelve-month insurance policy for $8,400. Record an adjustment for the expired insurance during the month of October. On October 3, the company purchased a six-month advertising contract for $4,800. Record an adjustment for...

Requirements: a. Copy the trial balance above in the first two columns of a 10-column work...

Requirements: a. Copy the trial balance above in the first two columns of a 10-column work sheet. b. Prepare adjusting journal entries in journal form from the following information (the fiscal year ends December 31). 1. Estimated bad debts, .5% of sales less returns and allowances. 2. Depreciation on building 4% per year; on furniture and fixtures, 10% per year. 3. Insurance expired during the year, $3,900. 4. Interest at 12% is payable on the mortgage on January 1 of...

The Income Statement and Balance Sheet columns below are from the work sheet of the Mandle...

The Income Statement and Balance Sheet columns below are from the work sheet of the Mandle Company for the year ended December 31, 20--. Mandle Company Work Sheet (partial) For the year ended December 31, 20-- Income Statement Balance Sheet Account Title Debit Credit Debit Credit Cash 24,000 Accounts Receivable 12,500 Merchandise Inventory 8,000 Store Supplies 550 Office Supplies 1,200 Prepaid Insurance 750 Store Equipment 33,000 Accumulated Depreciation—Store Equipment 19,000 Office Equipment 9,000 Accumulated Depreciation—Office Equipment 5,000 Accounts Payable 9,900...

1. In the completed work sheet, which of the following sets of columns would contain the...

1. In the completed work sheet, which of the following sets of columns would contain the two balances in the Income Summary account representing beginning and ending inventory when using the periodic inventory system? a. Adjustments and Balance Sheet columns b. Trial Balance and Adjustments columns c. Trial Balance and Income Statement columns d. Adjustments and Income Statement columns e. Trial Balance and Balance Sheet columns 2. If the trial balance amount of Unearned Pest Spray Revenue is $50,000, and...

Exercise 4-3 Preparing adjusting entries from a work sheet LO P1 Use the following information from...

Exercise 4-3 Preparing adjusting entries from a work sheet LO P1 Use the following information from the Adjustments columns of a 10-column work sheet. Adjustments No. Account Title Dr. Cr. 109 Interest receivable (d) $ 771 124 Office supplies (b) $ 1,936 128 Prepaid insurance (a) 1,186 164 Accumulated depreciation—Office equipment (c) 3,300 209 Salaries payable (e) 851 409 Interest revenue (d) 771 612 Depreciation expense—Office equipment (c) 3,300 620 Office salaries expense (e) 851 636 Insurance expense—Office equipment...

2. Make a data frame consisting of 20 and 10 columns. Each column j should consist...

2. Make a data frame consisting of 20 and 10 columns. Each column j should consist of 20 values from a normal distribution with mean (i-1) and standard deviation 0.5j. For example, the third column should be normal(mean=2, sd=1.5). Using this data frame, do each of the following (using code, of course): a. Find the mean and standard deviation for each column. b. Write code that counts the number of columns for which the sample mean and sample standard deviation...

Question