00 Wre due from tenants at August 31. (Use Accounts Receivable.) 7. The mortgage interest rate is 9% per year. (The mortgage was taken out on August l.) Instructions (a) Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31. (0g (b) Prepare a ledger using the three-column form of account. Enter the trial balanice(et income 12 (c) Adj. trial balans amounts and post the adjusting entries. (Use J1 as the posting reference.) 280,325 (c) Prepare an adjusted trial balance on August 31 (d) Prepare an income statement and a retained earnings statement for the 3 months Ending retained earnings 12,47 Total assets 20 ing August 31 and a statement of financial position as of August 31. P3-3A Costello Advertising SpA was founded by Pat Costello in January 2016. Presented Prepare adjusting emtr below are both the adjusted and unadjusted trial balances as of December 31, 2017. fenancial statemsents. (LO 5, 6, 7) COSTELLO ADVERTISING SpA Trial Balance December 31, 2017 Unadjusted Cr. Dr. Cr. Dr. Cash Accounts Receivable 11,000 18,000 8,600 11,000 23,500 5,000 2.500 60,000 Prepaid Insurance 60,000 33,000 5,000 Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Share Capital Ordinary Retained Earnings Dividends Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense 26,000 5,000 5,000 5,600 1,300 20,000 5,500 ,000 7,200 0 20,000 12,000 65,700 10,000 11,300 500 7,000 3,600 4,000 4,000 Rent Expense 127,300 127.300 141.250 141.250 Instructions (a) Journalize the annual adjusting entries that were made. (b) Net income 38.45 an income statement and a retained earnings statement for the year ending Ending retained December 31, 2017, and a statement of financial position at December 31. (c) Answer the following questions. earnings 31,950 (1) If the note has been outstanding 6 months, what is the annual interest rate on th (2) If the company paid 14,500 in salaries in 2017, what was the balance in Salaries Total assets 69,00 (c) (1) 696 (2) 4,500 and Wages Payable on December 31, 2016? Ltd. at December 31, 2017, pro Preparing adjusting entries da sh A review of the ledger of Bellingham Company e following data pertaining to the preparation of annual adjusting entries Salaries and Wages Pavable 0. There are eight salaried employees. Salaries are (LO 5, 6) 1 . Salaries and wages paid r the current week. Five employees receive a salary of 6800 each week, and three e Employees do poyes earn 500 each per week. Assume December 31 is a Tsa worked the last 2 days of December ense 1324,000. The company began su biease in its 2. Rent revenue E74.0 2. Unearned Ren wrk weekends. All employees new building on November L. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease