1 Exercise 3-7 Analyzing and preparing adjusting entries LO P5 5 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Income Statements For Year Ended December 31 eBook Unadjusted Adjusted $ 24,000 42,500 $ 66,500 $31,200 42,500 73,700 Hint @ Print Revenues Fees earned Commissions earned Total revenues Expenses Depreciation expense-Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense office supplies expense Advertising expense Utilities expense Total expenses Net income 12,500 4,500 1,800 2,100 15,446 1,560 4,500 576 3,000 1,334 30,310 $43,390 References 3,000 1,250 21,250 $45,250 Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that have been earned but not yet billed. None of the entries involve cash View transaction list Journal entry worksheet Record the adjusting entry for accrued revenues. Mc Graw Hill Prey 1 of 1 Next ype here to search O a 10 points Kuvertising expense Utilities expense Total expenses Net income 3,008 1,250 21,250 $45,250 3,000 1,334 30,310 $43,390 2 eBook Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that h been earned but not yet billed. None of the entries involve cash Hint View transaction list Print Journal entry worksheet o References Record depreciation on computers. Note: Enter debits before credits. Event General Journal Debit Credit b Record entry Clear entry View general journal MC Graw Hill Prey 1 of 1 Next Type here to search o ir E Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fee been earned but not yet billed. None of the entries involve cash View transaction list Journal entry worksheet 1 2 4 5 6 7 Record depreciation on office furniture. Note: Enter debits before credits. Event General Journal Debit Credit C Record entry Clear entry View general journal - Prey 1 of 1 Next here to search O gi D a TO lo Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that ha been earned but not yet billed. None of the entries involve cash. View transaction list Journal entry worksheet 1 2 3 5 6 7 > Record the adjusting entry related to salaries. Note: Enter debits before credits. Event General Journal Debit d Credit Record entry Clear entry View general journal Prey 1 of 1 ! o search Next O Bi . SE 21,250 30,310 Net income $45, 250 $43,390 S Book Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees tha been earned but not yet billed. None of the entries involve cash Hint View transaction list Print Journal entry worksheet Record the adjusting entry related to insurance, Note: Enter debits before credits Event General Journal Debit Credit e Record entry Clear entry View general Journal aw 11 e here to search Prey 1 of 1 Next O 3 1 - a o Utilities expense Total expenses Net income 1,250 21,250 $45,250 1,334 30, 310 $43,390 Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that have been earned but not yet billed. None of the entries involve cash. View transaction list Journal entry worksheet 2 3 4 5 7 > Record the adjusting entry related to office supplies. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general Journal Prey 1 of 1 Next search O i E - AT office supplies expense Advertising expense Utilities expense Total expenses Net income 3,000 1,250 21,250 $45,250 576 3,000 1,334 30,310 $43,390 Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that have been earned but not yet billed. None of the entries involve cash. k View transaction list Journal entry worksheet ut