1 Tom know that accounting was based on accruals and some adjustments were needed at the end of September 2 The following information is provided to prepare the adjusting entries at the end of September 2015 3 30-Sep 5 1 Recognize the rent expense for the month of September 6 2 Cleaning equipment is depreciated for 5 years. The salvage value is zero. The company uses straight line depreciation method. 7 3. The truck is depreciated for 5 years. The salvage value is $3.000. The company uses straight line depreciation. 4. Recognize the insurance expense for the month of September 9 5 Recognize the revenue from 1 month service that has been provided to a client from September 2 transaction. 6 At the end of September, the company has $6,500 supplies available. 7 The company pays $2,000 salary every Friday, September 30 is Monday 12 8 The company has provided a $5,000 service to a client that has not been billed. 33 54 Required: 5 1 Prepare the adjusting entries. 5 2 Post the adjustments to the General Ledger 3. Calculate the adjusted balances for the affected accounts 4 Prepare the Adjusted Trial Balance for Wayzata Cleaning. Inc. at September 31, 2015. 5 Prepare the Financial Statements for Wayzata Cleaning, Inc. ending and on September 31, 2015. 4 5 G 6 H 30-Sep 1 Recognize the rent expense for the month of September 2 Cleaning equipment is depreciated for 5 years. The salvage value is zero. The company uses straight line depreciation method. 7 3 The truck is depreciated for 5 years. The salvage value is $3,000. The company uses straight line depreciation. 8 4 Recognize the insurance expense for the month of September, 9 5 Recognize the revenue from 1 month service that has been provided to a client from September 2 transaction. 10 6 At the end of September, the company has $6,500 supplies available. 11 7 The company pays $2.000 salary every Friday, September 30 is Monday 12 8 The company has provided a $5,000 service to a client that has not been billed. 13 14 Required: 15 1 Prepare the adjusting entries. 16 2 Post the adjustments to the General Ledger 17 3 Calculate the adjusted balances for the affected accounts 18 4 Prepare the Adjusted Trial Balance for Wayzata Cleaning, Inc. at September 31, 2015 19 S Prepare the Financial Statements for Wayzata Cleaning, Inc. endine and on September 31, 2015. 20 21 22 D F G H Wayzata Cleaning, Inc. Trial Balance September 30, 2015 Credit 3 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Debit 54,750.00 1,500.00 7,000.00 9,000.00 1,200.00 12,000.00 18,000.00 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Cleaning Equipment Truck Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Utility Expense Advertising Expense Miscellaneous Expense Salary Expense Total Journal Entries Trial Balance 16,600.00 8,000.00 78,000.00 1,000.00 11,000.00 600.00 500.00 50.00 8,000.00 113 600.00 113 600.00 Credit Debit 54,750.00 1,500.00 7,000.00 9,000.00 1,200.00 12,000.00 18,000.00 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Cleaning Equipment Truck Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Utility Expense Advertising Expense Miscellaneous Expense Salary Expense Total 16,600.00 8,000.00 78.000.00 1,000.00 11,000.00 600.00 500.00 50.00 8,000.00 113,600.00 3 1 113,600.00 6 7
