1. What financial statements were affected by each entry? Match your answer to correspond to the number of the adjusting events above. Abbreviate the statement names.

2. Indicate whether the entry is an accrual adjusting or deferral adjusting entry.

You should complete the following in the table on Module Homework page 6-6: 1. What financial statements were affected by each entry? Number your answer to correspond to the number of the adjusting events above. 2. Indicate whether the entry is an accrual adjusting entry, or a deferral adjusting entry. Adjusting Entry Events: 1. Jim recalls finishing up a job search for Mack Brown. He forgot to bill Mack the $980. 2. Hoops had worked 8 ($10/hr) hours as of the end of June. He will not be paid until July 5. 3. An inspection of the insurance policy purchased from No State Insurance on June 12 indicates that it is a 12 month policy that included coverage for the entire month of June. Recall it was $2,400 for 12 months coverage. 4. Jim brought in the water bill for June, dated July 10 for $64. The bill is due upon 5. Jim counted the supplies remaining in the supply cabinet. The supply cabinet physical 6. The last payment on the note was on June 21, As of June 30, 9 days of interest at 10%, 7. The car is considered to have a useful life of 48 months with $3,920 salvage value. receipt. count reveals that there is only $80 of supplies remaining. has accrued but not yet been paid. (Round the result to the nearest dollar.) The computer and equipment is considered to have a 3 year life (36 months) with no salvage value. Round your calculation results to the nearest whole dollar. Assume Wooly had the asset for the entire month. You should complete the following in the table on Module Homework page 6-6: 1. What financial statements were affected by each entry? Number your answer to correspond to the number of the adjusting events above. 2. Indicate whether the entry is an accrual adjusting entry, or a deferral adjusting entry. Adjusting Entry Events: 1. Jim recalls finishing up a job search for Mack Brown. He forgot to bill Mack the $980. 2. Hoops had worked 8 ($10/hr) hours as of the end of June. He will not be paid until July 5. 3. An inspection of the insurance policy purchased from No State Insurance on June 12 indicates that it is a 12 month policy that included coverage for the entire month of June. Recall it was $2,400 for 12 months coverage. 4. Jim brought in the water bill for June, dated July 10 for $64. The bill is due upon 5. Jim counted the supplies remaining in the supply cabinet. The supply cabinet physical 6. The last payment on the note was on June 21, As of June 30, 9 days of interest at 10%, 7. The car is considered to have a useful life of 48 months with $3,920 salvage value. receipt. count reveals that there is only $80 of supplies remaining. has accrued but not yet been paid. (Round the result to the nearest dollar.) The computer and equipment is considered to have a 3 year life (36 months) with no salvage value. Round your calculation results to the nearest whole dollar. Assume Wooly had the asset for the entire month