16 Required information The forowing information applies to the questions displayed below) Frandine's Fast Deliveries, Inc. FFD) was organized in December of 2011 Rhed mited actity in 2011. The resulting balance sheet at the beginning of 2012 provided below Francine's Fast Desverlies Balance Sheet at January 2012 Assets Uabes Cash $ 1175 Accounts Payable $ 865 Accounts Receivable 650 Stockholders Equity Supplies 500 Contributed Capital $1,000 Retained Earnings 460 Total Assets $2,325 Total Liabilities & Stk. Equity $2,325 January Transactions for Francine's Fast Deliveries, Inc. (FFDJ Date 1 Owners Invest $22,000 of additional cash in the business 2a Supplies are purchased for $750 on account. Insurance is paid for 12 months beginning January 1: $6,780 (Record as 2b an assen 20 Rent is paid for 3 months beginning in January: $3,150 (Record as an assen 2d Two employees are hired. Each employee will be paid $1,150 per month 3FFD borrows $25.000 from 15 State Bank at 6% annual interest. A delivery van is purchased for cash. Including tax the total cost was 6 $38,400. It will be used for 4 years and will be depreciated monthly using straight line with no salvage value. A full month of depreciation wil de charged in January 75455 of the receivables from December's sales are collected. 8 $692 of the accounts payable from December are paid 9 Performed services for customers on account. Mailed invoices totaling $9,000 10 Services are performed for cash customers 56 300 16 Wages for the first half of the month are paid on January 16 $1350. 20 The company receives $2,750 from a customer for an advance order for Services to be provided in January and February 25 Collections from customers on account see January 9 transaction: $3,600 The last 2 weeks wages eamed by employees are $575 per employee 30a and will be paid on February 3 300 A $725 utility bill for January arrived. It is due on February 15 Additional information for adjusting entries at January 31 Supplies on hand on January 3 total $325, the company completed 50% of the deveries for the customer who paldin advance on January 20 testis accrued for the bank loan (Assume a tumorin for me i stare Bank loan d. Record January depreciation just the prepaldaie Rent and insurance accounts as needed. 6. Prepare the adjusted trial balance, using the revised set of t-account balances. Answer is not completo Credit 6,2158 2,100 800 FAST DELIVERIES, INC. Aduted The Balance January 31 Account Title Debit Cash $ 11,108 Accounts Receivable 5,595 Supplies 375 Prepaid Rent Prepaid Insurance Equipment 38,400 Accumulated Depreciation Equipment Accounts Payable 923 Uneamed Revenue 875 Wages Payable 575 Interest Payable Notes Payable Contributed Capital 22.000 Retained Earnings Service Revenue 17.175 Wages Expenses Utilities Expense Supplies Expenses Depreciation Expense Insurance Expense Rent Expense Interest Expense Totals $ 97 026 125 460 575% 875 800X 125 725 12.800