3. Interest of 200 has accumula 4. Rent collected in advance totaling 560 has been recognized. BE3-3 Wow Advertising Company's trial balance at December 31 shows Supplies 6,700 Prepa and Supplies Expense 0. On December 31, there are 1,300 of supplies on hand. Prepare suppli the adjusting entry at December 31 and, using T-accounts, enter the balances in the (LO 5 accounts, post the adjusting entry, and indicate the adjusted balance in each account. BE3-4 At the end of its first year, the trial balance of Zovde Company OAO shows Equip- Prepar ment 32,000 and zero balances in Accumulated Depreciation Equipment and Deprecia- deprece tion Expense. Depreciation for the year is estimated to be 6,000. Prepare the adjusting (LO 5) entry for depreciation at December 31, post the adjustments to T-accounts, and indicate the statement of financial position presentation of the equipment at December 31. BE3-3 Wow Advertising Company's trial balance at December 31 shows Supplies 6,700. Prepare adjusting entry for and Supplies Expense 0. On December 31, there are 1,300 of supplies on hand. Prepare supplies. the adjusting entry at December 31 and, using T-accounts, enter the balances in the (LO 5) accounts, post the adjusting entry, and indicate the adjusted balance in each account. BE3-4 At the end of its first year, the trial balance of Zovde Company OAO shows Equip- Prepare adjusting entry for ment 32,000 and zero balances in Accumulated Depreciation-Equipment and Deprecia- depreciation. tion Expense. Depreciation for the year is estimated to be 6,000. Prepare the adjusting (LO 5) entry for depreciation at December 31, post the adjustments to T-accounts, and indicate the statement of financial position presentation of the equipment at December 31. Prepare adjusting entry for BE3-5 On July 1, 2017, Pizner Co. Ltd. pays 13,200 to Orlow Insurance Ltd. for a 3-year prepaid expense. insurance contract. Both companies have fiscal years ending December 31. For Pizner Co. (LO 5) Ltd., journalize and post the entry on July 1 and the adjusting entry on December 31. Prepare adjusting entry for BE3-6 Using the data in BE3-5, journalize and post the entry on July 1 and the adjusting uneamed revenue. entry on December 31 for Orlow Insurance Ltd. Orlow uses the accounts Unearned Ser (LO 5) vice Revenue and Service Revenue. Prepare adjusting entries for BE3-7 The bookkeeper for Malboeuf Company SA asks you to prepare the following accruals. accrued adjusting entries at December 31. (LO 6) 1. Interest on notes payable of 320 is accrued. 2. Services performed but not recorded total 1,750. 3. Salaries earned by employees of 900 have not been recorded. Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. Analyse accounts in an BE3-8 The trial balance of Tiwari Ltd. includes the following statement of financial posi- unadjusted trial balance. tion accounts, which may require adjustment. For each account that requires adjustment, (LO 4,5,6) indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (b) the related account in the adjusting entry. Accounts Receivable Interest Payable Prepaid Insurance Unearned Service Revenue Accumulated Depreciation--Equipment Prepare an income statement BE3-9 The adjusted trial balance of Kwun Company at December 31, 2017, includes the from an adjusted trial following accounts (in thousands): Share Capital-Ordinary #15,600. Dividends W6,000, balance. Service Revenue 438,400, Salaries and Wages Expense W16,000, Insurance Expense (LO 7) W2,000, Rent Expense W4,400, Supplies Expense W1,500, and Depreciation Expense W1,300. Prepare an income statement for the year. Prepare a retained earnings BE3-10 Partial adjusted trial balance data for Kwun Company is presented in BE3-9. Pre- statement from an adjusted pare a retained earnings statement for the year assuming net income is W13,200 for the trial balance. year and Retained Earnings is W7,240 on January 1. (Amounts are in thousands.) (LO 7) *BE3-11 Lim Company records all prepayments in income statement accounts. At April Prepare adjusting entries 30, the trial balance shows Supplies Expense HK$28,000, Service Revenue HK$92,000, under alternative treatment and zero balances in related statement of financial position accounts. Prepare the adjust- of deferrals. ing entries at April 30 assuming (a) HK$11,000 of supplies on hand and (b) HK$20,000 of (LO 8) service revenue should be reported as unearned