(4) Prepare adjusting journal entries in the general journal based on the following information (adjusting entries are dated June 30):

(a) The building has an estimated useful life of 25 years. Record depreciation for one month using straight line depreciation.

(b) The equipment has an estimated useful life of 7 years. Record depreciation for one month using straight line depreciation.

(c) Record insurance expired for one month.

(d) Supplies on hand at the end of June have a cost of $310.

(e) Accrue employee wages for 4 days from Monday June 27 through Thursday June 30 (payroll is $3,600 for the two week pay period totaling 10 days for a Monday-Friday workweek).

(f) Accrue interest for June on the $180,000 Mountain High Bank note payable. The annual interest rate is 4%.

(g) As of the end of June, $975 of the services have been performed for customers for which payment had been received in advance on June 17.

(h) In June, entered into a contact with Barr & Associates, CPAs to provide delivery services for the firms professionals. Nolans Delivery Services will bill Barr & Associates in the following month for services provided. Services totaling $700 were performed in June and will be billed in July 2011.

(i) Income taxes to accrue for June are estimated to be $1,033.

Date	Account Titles	Ref	Debit	Credit
6/1	Cash	111	100,000
	Common Stock	311		100,000
6/1	Building	141	250,000
	Notes Payable	211		180,000
	Cash	111		70,000
6/2	Equipment	143	10,920
	Accounts Payable	212		10,920
6/2	Prepaid Insurance	515	2,100
	Cash	111		2,100
6/3	Ad Expense	512	700
	Cash	111		700
6/5	Supplies	212	1,150
	Accounts Payable	113		1,150
6/13	Accounts Payable	113	5,000
	Cash	111		5,000
6/13	Wages Expense	511	2,880
	Wages Payable	213		2,880
6/13	Wages Payable	213	2,880
	Cash	111		2,880
6/14	Account Recievable	112	3,475
	Service Revenue	411		3,475
6/16	Cash	111	4,750
	Service Revenue	411		4,750
6/17	Cash	111	1,825
	Unearned Service Revenue	214		1,825
6/23	Utilities Expense	513	460
	Cash	111		460
6/24	Cash	111	1,700
	Accounts Recievable	112		1,700
6/27	Wages Payable	213	3,600
	Cash	111		3,600
6/30	Service Revenue	411	5,300
	Cash	111		5,300
6/30	Dividends	313	1,025
	Cash	111		1,025