A. Classify each of these items as an asset (A), liability (L), or stockholders' equity (SE). (8 POINTS) Accounts receivable 2. Accounts payable 3. Common stock 4. Supplies 5. Utlities expense 6. Cash 7. Notes payable 8. Equipment B. For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance. Increase(+), Decrease (). For the Normal balance indicate DR or CR. (5 POINTS) DebitCredit Salaries and wages expense 2. Accounts receivable. 3. Service revenue. 4. Common stock 5. Dividends. C. Determine the missing items. (3 POINTS) Assets Liabilities + Stockholders' Equity $85,000 S52,000 (a) (b) $28,000 S34,000 (c) S50,000 $84,000 D. Presented below is the Trial Balance and Adjusted Trial Balance for Morning Jacket Company on December 31. (7 POINTS) MORNING JACKET Trial Balance December 31 11:48 LTE D. Presented below is the Trial Balance and Adjusted Trial Balance for Morning Jacket Company on December 31. (7 POINTS) MORNING JACKET Trial Balance December 31 Before Adjustment After Adjustment Cash Accounts Receivable 2,800 Prepaid Rent 2,100 Supplies ,200 Equipment 18,000 S 2,000 18,000 1.550 Accounts Payable Notes Payable Interest Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Dividends 3,200 Service Revenue Salaries and Wages Expense Rent Expense 500 Supplies Expense 2,700 10,000 1.270 3,960 7,200 7.200 9,500 3,860 1,200 550 5,130 Equipment Interest Expense Totals S33.660 33660 36.320 36 adjusting entries that explain the changes in the balances from the trial balance to the adjusted trial balance. USE THE JOURNAL TEMPLATE LOCATED IN E. The balance in the supplies account on June 1 was e were S3.500 11:49 1 LTE E. inC Daiance in tnc suppiics account on Junc I was S5,200, supplies purchased during June were S3,500, and the supplies on hand at June 30 were $3,000. The amount to be used for the appropriate adjusting entry is (Journal entry form): (1 POINT F. Lake of Fire Company purchased supplies costing S7,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed S1,900 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be (Journal entry form): (1 POINT) G. Fugazi City College sold season tickets for the 2015 football season for $240,000. A total of 8 games will be played during September, October and November. In September, two games were played. In October, three games were played. The balance in Unearned Ticket Revenue at October 31 is: (1 POINT I. NWA Air Charter signed a four-month note payable in the amount of $20,000 on September 1. The note requires interest at an annual rate of 9%. The amount of interest to be accrued at the end of September is: (1 POINT) J. Match the basic step in the recording process described by each of the following statements. (3 POINTS) A. Analyze each transactionB. Enter each transaction in a journalC Transfer journal information to ledger accounts This step is called posting. 2. Business documents are examined to determine the effects of transactions on the accounts