ACC 111 Project 1B The adjustment data as of September 30, 2016, the end of the fiscal year, for Diaz Company were as follows: a. b. C. d. e. Merchandise Inventory taken on September 30 was $65,200. The depreciation on the Delivery Truck for the month amounted to $710. The depreciation on the Forklift for the month amounted to $830. A physical count shows that Office Supplies used totaled $1,200. Insurance on hand at the end of September was $1,600. Accrued salaries on September 30 amounted to $1,940. Unearned Sales Revenue earned at the end of September was $12,800. Accrued interest on notes receivable, $300. Accrued interest on notes payable, $150. Unexpired office rent amounted to $6,200. f. g. h. i. j. Prepare the Adjusting Journal Entries in the General Journal. (Credit account titles are automatically indente titles and enter o for the amounts. Do not use dollar signs ($) when entering amounts. To see comma- Date Account Titles Debit Credit a. Sept. 30 No Entry No Entry b. 30 Depreciation Expense, Delivery Truck Accumulated Depreciation, Delivery Truck c. 30 Depreciation Expense, Forklift Accumulated Depreciation, Forklift d. 30 Office Supplies Expense Office Supplies e. 30 Insurance Expense Prepaid Insurance f. 30 Salaries Expense Salaries Payable g. 30 Unearned Sales Revenue Sales Revenue h. 30 Interest Receivable Interest Revenue i. 30 Interest Expense Interest Payable j. 30 Office Rent Expense Prepaid Office Rent Complete all columns of the worksheet using the above adjusting entries. This includes adding additional accounts after 'Totals" and calculating the Net Income or Net Loss. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Diaz Company Work Sheet Unadjusted Trial Balance Debit Credit For the Year Ended September 30, 2016 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit ACCOUNT NAME Cash $8,700 $ Notes Receivable 160,000 Accounts Receivable 16,200 V Interest Receivable 2,900 Merchandise Inventory, 9/30/15 55,200 Prepaid Insurance 3,800 Prepaid Office Rent 15,200 Office Supplies 2,900 Land 90,000 Forklift 30,000 Accumulated Depreciation, Forklift $2,700 Delivery Truck 42,000 Accumulated Depreciation, Delivery Truck 4,800 Accounts Payable 10,400 V Salaries Payable 1,200 Uncarned Sales Revenue 23,000 Notes Payable (Due 2040) 133,500 C. Dlaz, Capital 164,400 C. Dlaz, Drawings 9,800 Sales Revenue 178,050 Sales Returns & Allowances 2,100 Sales Discounts 1,550 Purchases 49,500 Purchases Returns & Allowances 4,300 Purchases Discounts 1,700 v Freight-in 5,800 Salaries Expense 19,000 v Office Rent Expense 6,900 Utilities Expense 5,300 Interest Expense 3,900 V Interest Revenue 7,000 TOTALS $531,050 $531,050 Click if you would like to Show Work for this question: Open Show Work
