AFN 132 Principles of Financial Accounting* HOME- WORK! 1) West Laboratory adjusts and closes its accounts at the end of each month. The trial balance at September 30, 2010, before adjustments is as follows: Cash Medical Fees Receivable Prepaid Rest Office Supplies Medical Equipment Accumulated Depreciation Medical Equipment Accounts Payable Notes Payable Unearned Medical Fees Capital Stock Retained Earnings Dividenda Medical Fees Earned Salaries Expense Unilaies Expense Insurance Expense Debt Credit $11,200 27,000 5,000 L200 21,800 $6000 1000 1000 14,000 1,000 14,000 1000 31,000 14,000 2,000 800 15.000 196.000 The following information relates to month end adjustments: (a) Office supplies on hand September 30 amounted to $500. (b) The useful life of the medical equipment was estimated to be 20 years with no residual value. (c) Many patients pay in advance for major medical procedures. Fees of $6,000 were earned during the month by performing procedures on patients who had paid in advance. (d) Salaries earned by employees during the month but not yet recorded amounted to $2,300. (e) On September 1 West Laboratory had moved and paid 2 month's rent in advance. (f) Medical procedures performed during the month but not yet billed or recorded amounted to $4,600. Prepare the adjusting entries required at September 30. Prepare Adjusted Trial Balance at Sept 30