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Alpha Dog formed a corporation on January 2. 2016 to provide construction services in the town of Elven, Rivendell, ME The following is the December
Alpha Dog formed a corporation on January 2. 2016 to provide construction services in the town of Elven, Rivendell, ME The following is the December 31th Unadjusted Trial Balance Alpha Dog Corporation Unadjusted Trial Balance 12/31/16 Cash 532.000 Accounts Receivable 172.000 85.000 Prepaid Insurance 36,000 Accounts Payable Unearned Revenue Note Payable (Long Capital Stock $32.000 100.000 1.420.000 1075.000 1:397 000 497,000 Wages Expense Fuel Experise Rent Expense Interest Expense 62.000 180.000 60000 224 00 | 024000 The following information is provided regarding end of the FPY required adjusting entries 1. Equipnent was purchased on June 1, it has an estimated life or 5 years with an estimated salvage value of $400,000. Alpha Dog used the double declining balance method for depreciation 2 Supplies on had at year end are $30.000 3 On 1/1/2017 interest of $58,000 and a principle payment of $20,000 must be made to the bank 4. The insurance policy is for 12 months and was purchased on March 1. services that have been provided customers at year will be process the frst week of January Use this information to compute the adjustments and then prepare the end of the fiscal year general journal d sing entries twithout e plaationl terstudents are to only present the dosing entries. This will require that the student work on the side to determine the adjustments that were made to the unadjusted trial balance before they will be able to prepare the dlosing entries Do not present any calculations or other infornation in the answer sheet expect for the required closing entries Alpha Dog formed a corporation on January 2. 2016 to provide construction services in the town of Elven, Rivendell, ME The following is the December 31th Unadjusted Trial Balance Alpha Dog Corporation Unadjusted Trial Balance 12/31/16 Cash 532.000 Accounts Receivable 172.000 85.000 Prepaid Insurance 36,000 Accounts Payable Unearned Revenue Note Payable (Long Capital Stock $32.000 100.000 1.420.000 1075.000 1:397 000 497,000 Wages Expense Fuel Experise Rent Expense Interest Expense 62.000 180.000 60000 224 00 | 024000 The following information is provided regarding end of the FPY required adjusting entries 1. Equipnent was purchased on June 1, it has an estimated life or 5 years with an estimated salvage value of $400,000. Alpha Dog used the double declining balance method for depreciation 2 Supplies on had at year end are $30.000 3 On 1/1/2017 interest of $58,000 and a principle payment of $20,000 must be made to the bank 4. The insurance policy is for 12 months and was purchased on March 1. services that have been provided customers at year will be process the frst week of January Use this information to compute the adjustments and then prepare the end of the fiscal year general journal d sing entries twithout e plaationl terstudents are to only present the dosing entries. This will require that the student work on the side to determine the adjustments that were made to the unadjusted trial balance before they will be able to prepare the dlosing entries Do not present any calculations or other infornation in the answer sheet expect for the required closing entries
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