Anderson Laboratory adjusts and closes its accounts at the end of each month. The trial balance at September 30, 2015, before adjustments, is as follows: Debit Credit Cash $18,200 Medical Fees Receivable 27,000 Prepaid Rent 5,000 Office Supplies 1,200 Medical Equipment 21,800 Accumulated Depreciation: Medical Equipment $ 6,000 Account Payable 3,000 Notes Payable 8,000 Unearned Medical Fees 14,000 Capital Stock 18,000 Retained Earnings 16,000 Dividends 1,000 Medical Fees Earned 31,000 Salaries Expense 14,000 Utilities Expense 2,000 Insurance Expense 5,800 $96,000 $ 96,000 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. (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, Anderson 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. Adjusting Entries: 2. The accounts and their amounts for Trevia Co at December 31, 2014 are listed below. Prepare closing entries and an After-Closing Trial Balance. Cash $6,800 Accounts Receivable 6,920 Supplies 380 Prepaid Insurance 800 Machinery 2,800 Accumulated Depreciation: Machinery $1,200 Salaries Payable 520 Capital Stock 8,200 Retained Earnings 2,460 Dividends 300 Revenue 12,780 Insurance Expense 180 Salary Expense 6,300 Miscellaneous Expense 260 Depreciation Expense 420 ______ Totals $25,160 $25,160 Closing Entries: Trevia Company After Closing Trial Balance December 31, 2014 2. Using the Adjusted Trial Balance shown below, prepare (a) an Income Statement and (b) a Statement of Retained Earnings for Coolidge Repairs Coolidge Repairs Adjusted Trial Balance July 31, 2014 Cash $19,100 Accounts Receivable 71,700 Supplies 1,400 Equipment 22,300 Accumulated Depreciation: Equipment $8,400 Accounts payable 17,000 Notes payable 4,500 Income taxes payable 23,800 Capital stock 25,300 Retained earnings 6,200 Dividends 12,400 Fees earned 112,000 Rent expense 8,000 Wages expense 33,200 Supplies expense 3,500 Utilities expense 1,900 Depreciation expense: equipment 920 Income Tax Expense 22,780 _______ Totals $197,200 $197,200 Coolidge Repairs Income Statement For the Month ended July 31, 2014 Coolidge Repairs Statement of Retained Earnings For the Month ended July 31, 2014 3. Prepare journal entries for the following, assuming the company uses a perpetual inventory method and records purchases at their net amounts. June 1 Purchased merchandise from Crane Company for $870 with the terms of 3/10, n/40. June 3 Returned $200 of the merchandise to the Crane Company. June 5 Purchased merchandise from the Tory Company for $600 with the terms of 2/10, n/30. June 6 Paid the amount owed to the Crane Company. June 8 Returned $100 of the merchandise to the Tory Company. June 12 Sold all of the merchandise on hand from the Crane Company for $1,600 and collected 6% sales tax in addition to the sales price. June 18 Paid the amount owed to the Tory Company in full.