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Answer question and show work $89.800 95,200 45.300 80.500 149.000 Ac e rco buding spate expense were expense Income tax expense Dividends declared Additional information

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$89.800 95,200 45.300 80.500 149.000 Ac e rco buding spate expense were expense Income tax expense Dividends declared Additional information for adjusting entries: 1. The deposits from customers were for future deliveries. As at December 31, three-quarters of these goods had been delivered. 1.There is $2,000 in wages owed at year end. Rent is paid in advance on the last day of each month. There was a balance of $3,000 in the Prepaid Rent account on January 1, 2020. At the end of January, $3,000 was paid for the February rent and was debited to the Prepaid Rent account. All the rent payments during the year were treated the same way. The rent for July to December increased to $3,900 per month. (Hint: Determine the amount of rent expense for 2020, as well as the correct amount that has been prepaid for 2021, and make an adjustment that will bring both these accounts to the correct balances.) A count of the supplies at year end revealed that $500 of supplies were still on hand. The building is being depreciated over 20 years with a residual value of $20,100. The bank loan was taken out on April 1, 2020. The first interest payment is due on April 1, 2021. The interest rate is 9%. Income tax for the year should be calculated using a tax rate of 30%. (Hint: After you finish the other adjusting entries, you will have to determine the income before income tax and then calculate the tax as 30% of this amount.) Prepare the adjusting entries for the year 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit 1

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