Assets

111 Cash Debit

117 Repair Supplies Debit

119 Prepaid Insurance Debit

144 Repair Equipment Debit

145 Accum Dep -Repair Equipment Credit

Liabilities

212 Accounts Payable Credit

213 Income Tax Payable Credit

Stockholders Equity

311 Common Stock Credit

312 Retained Earnings Credit

313 Dividends Debit

Revenue

411 Pool Service Revenue Credit

Expenses

511 Store Rent Expense Debit

512 Telephone Expense Debit

513 Insurance Expense Debit

514 Repair Supplies Expense Debit

515 Dep Expense - Repair Equipment Debit

516 Income Tax Expense Debit

517 Electric Expense Debit

Q. Make an adjusting entries using the following information in the General Journal below. Show your calculations!

a) One month's insurance has expired.

b) The remaining inventory of repair supplies is $250.

c) The estimated depreciation on repair equipment is $160.

d) The estimated income taxes are $95.

Post the adjusting entries on July 31 below to the General Ledger T-accounts (Step 2) and compute adjusted balances. Just add to the balances that are already listed.

Date Account # from chart Account Tittle from Debit Credit

of Account tab chart of Account tab