Bills Boards (BB) is an outdoor advertising company founded by William Longfall. William knows very little accounting so he hired a friend to keep the books. Unfortunately, William did not review his friend's work and now it seems his friend has made a mess of the accounting records. William has provided you the following list of unadjusted account balances at BBs September 30 fiscal year-end. You have reviewed the balances with William and made notes shown in the right column.

General Journal tab - Prepare the journal entries needed on September 30 to (a) fix the premature recording of advertising revenue, (b) update the rent accounts, (c) account for the use of equipment, (d) update deferred revenue, (e) accrue revenue not yet billed, (f) accrue unpaid wages, (g) correct the supplies accounts, and (h) accrue income taxes for the year.
General Ledger tab - Each journal entry is posted automatically to the general ledger.
Trial Balance tab - The ending balance values from the General Ledger tab flows through to the Adjusted Trial Balance tab.
Income Statement tab - Use the drop-down to select the accounts properly included on the income statement. The unadjusted and adjusted balances will appear for each account based on your selection.
Statement of Retained Earnings tab - Use the drop-down to select the accounts properly included on the statement of retained earnings.
Balance Sheet tab - Use the drop-down to select the accounts properly included on the balance sheet. The unadjusted and adjusted balances will appear for each account, based on your selection.

Account Name Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Revenue Salaries and Wages Payable Income Tax Payable Common Stock BILL'S BOARDS Unadjusted Trial Balance At September 30 Credits Notes. This balance equals the balance reported by the bank. A customer ordered $1,520 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue. Starting January 1, BB agreed to pay $1,560 cash to rent the land on which its billboards are located, for the January- December period. The accountant adjusted this account on April 30 but has not adjusted it since. BB still has supplies costing $310 on hand on September 30. BB bought scaffolding and billboards in October last year. Because the equipment was bought at the beginning of the fiscal year, no depreciation is carried forward from prior years. BB purchased and received $2,710 of supplies used for creating advertising displays. The supplier is to be paid in October. This balance relates to $1,380 cash paid by a customer in August for advertising from September 1-November 30. BB's employees are still waiting to be paid for the last half of September. BB hasn't paid the $320 tax owed from the last fiscal year. BB has issued 3,010 shares for $1,510 cash. Debits $ 17,900 1,520 1,040 7,600 $0 2,710 1,380 0 320 1,510 Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Rent Expense Supplies Expense Income Tax Expense Totals 320 1,510 5,720 68,250 47,000 0 520 4,310 0 $ 79,890 $ 79,890 paid for the last half of September. BB hasn't paid the $320 tax owed from the last fiscal year. BB has issued 3,010 shares for $1,510 cash. BB started business a few years ago, so this is the total accumulated earnings up to October 1 of last year. BB has provided $3,010 of services for which it hasn't yet billed customers or recorded in its accounting records. BB's employees earn $5,000 per month. The employees were paid in full on August 31, and were paid again on September 15. About $1,900 of the usefulness of the equipment's $7,600 cost has been used up during the current fiscal year. BB incurs a small cost to rent the land. on which its billboards are located. Rent for the current year has been paid in full. BB's accountant expensed $4,310 of supplies purchased during the year because he assumed the supplies would be completely used by year-end. As noted above, he was wrong. BB's tax rate is 20% of income before tax. No 1 2. 3 5 6 7 8 Date Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Service Revenue Accounts Receivable Rent Expense Prepaid Rent Depreciation Expense General Journal Accumulated Depreciation Deferred Revenue Service Revenue Accounts Receivable Service Revenue Salaries and Wages Expense Salaries and Wages Payable Supplies Supplies Expense Income Tax Expense Income Tax Payable 33 Debit 1,520 650 1,900 460 3,010 2,500 310 Next > 2 Credit 1,520 650 1,900 460 3,010 2,500 310 Adjusted No. No. 7 No. D 3 No. Date Sep 30 Date Sep 30 Sep 30 Date Sep 30 Sep 30 Date Sep 30 Cash Debit Credit Debit Credit 310 Accumulated Depreciation Debit Credit Accounts Payable Debit Income Tax Payable. Supplies 1,900 Credit General Ledger Account Balance No. 17,900 Balance 0 310 Balance 0 1,900 Balance 2,710 Date: Sep 30 Sep 30 Sep 30 Date Sep 30 2 Sep 30 Date Sep 30 Date Sep 30 Sep 30 No. No. No. C 1,520 Credit 650 2,500 Balance 1,520 0 3,010 Balance 1,040 390 Balance 7,600 Balance 0 2,500 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not i Income Tax Payable Deferred Revenue No. Debit Balance No. Date Debit Date Sep 30 Balance Sep 30 Sep 30 Common Stock Date Debit Date Sep 30 Sep 30 Service Revenue Date Debit Date Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Sep 30 Date Sep 30 2 Sep 30 Date Sep 30 Sep 30 No. No. 44 4 1 4 5 No. 4 No. 7 Credit Credit Credit 1,520 Rent Expense Debit 650 Supplies Expense Debit 460 3,010 Credit Credit 310 Balance 320 1,510 Balance 68,250 66,730 67,190 70,200 Balance 520 1,170 Balance 4,310 4,000 No. No. No. 4 4 3 6 Date Sep 30 Sep 30 Credit 460 Retained Earnings Debit Depreciation Expense Debit 2,500 Credit Credit 1,900 Salaries and Wages Expense Debit Credit Balance Balance 1,380 920 5,720 Balance 0 1,900 47,000 49,500 Adjusted Cash Accounts Receivable Supplies Prepaid Rent Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Rent Expense Salaries and Wages Expense Supplies Expense Total 122 Account Title BILL'S BOARDS Adjusted Trial Balance September 30, 2021 $ Debit 17,900 3,010 310 390 7,600 1,900 1,170 49,500 4,000 85,780 S Credit 1,900 2,710 2,500 320 920 1,510 5,720 70,200 85,780 Adjusted BILL'S BOARDS Income Statement For the Year Ended September 30 ILLA 60 S 0 0 0 0 0 0 0 0 Statement Adjusted Beginning Balance Ending Balance to prepare the Statement of Retained Earnings. Ba BILL'S BOARDS Statement of Retained Earnings For the Year Ended September 30 0 $ 0 0 0 0 0 0 0