Calculator Instruction Chart of Accounts General Journal Final Question Instruction REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following trial balances are available Accounts Unadjusted Trial Adjusted Trial Debit Credit Debit Credit Cash 13,000 13,000 Accounts Receivable 1,500 1,800 Prepaid Insurance 600 200 Supplies 3,800 3,000 Machines 30,000 30,000 Accumulated Depreciation 12,000 17,500 Wages Payable 900 Uneamed Fees 6,700 6,500 Common stock 24,000 24,000 Dividends 4.800 4,800 Fees Earned 25,000 25,500 Prev UUU Dividends 4,800 4,800 Fees Eamed 25,000 25,500 Wages Expense 14,000 14,900 Depreciation Expense 5,500 Supplies Expense 800 Insurance Expense 400 67,700 67,700 74,400 74,400 Required: a. Reconstruct the adjusting entries. Refer to the Chart of Accounts for exact wording of account titles. b. What is the amount of net income? Chart of Accounts ASSETS REVENUE 11 Cash 41 Fees Eamed 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 51 Advertising Expense 52 Insurance Expense 16 Machines 17 Accumulated Depreciation 53 Interest Expense 54 Wages Expense LIABILITIES 55 Supplies Expense 56 Utilities Expense 21 Accounts Payable 57 Depreciation Expense 59 Miscellaneous Expense 22 Notes Payable 23 Unearned Fees 24 Wages Payable 25 Interest Payable an EQUITY vi 31 Common Stock ee 32 Retained Earnings 33 Dividends General Journal a. Reconstruer the adjusting entries on December 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Adjusting Entries 1 2 5 4 5 6 7 I 10 11 12 15 General Journal Final Question b. What is the amount of net income? Net income $ 1 2 3 3 5 7