Check my work Events for Year 2 1. Paid $5,600 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $53,000. 3. Purchased $4,400 of supplies on account. 4. Paid $15,300 cash in advance for rent. The payment was for one year beginning April 1, Year 2. 5. Performed services for customers on account for $120,000. 6. Incurred operating expenses on account of $57,500. 7. Collected $105,000 cash from accounts receivable. 8. Paid $55,000 cash as a partial payment on accounts payable. 9. Paid $33,100 cash for salary expense. 10. Paid a $13,000 cash dividend to stockholders. Adjusting Entries 11. Made the adjusting entry for the expired rent. (Hint: Part of the rent was paid in Year 1.) 12. Recorded supplies expense. physical count showed that $700 of supplies were still on hand. g. Repeat parts a through ffor Year 2. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Statement of Cash Flows only, items to be deducted must be indicated with a negative amount. ) Required information No Event General Journal Debit Credit 1 1 Salaries payable 5,600 Cash 5,600 N 2. Cash 53,000 Service revenue 53,000 3 3 4,400 Supplies Accounts payable 4,400 4. 15,300 Prepaid rent Cash 15,300 5 5 Accounts receivable 120,000 Service revenue 120,000 6 6 57,500 Operating expenses Accounts payable 57,500 7 7 Cash 105,000 16 Required information Accounts payable 57,500 7 of 7 7 7 Cash 105,000 Accounts receivable 105,000 8 8 S 55,000 Accounts payable Cash 55,000 Book 9 9 Salaries expense 33,100 Print Cash 33,100 erences 10 10 Dividends 13,000 Cash 13,000 11 11 Rent expense 14,875 Prepaid rent 14,875 12 12 3,700 Supplies Expense Supplies 3,700 M Prey 90 of 160 Next Required information Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Prepaid Rent Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Payable Beg. Bal. Beg. Bal. Accounts Payable Salaries Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. ro Required information Operating Expenses Rent Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Expense Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Check my work Events for Year 2 1. Paid $5,600 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $53,000. 3. Purchased $4,400 of supplies on account. 4. Paid $15,300 cash in advance for rent. The payment was for one year beginning April 1, Year 2. 5. Performed services for customers on account for $120,000. 6. Incurred operating expenses on account of $57,500. 7. Collected $105,000 cash from accounts receivable. 8. Paid $55,000 cash as a partial payment on accounts payable. 9. Paid $33,100 cash for salary expense. 10. Paid a $13,000 cash dividend to stockholders. Adjusting Entries 11. Made the adjusting entry for the expired rent. (Hint: Part of the rent was paid in Year 1.) 12. Recorded supplies expense. physical count showed that $700 of supplies were still on hand. g. Repeat parts a through ffor Year 2. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Statement of Cash Flows only, items to be deducted must be indicated with a negative amount. ) Required information No Event General Journal Debit Credit 1 1 Salaries payable 5,600 Cash 5,600 N 2. Cash 53,000 Service revenue 53,000 3 3 4,400 Supplies Accounts payable 4,400 4. 15,300 Prepaid rent Cash 15,300 5 5 Accounts receivable 120,000 Service revenue 120,000 6 6 57,500 Operating expenses Accounts payable 57,500 7 7 Cash 105,000 16 Required information Accounts payable 57,500 7 of 7 7 7 Cash 105,000 Accounts receivable 105,000 8 8 S 55,000 Accounts payable Cash 55,000 Book 9 9 Salaries expense 33,100 Print Cash 33,100 erences 10 10 Dividends 13,000 Cash 13,000 11 11 Rent expense 14,875 Prepaid rent 14,875 12 12 3,700 Supplies Expense Supplies 3,700 M Prey 90 of 160 Next Required information Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Prepaid Rent Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Payable Beg. Bal. Beg. Bal. Accounts Payable Salaries Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. ro Required information Operating Expenses Rent Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Expense Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal