complete adjusting entries (5 entires). include impact on lesgers (T-aacounts).

The following information applies to the questions displayed below] Francine's Fast Deliveries, Inc. (FFD) was otganized in December of 2011. It had limited activity in 2011. The resulting balance sheet at the beginning of 2012 is provided below: Francine's Fast Deliverles, Inc. Balance Sheet et January 1, 2012 Liabilities: Accounts Payable Stockholders' Equity: Contributed Capital Retained Earnings Assets: Cash Accounts Receivable Supplies $ 1,110 $1,775 1,100 900 $2,000 665 $3,775 Total Liabilities & Stk. Equity $3,775 Total Assets January Transactions for Francine's Fast Deliverles, Inc. (FFD) Date 1 Owners invest $30,000 af additional cash in the business. 2a Supplies are purchased for $1,200 on account. 2b Insurance is paid for 12 months beginning January 1: $8,220 (Record as an asset) 2c Rent is paid for 3 months beginning in January. $4,500 (Record as an asset 2d Two employees are hired. Each employee will be paid $1,710 per month 3 FFD borrows $34,000 from 1t State Bank at 6 % annual interest 6 Adelivery van is purchased for cash. Including tax the total cost was $57.600. It will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation wil be charged in January 7 $770 of the receivables from December's sales are collected 8 $888 of the accounts payable from December are paid 9 Performed services for customers on account. Mailed involces totaling $10,800. 10 Services are performed for cash customers: $7,560. 16 Wages for the first half of the month are paid on Janusry 16: $1,710. 20 The company receives $4100 from a customer for an advance order for services to be provided in January and February. 25 Collections from customers on account (see January 9 transaction): $4,320 30a The last 2 weeks wages earned by employees are $855 per employee and will be paid on February 3. 30b A $1,085 utility bill for January arrived. It is due on February 15. Additional Information for adjusting entries at January 31 a. Supplies on hand on January 31 total $420 b. The company completed 60 % of the deliveries for the customer who paid in advance on January 20. C Interest is accrued for the bank loan. [Assume a full month for the 1t State Bank loan) d. Record January depreciation. e. Adjust the prepaid asset (Rent and Insurance) accounts as needed