Continuing Problem-Chapter 3 The unadjusted trial balance for PS Music as of July 31, 2015 is provided in the next tab in the warksteet. You can also refer to Continuing Problem-Chapter 2 for the numbers. Based on those balances and the additional data below, complete the adjustments and the adjusted trail balance columns in the worksheet. Record the adjusting journal entries in the general journal and post them to the general ledger. You will need the following additional accounts: \( \begin{array}{cl}\begin{array}{cl}\text { Account # } & \text { Account Name } \\ 18 & \text { Accumulated Depreciation-Office Equipme } \\ 22 & \text { Wages Payable } \\ 57 & \text { |nsurance Expense } \\ 58 & \text { Depreciation Expense }\end{array} \\ & \end{array} \) July 31: During July, PS Music provided guest disc jockeys for KXMD far a tatal of 115 hours. The contract requires P5 Music to provide a guest dsc jockey far 80 haurs per manth for a monthly fee of $3,600, which P5 Music has already received payment for. Any additional hours beyond 80 will be billed to KOMD at $40 per hour. July 31: Supplies on hand at July 31,$275. July 31: The balance of the prepaid insurance account relates to the following July 1, 20y5 transaction: Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. July 31: Depreciation of the affice equipment is $50. July 31: The balance of the unearned revenue account relates to the contract between P5 Music and KXMD, described in the July 3,205 transaction, which included the following: "On behalf of PS Music, Peytan signed a contract with a local radio station, KXMD, to provide guest spots for the next three manths. The contract requires PS Music to provide a guest disz jackey for 80 hours per manth for a monthly fee of $3,600." In accardance with the contract. Peytan received $7,200 from KKMD as an advance payment for the first two manths. July 31: Accrued wages as af July 31 were $140. Post the adjusting entries to the general ledger. Extend the sccount balance to the appropriate balance column after each posting. Be sure to save your work in the spreadsheet. Compare the numbers in your worksheet's adjusted trial balance to your general ledger to verify your debits equal your credits. Continuing Problem-Chapter 3 The unadjusted trial balance for PS Music as of July 31, 2015 is provided in the next tab in the warksteet. You can also refer to Continuing Problem-Chapter 2 for the numbers. Based on those balances and the additional data below, complete the adjustments and the adjusted trail balance columns in the worksheet. Record the adjusting journal entries in the general journal and post them to the general ledger. You will need the following additional accounts: \( \begin{array}{cl}\begin{array}{cl}\text { Account # } & \text { Account Name } \\ 18 & \text { Accumulated Depreciation-Office Equipme } \\ 22 & \text { Wages Payable } \\ 57 & \text { |nsurance Expense } \\ 58 & \text { Depreciation Expense }\end{array} \\ & \end{array} \) July 31: During July, PS Music provided guest disc jockeys for KXMD far a tatal of 115 hours. The contract requires P5 Music to provide a guest dsc jockey far 80 haurs per manth for a monthly fee of $3,600, which P5 Music has already received payment for. Any additional hours beyond 80 will be billed to KOMD at $40 per hour. July 31: Supplies on hand at July 31,$275. July 31: The balance of the prepaid insurance account relates to the following July 1, 20y5 transaction: Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. July 31: Depreciation of the affice equipment is $50. July 31: The balance of the unearned revenue account relates to the contract between P5 Music and KXMD, described in the July 3,205 transaction, which included the following: "On behalf of PS Music, Peytan signed a contract with a local radio station, KXMD, to provide guest spots for the next three manths. The contract requires PS Music to provide a guest disz jackey for 80 hours per manth for a monthly fee of $3,600." In accardance with the contract. Peytan received $7,200 from KKMD as an advance payment for the first two manths. July 31: Accrued wages as af July 31 were $140. Post the adjusting entries to the general ledger. Extend the sccount balance to the appropriate balance column after each posting. Be sure to save your work in the spreadsheet. Compare the numbers in your worksheet's adjusted trial balance to your general ledger to verify your debits equal your credits
