Descriptions of items that require adjusting entries on June 30, follow, a) The company has completed, but not yet billed, $6.400 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $3,700 salvage value, Is $50 per month c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $9,600 salvage value, is $1.200 per month d) Straight-line depreciation on the building, assuming a 25-year life and a $3,500 salvage value is $170 per month e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1 Accrued interest on the long-term note payable is $80. g) The drafting assistant is paid $1.400 for a 5 day work week. 2 days' wages have been incurred but are unpaid as of month-end 0 General General Requirement Income Trial Balance St Retained Journal Ledger Impact on Statement Earnings Balance Sheet Income For transactions a-9, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry Show less View transaction list Journal entry worksheet 2 4 5 6 7 The company has completed, but not yet billed. $6,400 of engineering services for a client. Prepare the required adjusting entry, if any. Notre secrets OM Juno Account Title Debit Credit Record Clear View general Journal ucation.com/ext/map/indexhtml?_conscon&external_browser=0&aunchUrl=http%253A%252F%252Fctocs.blackboard.com%252Fweb work Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Unadjusted General Ledger Account Cash Accounts receivable Debit Credit No Debit Credit No Date Jun 30 Balance 24,210 Date Jun 30 Balance 29,600 Prepaid insurance Debit Credit Office equipment Debit Credit No No. Date Jun 30 Balance 3.300 Date un 30 Balance 6,700 Drafting equipment Debit Building Debit No Credit No. Credit Date Jun 30 Balance 81.000 Date Jun 30 Balance 54500 Land Debit Accounts payable Debit Credit No Credit No Date Jun 30 Balance 49.500 Date Jun 30 Balance 1 350 Long-term notes payable Debit Credit Common stock Debit Credit No No Date Date Jun 30 Balance 53.100 Balance 168,500 Dividends Engineering fees earned Debit Credit No Date Debit Credit No Balance 9.500 Date Jun 30 Balance 43.600 Wages experte Debit Credit No Equipment rental expense Debit Credit No Date Jun 30 Balance 2.000 Date Jun 30 Balance 1350 Na Date Juno Repairs apente Debit Credit No. Date Advertising expense Debit Crect Balance 2.540 g) The drafting assistant is paid $1,400 Tor a 5-uay General Journal Requirement General Ledger Trial Balance Income Statement St Retained Earnings Baland 33:21 Use the drop-downs to select the accounts properly included on the income statem balances will appear for each account, based on your selection. . OK Unadjusted BROWN ENGINEERING Income Statement For Month Ended June 30, 2019 Revenues 0 0 $ 0 Expenses 0 0 0 0 0 0 0 0 0 0 0 Net income $ 0 The unadjusted or adjusted balances will appear for each account, based on yo Unadjusted BROWN ENGINEERING Statement of Retained Earnings For Month Ended June 30, 2019 Retained earnings, June 1, 2019 Add Net income Less Dividends Retained earnings, June 30, 2019 $ 0 (9,500)
