Dyer, Inc , completed its first year of operations on December 31, 2015 Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement Income Statement, 2015 Rent Revenue $ 111,500 Expenses Salaries and Wages Expense $ 28,000 Repairs and Maintenance Expense 12,500 Rent Expense 8,500 Utilities Expense 3,500 Travel Expense 2,500 Total Expenses 55,000 Income $ 56,500 You are an independent CPA hired by the company to audit the firms accounting systems and financial statements In your audit, you developed additional data as follows a Wages for the last three days of December amounting to $260 were not recorded or paid b The $350 telephone bill for December 2015 has not been recorded or paid c Depreciation of equipment amounting to $22,500 for 2015, was not recorded d Interest of $450 was not recorded on the note payable by Dyer, Inc e The Rental Revenue account includes $3,500 of revenue to be earned in January 2016 f Supplies costing $550 were used during 2015, but this has not yet been recorded g The income tax expense for 2015 is $6,500, but it wont actually be paid until 2016 Prepare adjusting journal entry for each item ( a) through ( g) should be recorded at December 31, 2015 (If no entry is required for a transaction event, select No Journal Entry Required in the first account field ) A) Record the entry for wages for the last three days of December amounting to $260 that were not recorded or paid B) Record the $350 telephone bill for December 2015 that has not been recorded or paid C) Record depreciation of equipment amounting to $22,500 for 2015 previously not recorded D) Record interest of $450 previously not recorded on the note payable by Dyer, Inc E) Record the adjustment to the Rent Revenue account that includes $3,500 that won't be earned until January 2016 F) Record $550 of supplies used during 2015, but not yet recorded G) Record the entry for the 2015 income tax expense of $6,500 that won't be paid until 2016

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Dyer, Inc., completed its first year of operations on December 31, 2015. Because this is the end of the annual accounting period, the company bookkeeper

Dyer, Inc., completed its first year of operations on December 31, 2015. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement:

Income Statement, 2015
Rent Revenue			$	111,500
Expenses:
Salaries and Wages Expense	$	28,000
Repairs and Maintenance Expense		12,500
Rent Expense		8,500
Utilities Expense		3,500
Travel Expense		2,500


Total Expenses				55,000

Income			$	56,500

You are an independent CPA hired by the company to audit the firms accounting systems and financial statements. In your audit, you developed additional data as follows:



a.	Wages for the last three days of December amounting to $260 were not recorded or paid.
b.	The $350 telephone bill for December 2015 has not been recorded or paid.
c.	Depreciation of equipment amounting to $22,500 for 2015, was not recorded.
d.	Interest of $450 was not recorded on the note payable by Dyer, Inc.
e.	The Rental Revenue account includes $3,500 of revenue to be earned in January 2016.
f.	Supplies costing $550 were used during 2015, but this has not yet been recorded.
g.	The income tax expense for 2015 is $6,500, but it wont actually be paid until 2016.

Prepare adjusting journal entry for each item (a) through (g) should be recorded at December 31, 2015. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

A) Record the entry for wages for the last three days of December amounting to $260 that were not recorded or paid.

B) Record the $350 telephone bill for December 2015 that has not been recorded or paid.

C) Record depreciation of equipment amounting to $22,500 for 2015 previously not recorded.

D) Record interest of $450 previously not recorded on the note payable by Dyer, Inc.

E) Record the adjustment to the Rent Revenue account that includes $3,500 that won't be earned until January 2016.

F) Record $550 of supplies used during 2015, but not yet recorded.

G) Record the entry for the 2015 income tax expense of $6,500 that won't be paid until 2016.