(Excel templates for all questions are available in Mylab Accounting) P4-1C. To: Peter George From: Anthony Hoang RE: Accounting Procedures Please prepare from the following information for Eco Document Disposal Company (attached), (1) a worksheet, along with (2) journalized adjusting entries for the year ending May 31, 2022. Adjustment Data a. Insurance expired, $510.75. b. Disposal supplies on hand, $723. c. Depreciation for the year on disposal equipment is based on the straight-line method, 12-year life, and a residual value of $1,225. d. Depreciation for the year on building is also straight-line, 20-year life, and a residual value of $25,000. e. Wages earned by employees but not due to be paid until June amounted to 36 hours at $18/hour plus 30 hours at $24/hour. ECO DOCUMENT DISPOSAL COMPANY TRIAL BALANCE MAY 31, 2022 Dr. 2 2 2 1 000 1201000 6 8 100 1 5 4200 1174000 70 10.00 4800 000 Cash Accounts Receivable Prepaid Insurance Disposal Supplies Disposal Equipment Accumulated Depreciation, Disposal Equipment Building Accumulated Depreciation, Building Accounts Payable A. Hoang, Capital A. Hoang, Withdrawals Disposal Fees Revenue Wages Expense Utilities Expense Advertising Expense 2070 000 466000 48 68100 1674 200 5/2/7/200 28 24 000 25 4400 8 7200 133 77 100 133 77 100 (Excel templates for all questions are available in Mylab Accounting) P4-1C. To: Peter George From: Anthony Hoang RE: Accounting Procedures Please prepare from the following information for Eco Document Disposal Company (attached), (1) a worksheet, along with (2) journalized adjusting entries for the year ending May 31, 2022. Adjustment Data a. Insurance expired, $510.75. b. Disposal supplies on hand, $723. c. Depreciation for the year on disposal equipment is based on the straight-line method, 12-year life, and a residual value of $1,225. d. Depreciation for the year on building is also straight-line, 20-year life, and a residual value of $25,000. e. Wages earned by employees but not due to be paid until June amounted to 36 hours at $18/hour plus 30 hours at $24/hour. ECO DOCUMENT DISPOSAL COMPANY TRIAL BALANCE MAY 31, 2022 Dr. 2 2 2 1 000 1201000 6 8 100 1 5 4200 1174000 70 10.00 4800 000 Cash Accounts Receivable Prepaid Insurance Disposal Supplies Disposal Equipment Accumulated Depreciation, Disposal Equipment Building Accumulated Depreciation, Building Accounts Payable A. Hoang, Capital A. Hoang, Withdrawals Disposal Fees Revenue Wages Expense Utilities Expense Advertising Expense 2070 000 466000 48 68100 1674 200 5/2/7/200 28 24 000 25 4400 8 7200 133 77 100 133 77 100