File Home Insert Design Layout References Mailings Review View Help Acrobat Share Comments Find Paste Clipboard Cut Copy Format Painter Arial 16 - ' Aa A == T AaBbC AaBbCc AaBbCc AaBbCc AaBbCcDc AaBbCcDc AaBbC AaBbCcL AaBbCcDc AaBbCcDc Replace BI Uab x x AA Heading 3 Heading 5 Heading 7 Heading 9 Normal No Spac... Heading 1 Heading 2 Heading 4 Heading 6 Select Create and Share Request Adobe PDF Signatures Dictate Sensitivity Font Paragraph > Styles > Editing Adobe Acrobat Voice Sensitivity Graves Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable 116,000 30,000 Supplies 6,000 Prepaid Insurance 18,000 Inventory 110,600 Part 1: Prepare adjusting journal entries using the unadjusted trial balance provided to you in Question 1 of the Financial Statement Homework quiz on D2L and the information provided below. The Unadjusted Trial Balance can be downloaded from the D2L quiz by right clicking on the image and saving it to your computer. When preparing the adjusting journal entries, use only the account names provided in the Unadjusted Trial Balance (do not create any new account names and do not abbreviate account names). 1. The prepaid insurance balance reflects a 12-month insurance policy which started on Sept. 1, 2018, and no adjustments were made from Sept. 1 - Dec. 31, 2018. Write the adjusting journal entry for Dec. 31, 2018. Vehicle 15,000 Equipment 75,000 Accumulated Depreciation Accounts Payable 40,000 9,000 2. Additional depreciation expense of $15,000 needs to be recorded for the year ended 2018. Unearned Revenue 13,500 Wages Payable 11,500 Long-Term Notes Payable 48,000 Common Stock Retained Earnings (1/1/2018) 41,000 37,600 3. Wages due to employees of $8,000 need to be recorded at year end. These wages will be paid to employees on January 9, 2019. (next month) Dividends 5,000 Service Revenue 472,000 Repair Expense 4. The company has completed $12,900 of the amount in unearned revenue as of Dec. 31st 14,000 Delivery Expense 38,000 Depreciation Expense 15,000 Rent Expense 38,000 Insurance Expense 9,000 5. In Dec. the company provided services worth $8,000 to clients that were not yet billed or recorded by Dec. 31. Record the additional revenue. Wages Expense 141,000 Supplies Expense 8,000 Interest Expense 2,000 Income Tax Expense 32,000 6. On Dec 31st the company completed a physical count of their supplies and determined that only $4,000 of supplies are still on hand. Total 672,600 672,600 Page 2 of 9