General Journal Debt Credit

Rent expense	17550.00
Cash		1750.00
Equipment	35000.00
Notes Payable		30000.00
Cash		50000.00
Cash	15000.00
Fees earned		15000.00
Cash	1800.00
Accounts receivable		1800.00
Accounts recievable	2400.00
Fees Earned		2400.00
Accounts Payable	470.00
Cash		470.00
Utilities Expense	530.00
Cash		530.00
Federal Income Tax Payable	979.00
Social Security Payable	973.44
Medicare Payable	243.36
Cash		2195.80
Supplies	800
Accounts Payable		800
Advertising Expense	600
Cash		600
Accounts Receivable	1000
Fees Earned		1000
Cash	4000.00
Fees Earned		4000.00
Salaries and Wages Expense	11208.00
Federal Income Tax Payable		1347.00
Social Security Payable		672.48
Medicaretax Tax Payable		168.12
Salary/ wage payable		9020.40
Payroll expense	1045.71
Social Security tax payable		672.48
Medicare tax payable		168.12
State unemployment tax payable		178.63
Federal unemployment tax payable		26.46
Salaries and wages payable	9020.40
Cash		9020.40
Bank Service charge	5.65
Cash		5.65
Supplies expense	700.00
Supplies		700.00
Insurance Expense	800.00
Prepaid Insurance		800.00
Depreciation expense	583.33
Accumulated depreciation		583.33

There are several adjusting entries to be made. Supplies at the end of the period equal $500. $800 of prepaid insurance has expired. Also, depreciation must be computed and recorded. Prior to May, all fixed assets were fully depreciated. However, new equipment was purchased in May. Depreciation is computed on a straight-line basis with no salvage value and a useful life of 5 years (Round entry to two decimal places). Waters Design has a fiscal year end of December 31st. Therefore, no closing entries will be madeonly adjusting. Using the journal above create an unadjusted trial balance, adjustments, adjusted trail balance, income statement, and balance sheet.