get the adjusting journal entries

Part Two Instructions: Before you prepare the ten adjusting journal entries below in an Excel spreadsheet please make sure corrections have been made to any previous journal entries. The following are the distinglournal entries for the month of January. Record all adjusting entries on January 31, 2021. Record Adjusting Entries: Record the following month and adjusting entries for the month of January. Write the journal entries in a new Excel Spreadsheet. a. $150 of office supplies remained on hand. b. $200 of shipping supplies remained on hand. c. $2,300 of wages for the part-time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes: Temp Services Inc. will handle these. d. Make the necessary adjusting entries for one month's depreciation for the Computer Equipment using Straight Line Depreciation. e. Make the necessary adjusting entry for one month's depreciation for the truck using Straight Line Depreciation. 1. Make the necessary adjusting entry for one month's depreciation for the metal shelving using Straight Line Depreciation. 9. One month of the prepaid insurance has expired. n. One month of the prepaid rent has expired. Record the interest for the loan for $20,000 from Western Bank for one month 1. Record the interest for the loan for the land from Westem Bank for one month. Follow the same instructions for the adjusting joumal entries that you did in part one. Once the adjusting entries have been completed in the spreadsheet use the spreadsheet to answer the questions in Blackboard then upload the spreadsheet to Blackboard. Follow these instructions. Step 1: Write the adjusting journal entries in an Excel spreadsheet or Word document Step 2: Use the Excel spreadsheet or Word document to answer the questions in Blackboard in the content folder in the corresponding week. Step 3: Once you complete entering information click on the "Practice Set" tab on the navigation pane Step 4: When it opens, click on the corresponding assignment of the practice set Step 5: Once the assignment opens, scroll down and click on "Browse Local Files" Step 6: When you are done uploading the files, scroll down and click on the "Submit" button Tran Date Deposito Description Cher 1. 100/2021 Ms. Blade met with her lawyer and Crafoong the business The lawyer told Ms. Blade to register the tongue Radwer Bude with the County of addition, Made wilgan eroloer identification before we event Service and Bet estar per the aftes 2. 1/00/2021 Depot Millade opened a buni checking account at W Bank by depositing 536,000. The corporation we het toch certe for 9.000 shares of common stock with a value 3. 1/03/2021 Mr. Bladesigned one year rental. She was required to pay $12.000 Just for the months of any1.2001 - 30,202 1/03/2021 3000 Arranged for a general business Insurance policy and 54.00010 Sate Pennance. The premium for two months average 5 101/2000 Deposite Spearote to borrow 570.000 from West Bank Interestis Bowly and then is to be within twelve months interest will be called and distinguent 6. 1/05/2021 Purchased Office Supplies 53,800 count 7. Petroner 5000 Siwe wenden. De will called the ins there 100 LO Parcher andere building an We are there water with interested 10 UUR Premium www.thebes. More cewe the women were 400 wygge medarbe with the month will be on the end of the we weiteren Sweet the Wed deprecated in ere. There will die bet de 11 21 250mmune mora there were more 14 01 2000 Madhe 200 charge from 15. WA200 GROOT redaktor 1.000 The truth will be deprecated 16 1/14/2020 Rockin' Rollerblade is now open for sine 17. 1/342021 Depot Sold merchandise for $10.000 cases Tawa S.C.S. The cost of the Roller Blades $9.900, the cost of the Orange Roller Blades 5.500 Pantofi ale must be delivered to the moner. The merchandise wiibe hiped den 10 2021 C300 Pad 5325 to whip the merchandise 19. 76/2003 Purchased additional Orange roller bades on sccount for 6.000.C were 2/15, V.30.Ametumiwili 20. 1/17/2021 Purchased additional backrollerblades occount for $1.500 Bernt were 1/15, 130. A editie 2.320 Deprecated that. The coal mercado de 52 as weldes ww 22 2021 CM of 1 1329021 word by the Chamber of Come the father wat to public ber. Theodore dhe cond paid out 24/2/2003 Quarterer festen 25 m2 Des Merchasing 5.00 SX cost of the merchandise.org de S. 16 27. 7 GB the where there 210 CL 23 2021 30 for the more See IL 1002 Dupout To od 5.00 for de 2122203 170 33 IR O. Dand There Transactions Date 1. 1/02/2021 Deposit No. Check No. 2. 1/02/2021 Deposit #1 Description Ms. Blade met with her lawyer and CPA for advice on starting the business. The lawyer told Ms. Blade to register the company name Rockin' Roller Blades with the County of El Paso. In addition, Ms. Blade will get an employer identification number (EIN) from the Internal Revenue Service and get a sales tax permit from the state of Texas. Ms. Blade opened a business checking account at Western Bank by depositing $36,000. The corporation issued her a stock tertificate for 9,000 shares of common stock with no par value. Ms. Blade signed a one-year rental. She was required to pay $12,000 for rent for the months of January 1, 2021 - April 30, 2021. Arranged for a general business liability insurance policy and paid $6,000 to State Penn Insurance. This premium is for twelve months coverage. Signed a note payable to borrow $20,000 from Western Bank. Interestis 10% annually and the note is to be repaid with interest in twelve months. (Interest will be calculated and shown as an adjusting journal entry) Purchased Office Supplies $2,800 on account 3. 1/03/2021 Ck #1001 4. 1/03/2021 Ck #1002 5. 1/03/2021 Deposit #2 6. 1/05/2021 7. 1/05/2021 8. 1/05/2021 Ck 1003 9. 1/06/2021 Ck #1004 10. 1/06/2021 Purchased metal shelving on account for $3,000. It will be depreciated over 5 years using straight-line depreciation and it will have $500 of salvage value at the end of 5 15 years Depreciation will be calculated at the end of the month and in the adjusting journal entries Purchased Shipping Supplies $1,000 Purchased land for a future building site $75,000, paying $10,000 in cash and giving a note payable from Western Bank for the remainder. The bank note will carry 10% interest and will be repaid in 9 months. The first month of interest will be paid in the adjusting journal entries at the end of the month Purchased a new computer system that cost 56,25 from Computer Inc for use in the business. Ms. Blade signed a 6 month, 10% note payable for the cost of the system. The computer system has an estimated useful life of five years the residual (salvage) value is $400. This will be recorded as Computer Equipment, Depreciation and interest will be an adjusting journal entry using straight-line depreciation to be repaid with interest in twelve months and will be done at the end of the month. Arranged for Move West to make the delivery of the computer system and paid the delivery charge of $550. This charge should be added to the cost of the computer equipment purchased and deprecated on the same basis as the computer equipment. The depreciation will be calculated in the adjusting journal entries at the end of the month Purchased 230 merchandise inventory orange roller blades for $6,900 on account. The vendor did not extend credit terms Purchased 250 merchandise inventory-black roller blades for $7,500 of on account. There were no credit terms for prompt payment. Ms. Blade received and paid the $1,000 charge from her lawyer. Purchased a used truck for 11,000 using cash. The truck will be depreciated 11 1/08/2021 Ck #1005 12.1/08/2021 13. 1/09/2021 14. 1/13/2021 Ck #1006 15. 1/14/2021 Ck #1007 16. 1/14/2021 Rockin' Roller Blades is now open for business. 17. 1/14/2021 Deposit #3 Sold merchandise for $19,800 cash. Sales Tax was $1,633.50. The cost of the Roller Blades is $9,900, the cost of the Orange Roller Blades is $3,900. Part of this sale must be delivered to the customer. The merchandise will be shipped FOB destination. 18. 1/16/2021 Ck #1008 Paid $225 to ship the merchandise. 19. 1/16/2021 Purchased additional orange roller blades on account for $6,000. Credit terms were 2/15, n/30. Assume credit terms will be used. 20. 1/17/2021 Purchased additional black roller blades on account for $11,500. Credit terms were 1/15, n/30. *Assume credit terms will be used. 21. 1/20/2021 Deposit #4 Recorded cash sales that totaled $15,000. Sales tax is $1,237.50. The cost of merchandise sold was $7,500 (orange blades were $3,750; black blades were $3,750). 22. 1/22/2021 Ck #1009 Ms. Blade signed up for a Roller Blade Exhibition. She paid the registration fee of $250. 23. 1/23/2021 Ms. Blade participated in a rollerblade exhibition held at the convention center sponsored by the Chamber of Commerce. She felt this was a good way to publicize her new business. The cost to participate was $800 and she considers this an Advertising expense and paid on account. 24. 1/26/2021 Ck #1010 Paid for the roller blades purchased on 1/09/2021. 25. 1/27/2021 Deposit #5 Ms. Blade recorded cash sales totaling $10,500. Sales tax is $866.25. The cost of the merchandise sold was $5,250 (orange blades $2,250, black blades $3,000) 26. 1/27/2021 Ck # 1011 Paid the Advertising expense billed on account in transaction #23. 27. 1/27/2021 Ck #1012 Paid the balance due for the roller blades. There are three invoices. 28. 1/30/2021 Ck #1013 American Express sent a bill for $235 for gasoline expense and the bill was paid 29. 1/30/2021 Received but did not pay the utility bill for the month, $445. 30. 1/30/2021 Ck #1014 Paid the first monthly installment on the computer equipment. $52.13 is for interest and $1,042.50 is for principal. 31. 1/30/2021 Deposit #6 Recorded sales made for the last week of the month. Sales tax is $891. Total cash sales were $10,800. The cost of the merchandise sold was $5,400 (orange blades $1.650, black blades $3,750). 1/31/2021 Ck #1015 Paid the sales tax to the proper taxing authority 33. 1/31/2021 Ck #1016 Declared and paid a cash dividend of $200 to Ms. Blade. 32