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Hello, I was wondering if you could help me with my accounting problem? 1. Prepare general journal entries on December 31, 2015 to record the

Hello, I was wondering if you could help me with my accounting problem?

1. Prepare general journal entries on December 31, 2015 to record the following unrelated year- end adjustments.

a. On December 2, 2015, $6,200 of supplies were purchased and recorded as an asset. A count revealed $1,000 still on hand at December 31, 2015.

b. Services performed during December but not yet billed to customers totaled $5,000.

c. Depreciation of equipment is recorded using the straight-line method over 10 years. The equipment was purchased on December 1, 2015 for $300,000, and has no residual value at the end of its useful life.

d. Prepaid insurance expired during the month of December was $2,500.

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2. Using the below Adjusted Trial Balance, complete Reuben's Cubic Storage Income Statement Statement of Changes to Qwner's Equity and their Balance Sheet. When completing the Statement of Changes in Owner's Equity, Mr. Clausen's capital account balance of $30,520 consists of a $20,520 balance on January 1, 2015, plus an additional $10,000 investment during 2015 (20 points). Reuben's Cubic Storage Adjusted Trial Balance December 31, 2015 $3,050 400 830 80 4,200 Cash Accounts receivable Prepaid insurance Office supplies Office equipment Accumulated depreciation, office equipment Buildings Accumulated depreciation, buildings Land Wages pay able Property taxes payable Interest payable Uneamed rent Long-term notes payable Ruben Clausen, capital Ruben Clausen, with drawals Rent earned Wages expense Utiliti es expense Property taxes expense Insurance expense Office supplies expense Depreciation expense, office equipment Depreciation expense, building Interest expense Totals $1,100 98,000 28,000 115,000 880 1,400 2,200 460 178,000 30,520 21.000 48,600 28,880 1,900 2,400 800 250 400 5,570 8,400 $291,160 $291,160

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