"Hello, I was wondering if you would be able to help me with my fundamental accounting principles, Chapter 3 Problem 3-10A its dealing with posting, adjusted trial balance, and preparing financial statements.

CHAPTER 3 Adjusting Accounts for Financial Statements Total Cost 5,760 22,320 3,780 e. The office e furmiture was purchased on March 1, 2016, and has an estimated useful life of r two years of use, it is expected that the furniture will be worthless. An analysis of the company's insuranc twi ears. After f. Accrued consulting revenue at year-end totalled $4,200 March 1, 2017 l premium for each policy was paid in full at the purchase date, a t was debited for the and the Prepaid Unadjusted Trial Balance Dctober 31. 2017 The total premium Acct. No for the full cost. Appropriate adjusting entries ha e compang has 15 enployees who earn a total of $4,800 in day. The preceding Priday. November 31, 20 Noventber 24 to 28 inclusive. Theg will be paid sinlaries for five ful dayske Credit worki work in the five-day workweek en mber 30, 2017, falls on a Sunday, and all 15 emplog 30, 2016 ending on the Apcounts receivable. 61000 Notes receivanle u are paid each Monday for their work in the five 50,000 5,300 3.400 27,000 84,000 126 Supplios 12B Prepeid insurande Prepeid rent December 1, 2017 $306,000 and is 161 Office fumiture.... d. The company purchased a building on Jalg 1, 2017. The building cost $ affice furniture expected to have a $25,00 residual value at the end of its predicted 30-year lif arranged to rent rent was paid some space to a tenant at $3,1L00 per month, starting on October 1, 2017. The on time on Octoher 1, and t However, the tenant has not paid the November rent. The c 18,000 e. Because the company is not large enough to accupy the entire building, it 210 233 Wages payable Unearned consulting revenue leff Mcore, capital Jeft Mucre, withdrawals he aniount received was credited to the Rent Revenue ompany has worked oru 26,000 223,000 28,000 t with the tenant, who has pronised to pay both November's and December in full on December 15 480 tenant for $3,650 per month. The ment was recorded with a 601 622 637 Depreciation expense, affice furniture Wages e Insurance expense Rent expenise.. Supplies expense r. On October 1, the compang also rented space to another tenant paid five months rent in advance on that date. The pay credit to the Unearned Rent account 192,000 650 Required 1. Use the information to prepare the annual adjusting entzries as of November 30, 2017. 2. Prepare journal entries to record the sutsequent cash transactions in December 2017 described in g. Interest of $85 had accrued on the note receivable for the month of October. h. The balance in the Prepaid Insurance account represents the parts (c) and (e) remaining balance of a two- year policy purchased on April 1, 2016. A count of the supplies on October 31 revealed a balance remaining of $620. i. Problem 3-9A Adjusting entries (annual) LO4 Rainmaker Environmental Consultants is just finishing its second year of operations. The com unadjusted trial balance at October 31, 2017, follows: Required Prepare the annual adjusting journal entries for October 31, 2017, based on the above. Problem 3-10A Posting, adjusted trial balance, and preparing financial statements LO6,7 CHECK FIGURES: 3. Adjusted trial balance, debits $580,585 4. Loss $79,845 Required Using the information in Problem 39A, complete the follow 1. Set up balance column accounts for Rainmaker Environmental Consultants and enter the bal- Rainmaker prepares adjustments each October 31. The following additional information is avail on October 31, 2017 a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance in the Consulting Revenue account was c. The balance in the Prepaid Rent account represents thr d. Accrued wages at October31 totallied s6,800. ances listed in the unadjusted trial balance. 2. Post the adjusting entries prepared in Problem 39A to the accounts. 3. Prepare an adjusted trial balance. 4. Use the adjusted trial balance to prepare an income statement, a statement of changes in equity, and services to be performed in November. September 1,2017. ee months of rent beginning a balance sheet. Assume that the owner, Jeff Moore, made no owner investments during the year 208 209 elictes orowided these facts: Tutal Cost CHAPTER 3 Adjusting Accounts foe Financial Statements u e. The office furniture was purclased on March L, 3016, and has an estimated useful life of two gears After twa gears of use, it is expected that the turniture will be worthles:5 f. Accrued consulting revenue at year-end totalled $1,200 prenium tor ach pobey ws gald in full at the purrlase date it was debiced for th and the Prepaid Ueadjusted Trial Balancs been mate to No Tie total premium accon 3e, aun e full n.. appr proce odivsting eritries hace y hus 16 anglapss wirn sarn a tocal of s-4, 510 in sularies t week ending on the 1,0 proceding Rid Nonober 50.21 aveber to wille ud salaties for five full dauysor u are juid ac Noudsy for their woe'k in the tive- br 30 2T, sls on a Sunday, and all 15 employers 131 Decemer 1, 1 . The company pur he ed a liuing co Jull, L 17. The building cost $306,00 expected to have valuc t thw e of s predicted 30-year life, Prepsid ofr oc fum accumuisted depred ation 162 the entire building, it arranped to t $ 28,000 12,030 se sue to a tmantat $.10er nionh, staring on Deiober I, 2017. The ou line u Ornber 1, audtenzout necrived was ervitted to th ttawever, the tenant has sot xail the Noemher ler. The company has worked out agueomess writih the terant, vhu lis pronuiss! to pay hoch Noven e. Berause the roupang is mut uge emangit in occupy 233 wed onsulting revene e Rent Revenu 223,000 302 Je Mcore, wthd her's and December's rt ng 232,020 in fall cn Deceniver 15 r. On Cktober I, the ouspry iso rentai space to ncher tenant fior 83,860 per month Th 192,000 ternant paid five moned tent in sdvauce oe that date, The payrment was recorded witha credil to the reaned Rent scanur Rant cope0 5N27,0$527,50 T se thte intormatnt oae the ntries as of November S0, 2017 g. Interest of 885 had accrued on the note reccivable for the nonth of October. h. The balance in lle Prepald Insurance account represents the remaining balance of a two- 2 Prepare joumal entries in nexed tie subesqpvent rash a sactions in December 2013 described in parts (c) and (e). year policy purchased on April 1, 201 i. A count of the supplies on October 3I rovealed a balance reanaining of $t2) Proldem 3-VA Adjusting entries (arnuall LO4 nvimnstal Consuliants is just faishing its second year of operatinns. The coaponys a. Te was delrermined het Sl20: he er coing revenue had not yet hech b. Ie was discuverdat ishcce in tlhe Cumsnilting Revenue account was fot Required Prepare tle annual adjusting journal entries for Cetober 3L, 2117, based on the above. Problem 3-10A Posting, adjusted trial balance, and preparing financial statements LO6,7 CHECK FIGURES: 3, Arjusted tral balance, ccits S590,585 4. Loss $74.895 Required Using the infornation in Problem a-3%, cormplete the following 1. Set up balance column accounts for lainmaker Environmental Cousultants and enter the bal- madjusted Irial Ixlazo at Octateral,20k, otowa aiunaker prepares es mats ch enbe 3t. The foikawing aditional information is ava cin Ortober 31, 2017 services to be performad iz Nuvenber ances listed in the unadjusted trial balance. 2. Poet the adjusting entries prepared in Problem 3-94 to the accounts 3. Prepare an adjusted trial balance. 4 Use the adjusted trial balance to prepare an income statement, a statement of changes in equity, and E. The halance in the Phepeid Resr sceount zepresents tlree months of r ermber I, 201, d. Accrued wages at Octyber i totalli 6 a balance sheet Assume that the owner, Teff Moore, made no owner investments during the year. 208 209