Help with Adjusting entries please!

and calculating the totals that would be in the entry.

I'd also like the account numbers to be verified please, if that's not too much. I appreciate the help!

the numbers are taken off to avoid confusion of account numbers, and I'm not sure I did the math right

the

LOG:

Transactions

Description

Mrs. Brittany met with her lawyer and CPA for advice on starting the

business. The lawyer told Mrs. Brittany to register the company name

"Fashion With a Passion, Inc." with the state of Florida. In addition, Mrs. Brittany will

get an Employer ldentification Number (EIN) from the lnternal Revenue

Service (IRS) and get a sales tax permit.

Mrs. Brittany opened a business checking account at Wells Fargo Bank by

depositing $50,000. The corporation issued her a stock certificate for 5,000

shares of common stock.

Mrs. Brittnany signed a one-year rental agreement with Shimmer Sunset. She

was required to pay $8,000 for rent for the months of January 1, 2022

April 31, 2022.

Arranged for a general business liability insurance policy and paid $3,000

to The All Reliable Insurance. This is for twelve months coverage.

Purchased a new computer system that cost $4,500 from Computer Inc.

for use in the business. Mrs. Brittany signed a note payable for the cost of the

system which will be repaid in 12 months at 10% interest. The computer

system has an estimated useful life of five years, and the residual (salvage)

value is $400.

She signed a note payable to borrow $8,000 from Wells Fargo Bank. Interest is

12% annually and the note is to be repaid with interest in twelve months.

*Only record the note. The interest will be recorded as an adjusting entry at

the end of the month.*

Paid $700 for shipping supplies.

Paid $12,000 for Furniture and Fixtures. The estimated service life of these

assets is 7 years. The residual (salvage) value is $200. These items will be

recorded as Furniture and Fixtures and depreciated using straight-line

depreciation in the adjusting entries.

*Only record the purchase of the

Furniture and Fixtures here.*

Arranged for Move North to make the delivery of the computer system and

paid the delivery charge of $600. This charge should be added to the cost

of the computer equipment purchased and depreciated on the same basis

as the computer equipment. Only record the delivery.

Purchased $500 of office supplies from Office Supplies Co. using cash.

Purchased $6,000 of merchandise inventory (shoes) on account.

Purchased $4,000 of merchandise inventory (purses) on account. There

were no credit terms for prompt payment.

Mrs. Brittany received and paid the $800 charge from her lawyer.

Fashion With a Passion, Inc. is now open for business.

Sold merchandise for $5,000 cash. The sales tax for $412.50 was not

included in the sale amount. The cost of the purses is $900; the cost of the

shoes is $2,000. This sale has to be delivered to the customer. The

merchandise will be shipped FOB destination.

Paid $100 to ship the merchandise in transaction #15.

Purchased additional Shoes on account for $3,000.

Recorded sales on account that totaled $7,500. The cost of merchandise

sold was $3,000 (shoes were $2,000; purses $1,000). Sales tax was

$618.75.

Mrs. Brittany joined the Florida Chamber of Commerce. She paid the

registration fee of $100.

Paid for the $6,000 shoes purchased on 09/08/2022.

Mrs. Brittany participated in a fashion expo held at the convention center.

She felt this was a good way to publicize her new business.

Convention Center charged Mrs. Brittany $500. She will pay the bill later. She

considers this an advertising and promotion expense.

Mrs. Brittany paid the Convention Center rental.

Paid for the purses purchased on 9/09/2022.

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Mrs. Brittany recorded cash sales totaling $7,000. Sales tax of $577.50 was

not included in the sale amount. The cost of the merchandise sold was

$4,000 shoes $2,500 and purses $1,500).

Paid the balance due for the shoes.

Paid the first monthly installment on the computer equipment. The

payment amount is $412.50. Of this amount, $37.50 is for interest and

$375 is for principal.

Received but did not pay the utility bill for the month, $350.

Recorded sales made for the last week of the month. Total sales were

$4,500 cash. Sales tax of $371.25 was not included in the sale. The cost of

the merchandise sold was $1,700 (shoes $1,500; purses $200).

Declared and paid a cash dividend of $500 to Mrs. Brittany.

Paid the Sales Tax to the Comptroller.

Record Adjusting Entries: Record the following month-end adjusting entries for the month of January. Write the journal entries in the practice sel after the original journal entries. Round all answers to the nearest cent. a. $70 of office supplies remained on hand. b. $200 of shipping supplies remained on hand. c. $1,300 of wages for the part-time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services inc. will handie these. d. Make the necessary adjusting entries for one month's depreciation for the Computer Equipment using Straight-Line Depreciation. e. Make the necessary adjusting entry for one month's depreciation for the Bike Racks using Straight-Line Depreciation. f. One month of the prepaid insurance has expired. 9. One month of the prepaid rent has expired. h. Record the interest for the loan from Wells Fargo for one month. Make sure you prepare the journal entries and the adjusting entries and write them in the practice set. aa2R6900$bDR61000$CDR61300$1DDR61100$EDR61100$FDR60600$GDR61200$6R000CR13000$13050$1CR23200$CR17000$CR17100CR14050 Chart of Accounts