How can i create a adjusted trial balance with the following information?
Fleming, Inc. began business operations on January 1, 2019. Fleming's annual reporting period ends December 31. Some events have already occurred and have been recorded; these are reflected in the beginning balances shown on the basic accounting equation grid. Analyze the following additional events during 2019 and complete the requirements on the following pages. Events: a) Paid an accounts payable balance of $5,500. b) Purchased $21,000 of equipment for use in the business, signed a promissory note to pay the supplier in 6 months. c) Earned $88,000 in service revenues for 2019, collecting $40,000 in cash and the rest on credit. d) Purchased $3,400 supplies on account for future use. e) On July 1, paid $18,000 to rent a building for the rest of 2019 and the first half of 2020. f) Customer paid $5,400 in advance for future services. g) Collected accounts receivable, $9,600. h) Declared and paid a $15,000 cash dividend. Data for adjusting entries: i) Wages of $5,600 earned by employees since the December 24 payroll were not yet paid. j) Determined after a year-end count that $6,800 of supplies had been used during the year. k) Fleming provided $4,500 in service that had been prepaid in transaction (f). 1) During December, Fleming provided $6,700 in service on account that was not recorded earlier. m) Depreciation for the year on the equipment was $5,900. n) Accrued $2,300 interest on an outstanding loan (promissory note). o) Building rental expenses for the year, paid in transaction (e), had not yet been recorded. p) Income tax for the year was $39,400. It will be paid in 2020. Liabilities Equity Accounts Receive Prepaid Services Supplies on hand) toipment Accounts Accum Deprec Common Unearned Revenue Payable Notes Payable Retained Stock Unadjusted journal entries, use the appropriate expenses 5600 5500) (6800) ( 4.500 6700 Page 6 of 12 1 - ES 16360) 4500 6700 (5 400) 2300) (5900) 510) (2300) (18,000 Oper (18,000) (Oper Subtotals 18,600 6700 (39 400) (6800) 1159001 - 4500) 5600 (48800 176000 Closing Period End - 24000 Check 700 Acct 2400 Project 1 - Accounting Cycle 5) Record items i) - p) in journal entries in the spaces provided below. Note: Only one column was provided for Expenses in the grid due, but in the journal entries, you must use the appropriate expense account names from the Unadjusted Trial Balance Item i) Wages of $5,600 earned by employees since the December 24 payroll were not yet paid. Basic Acct El Account Names Debits Credits Impacts Wages Expense 5600 Wage Payable 5600 Impact 2 Item)) Determined after a year-end count that $6,800 of supplies had been used during the year. Basic Acct Eq Account Names Debits Impacts Credits Supplies Expenie 6800 Supplies 6800 Item k) Fleming provided $4,500 in service that had been prepaid in transaction (f). Basic Acct EQ Account Names Debits Credits Impacts L- Unearned Senee Revenue Ysou t I Service Revenue 4500 Item 1) During December, Fleming provided $6,700 in service on account that was not recorded earlier. Basic Acct Eq Account Names Debits Credits Impacts Accounts Recieraber 6700 Service Revenue 16700 Credits Item m) Depreciation for the year on the equipment was $5,900. Basic Acct Eq Account Names Debits Impacts | Depreciation Expense 5900 I- Accumulated Depreciation Machine 15900 HCL 24UU Project 1 - Accounting Cycle Item n) Accrued $2,300 interest on an outstanding loan (promissory note). Basic Acct Eq Account Names Debits Impacts Credits I Intered Expense 230u. Lt Interest Davable 2300 F- Item o) Building rental expenses for the year, paid in transaction (e), had not yet been recorded. Basic Acct Eq| Impacts Account Names Debits Credits E- Rent Expenze pence 9000 A - Prepaid Rent aooo Credits Item p) Income tax for the year was $39,400. It will be paid in 2020. Basic Acct Eq| Account Names Debits Impacts E- Income Tax Expenze 39400 Income Tax Payable 3940d Projed ning loan (promissory Credits Acct 2400 Project 1 - Accounting Cycle b) Prepare an Adjusted Trial Balance 0 FLEMING, INC. Adjusted Trial Balance As of December 31, 2019 Credit Cash Debit -18000 670 0 78,000 - 6800 -5900 -4500 5 600 Accounts Receivable Prepaid Expenses Supplies (on hand) Equipment Accumulated Depreciation (Equipment) Accounts Payable Unearned Revenue Notes Payable Contributed Capital Retained Earnings Dividends Declared Service Revenue Depreciation Expense Interest Expense Rent Expenses Supplies Expenses Wage Expense Income Tax Expense ly 8rool -9..100 Total -53600 Page 9 of 12
