I Account classification Increases on the side Account Permanent Debit Credit Accounts Ejemplo Cash Dharma, Capital Account type Active Current Temporary X Rent Revenue Depreciation Expense Of Equip Income summary Account Receivable Accumulated Depreciation Salaries Expense Equipment Dharma, Drawing Mortgage Payable unearned Rent Fees Earned Office Supplies Expense Note Payable Due 2025 Prepaid Expense Types of accounts Current Assets-Fixed Assets-Against Assets-Current Liabilities-Long term liabilities Current Assets-Plant Assets-Contra Assets Current liabilities-Long term liabilities Capital-Against Capital-Income from operations-other income operational expenses, other expenses Capital -vs Capital - Operation Revenue. Other, Operation Expense, other Expense II Related issue of Classification and adjusting entries. Required: All the information is in the next pages 1. Sort settings types of settings 1. Deferred Expense 2.Deferred Income 3. Accumulati of expense 4. Accumulation of income 5. Depreciation 1. Prepaid Expense 2.Unearned Revenue 3.Accrued Expense 4. Acrrued Revenue 5. Depreciation 2 Prepare settings in the "Journal" (Adjusting Entries) 3 Complete the worksheet (Work Sheet) 1 Related problem of classification and adjusting entries (Adjusting Entries) Antilles Services Work Sheet December 31 2015 Uradjusted Triall| Adjustments Adjusted Trial Balance Accounts Debit Credit Debit Credit Debit Credit Cash 16 Account Receivable 32 Supplies 6 Prepaid Insurance 8 Land 58 Equipment 20 accum dep-Equip 4 Acccounts Payable 10 Wages Payable 1 Unearned Fees 13 I am insurance capital 80 I am insurance drawing 6 Fees Earned 63 Wages Expenses 10 Rent Expenses 9 Insurances Expenses 0 Utilities Expenses 3 Depreciation Expenses 0 Supplies Expenses 0 Miscellaneous Expenses 3 total 171 171 Debit credit date description Adjusting entries The data for the year and adjustments are as follows a. Fees earned but not get $8 b. Depreciation of equipe $2 C. Supplies on hand $1 d. Wages accrued, but no $6 e. Insurance Expired $5 f. Unearned fees on December $3 Adjustment classification 1 2 3 4 5 6 MI Using the adjusted trial balance of insurance services as of December 31, 2016 Prepare closing entries (closing entries) and financial statements 1 Income State 2 Statement of Owner Equity 3. Balance Sheet Insurance Services Adjusted Trial Balance December. 31 2016 Credit Debit 16 40 3 6 58 20 Accounts Cash Account Receivable Supplies Prepaid Insurance Land Equipment accum dep-Equip Acccounts Payable Wages Payable Unearned Fees I am insurance Capital I am insurance Drawing Fees Earned Wages Expenses Rent Expenses Insurances Expenses Utilities Expenses Depreciation Expenses Supplies Expenses Miscellaneous Expenses total 8 10 3 10 80 6 74 12 11 2 3 4 1 3 185 185 General Journal Date description Debit closing entries Credit 1 2 2 3 41 5 6 71 8 9 LO 1 2 3 4 5 -6) Income Statement 1 2 3 6 NOUAWN 6 7 8 9 10 11 12 1 13 14 15 Satement of Owner Equty 1 Nm 4 5