I can't seem to get the correct calculations for the Adjusting Journal entries. Any suggestions?

You will use the Adjusting Entries tab in your workbook to complete the following entries. See sample for Depreciation of Baking Equipment. Take the adjusting entries from this worksheet and enter them into the trial balance on the Steps 5 and 7 Trial Balance.

On September 30, the following adjustments must be made:

Depreciation of baking equipment transferred to company on 7/13. Assume month depreciation in July using straight line method.

*this is what I have for depreciation expense: $458.33

Accrue interest for note payable. Assume a full month of interest for July. (6% annual interest on $10,000 loan from parents.

Record insurance used for the year.

Actual baking supplies on-hand as of Sept 30^th is $1100.

Misc supplies on-hand as of Sept 30^th is $50

Peyton Approved
Adjusting Journal Entries
2014
Date	Accounts	Debit	Credit