i do not understand how to enter everything in the t charts, please complete part 1b
Anar Dar2017 Para para journal entre and the top de 10 Part to Port the adjusting journal entries to account www . wan RE 000 MIN 100 bercut HE 0 TO Otac T Vah W TO MORNARE WS TO Alle Wag Groom GLIDE De GEN L Ruanda 2680 pom DOO TO SHARES Car Daily Expres De Bee Bar Rape Experte wapate LA 2. The ADMATAN 000 000 190 1000 Date LA ULUS e GIL DO LOS DOO inte The Tree To henden 3000 227500 727.300 LEMOS 1.000 42,000 12.000 14.000 2,000 45,000 106,000 2,500 Alberto, Inc December 31, 2017 Unadjusted Trial balance Cash 42,000 Accounts Receivable 24,000 Allowance for Doubtful Accounts Short Term Note Receivable 50,000 Interest Receivable 0 Supplies 5,000 Prepaid Insurance 48.000 Inventory 12,000 Vehicle 16,000 Equipment 75,000 Accumulated Depreciation Accounts Payable Uneamed Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Eamings (1/1/2017) Dividends 2,000 Sales Sales Retums & Allowances 7,000 Sales Discounts 3,000 Cost of Goods Sold 46,000 Delivery Expense 5,000 Depreciation Expense 16.000 Bad Debt Expense 0 Rent Expense 98,000 Insurance Expense 25.000 Wages Expense 195,000 Supplies Expense 16,000 Interest Revenue 0 Loss on Disposal Interest Expense 6,500 36,000 Income Tax Expense 727,500 Total 503,000 0 727,500 Part 1a: Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names). 1. On Dec 31, 2017 merchandise was sold on account for $16,500 with a cost of $5,500 terms 3/10 net 30. Accounts receivable 110.500 Sales 16.500 COSE of Goods sold 5500 Inventory 5500 2. The company received a 6 month, 12% interest note short-term note for the amount listed on the unadjusted trial balance on Oct. 1. 2017. Al interest and principal will be paid back at the end of the 6 months. Write the adjusting journal entry required for its financial statements as of Dec. 31, 2017 Inichest receivable 150 Inicrest revenue 1500 3. Uncollectable Accounts Receivables of $1.600 need to be written off for the year ended 2017 Allowance For Doubtful KCCOLORS khoa ACCOUNTS receivable 1000 4. Management estimates that of the remaining accounts receivable balance. $2,000 will be uncollectible. Record the adjustment based on this information. Hint: Use the AFDA balance AFTER the above write off during 2017. Use an AFDA T-account! Bad Debt Expense Allowance for Diful Accounts 21000 5. A piece of equipment was retired on Dec 31, 2017. The equipment originally cost $34.000 and has related A/D of $24,000 as of Jan. 1. 2017. Additional depreciation of $3,000 needs to be recorded on this piece of equipment at Dec 31, 2017. Update the depreciation below (#5). Then record the retirement (#6) Depreciation Expense 3000 Accumulated depreciation 3000 6. Record the retirement of the equipment (from #5) including the gain or loss. Low on disposal 7000 Necumaid depreciation 27000 Equupment 34000 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L Anar Dar2017 Para para journal entre and the top de 10 Part to Port the adjusting journal entries to account www . wan RE 000 MIN 100 bercut HE 0 TO Otac T Vah W TO MORNARE WS TO Alle Wag Groom GLIDE De GEN L Ruanda 2680 pom DOO TO SHARES Car Daily Expres De Bee Bar Rape Experte wapate LA 2. The ADMATAN 000 000 190 1000 Date LA ULUS e GIL DO LOS DOO inte The Tree To henden 3000 227500 727.300 LEMOS 1.000 42,000 12.000 14.000 2,000 45,000 106,000 2,500 Alberto, Inc December 31, 2017 Unadjusted Trial balance Cash 42,000 Accounts Receivable 24,000 Allowance for Doubtful Accounts Short Term Note Receivable 50,000 Interest Receivable 0 Supplies 5,000 Prepaid Insurance 48.000 Inventory 12,000 Vehicle 16,000 Equipment 75,000 Accumulated Depreciation Accounts Payable Uneamed Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Eamings (1/1/2017) Dividends 2,000 Sales Sales Retums & Allowances 7,000 Sales Discounts 3,000 Cost of Goods Sold 46,000 Delivery Expense 5,000 Depreciation Expense 16.000 Bad Debt Expense 0 Rent Expense 98,000 Insurance Expense 25.000 Wages Expense 195,000 Supplies Expense 16,000 Interest Revenue 0 Loss on Disposal Interest Expense 6,500 36,000 Income Tax Expense 727,500 Total 503,000 0 727,500 Part 1a: Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names). 1. On Dec 31, 2017 merchandise was sold on account for $16,500 with a cost of $5,500 terms 3/10 net 30. Accounts receivable 110.500 Sales 16.500 COSE of Goods sold 5500 Inventory 5500 2. The company received a 6 month, 12% interest note short-term note for the amount listed on the unadjusted trial balance on Oct. 1. 2017. Al interest and principal will be paid back at the end of the 6 months. Write the adjusting journal entry required for its financial statements as of Dec. 31, 2017 Inichest receivable 150 Inicrest revenue 1500 3. Uncollectable Accounts Receivables of $1.600 need to be written off for the year ended 2017 Allowance For Doubtful KCCOLORS khoa ACCOUNTS receivable 1000 4. Management estimates that of the remaining accounts receivable balance. $2,000 will be uncollectible. Record the adjustment based on this information. Hint: Use the AFDA balance AFTER the above write off during 2017. Use an AFDA T-account! Bad Debt Expense Allowance for Diful Accounts 21000 5. A piece of equipment was retired on Dec 31, 2017. The equipment originally cost $34.000 and has related A/D of $24,000 as of Jan. 1. 2017. Additional depreciation of $3,000 needs to be recorded on this piece of equipment at Dec 31, 2017. Update the depreciation below (#5). Then record the retirement (#6) Depreciation Expense 3000 Accumulated depreciation 3000 6. Record the retirement of the equipment (from #5) including the gain or loss. Low on disposal 7000 Necumaid depreciation 27000 Equupment 34000 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L
