I have finished all the adjusting entries and am looking for someone to look them over and let me know if any are wrong and if so how to fix them. I would really appreciate feedback on this.

P.S: I have finished the balance sheet for this assignment and it is not balanced but I can't figure out what I did wrong on these adjusting entries that caused that to happen.

Below (in order)

Trial Balance

Adjusting Entries Information

Adjusting Entries

DeeDee Double Entry, Incorporated
End of Period Worksheet
For the Year Ended December 31, 2017
	Unadjusted				Adjusted
Account Title	Trial Balance		Adjustments		Trial Balance
	DR	CR	DR	CR	DR	CR
Cash	240,300	-		27,000	213,300
Restricted Cash			27,000		27,000
Accounts Receivable	925,000	-			925,000
Allowance for Doubtful Accounts	-	49,000	67,000		18,000
Interest Receivable	-		688		688
Merchandise Inventory	187,500	-	3,700		191,200
Prepaid Insurance	9,000	-		5,211	3,789
Prepaid Advertising	-	-	12,000		12,000
Prepaid Rent	-	-	7,500		7,500
Office Supplies	7,800	-		2,941	4,859
Note Receivable	75,000	-			75,000
Available for Sale Securities	380,000	-			380,000
Office Building	4,250,000	-			4,250,000
Accumulated Depreciation - Office Building	-	221,500		38,750		260,250
Storage Building	1,650,000	-			1,650,000
Accumulated Depreciation - Storage Building	-	-		46,667		46,667
Land	450,000	-			450,000
Leasehold Improvements	190,000	-	5,459		195,459
Accumulated Depreciation - Leasehold Improvements	-	-		728		728
Office Equipment	125,000	-			125,000
Accumulated Depreciation - Office Equipment	-	42,000		16,600		58,600
Patent	250,000	-			250,000
Accumulated Amortization				31,250		31,250
Accounts Payable	-	145,000				145,000
Sales Tax Payable	-	-		19,821		19,821
Salaries Payable	-	-		39,249		39,249
Payroll Taxes Payable	-	-		3,251		3,251
Interest Payable	-	-		127,750		127,750
Income Tax Payable	-	-		239,922		239,922
Unearned Rent Revenue	-	96,000	25,263			70,737
Loan Payable - Onstar Bank	-	500,000				500,000
Loan Payable - Coldstar Bank	-	2,250,000				2,250,000
Common Stock	-	425,000				425,000
Additional Paid in Capital	-	2,800,000				2,800,000
Retained Earnings	-	1,379,420				1,379,420
Accumulated Other Comprehensive Income	-	8,500				8,500
Dividends	280,000	-			280,000
Sales	-	4,380,250	34,821			4,345,429
Sales Returns and Allowances	19,500	-			19,500
Sales Discounts	14,600	-			14,600
Cost of Goods Sold	1,817,900	-		3,700	1,814,200
Amortization Expense			31,250		31,250
Sales Salaries Expense	676,400	-	25,500		701,900
Office Salaries Expense	434,000	-	17,000		451,000
Advertising Expense	54,000	-		12,000	42,000
Depreciation Expense - Office Building	-	-	38,750		38,750
Depreciation Expense - Storage Building			46,667		46,667
Depreciation Expense - Leasehold Improvements	-	-	728		728
Depreciation Expense - Office Equipment	-	-	16,600		16,600
Leasing Expense - Stores	132,000	-			132,000
Miscellaneous Selling Expense	16,950	-		5,459	11,491
Rent Expense - Storage Facility	18,000	-		7,500	10,500
Insurance Expense	2,000	-	5,211		7,211
Office Supplies Expense	28,500	-	2,941		31,441
Warranty Expense	5,000		5,709		10,709
Miscellaneous Administrative Expense	9,220	-			9,220
Rent Revenue	-	-		25,263		25,263
Interest Revenue on Note Receivable	-	-		688		688
Dividend Revenue on AFS Securities	-	18,000				18,000
Warranty Liability				5,709		5,709
Income Tax Expense			239,922		239,922
Interest Expense			127,750		127,750
Bad Debt Expense	67,000	-		82,000		15,000
	12,314,670	12,314,670	741,458	741,458	12,816,233	12,816,233

DeeDee Double Entry was authorized to issue 3,000,000 shares of $1 par Common Stock but has only issued 425,000 shares of common stock as of 12/31/2017. No new shares were issued during 2017.

DeeDee does banking at three different financial institutions. The details are as DeeDee Double Entry

Bank	Account #	Balance
Coterica	123456	175,000
Coterica	123457	(10,000)
4th Bank	345689	82,000
Bank Two	397567	(6,700)

a. You also note the Board of Directors has restricted $27,000 of cash for future expansion. This $27,000 is part of the cash balance. The future expansion will not occur for several more years.

b. Based on your inquiries, you note that $67,000 of accounts receivable had been written off during the year. The clerk had debited bad debt expense for $67,000 and credited Accounts Receivable for $67,000. When $15,000 of accounts previously written off had been collected, the accountant debited cash and credited sales. The company uses the allowance method based on the aging of accounts receivable. Based on this method, DeeDee determines that uncollectible accounts are $89,000 at the end of 2017. (Replace the X with the last digit of your student number).

c. Per a physical count of office supplies, $4,859 (enter the last two digits of your student number) of supplies remained at the end of 2017. The balance on the worksheet in the office supplies account represents last years ending balance. During the year, $28,500 of office supplies were purchased and immediately expensed.

d. Because of strong demand and a need for additional inventory, DeeDee needed some temporary additional storage space so on June 1, 2017 they rented a unit for an annual rate of $18,000 and they paid the entire amount up front.

e. On November 1st, 2017, (Enter your birthday month) DeeDee loaned a key supplier, $75,000. A promissory note was signed and issued. The agreed upon interest rate was 5.5% and the key supplier has agreed to pay interest and $15,000 of the principle each January 1^st. The note was recorded in Notes Receivable and is the only note outstanding.

f. On February 1, 2017, DeeDee renewed a 19 month insurance policy for $9,000. All cash was paid at the time the policy was signed and prepaid insurance was increased. (Replace the X with the last digit of your student number.) All other transactions involving insurance were properly recorded.

g. The office building was bought in January 1, 2015 by DeeDee and DeeDee originally planned to use the building for 40 years and estimated no salvage value. DeeDee depreciates the building on a straight line basis. Now in 2017, DeeDee estimates the total life to remain at 40 years, but believes the salvage will be $900,000. (Replace the X with the last digit of your student number.)

h. DeeDee is open seven days a week and has a daily payroll of $8500. Employees are paid every Friday, December 31 is a Wednesday. 40% of the payroll is for office employees, 60% of payroll is for sales employees. The employer portion of FICA expense is 7.65% and no employee has reached the maximum. DeeDee records payroll tax expenses in salary expense.

i. On December 1, 2017 DeeDee paid ABC Advertising $16,000 for a four month campaign of advertising services. Equal services are provided each month. All other advertising paid for during the year has been consumed.

j. On August 1, 2017, DeeDee rented a portion of one store to Marketing Majors Inc. The contract was for 19 (enter the last digit of your student number) months and DeeDee required all of the cash up front. The rent is being earned equally each month. This is the only item in which rent is being earned by the company.

k. As of 12/31/2017 the Available for Sale Securities have a fair value of $291,000 (enter the last digit of your student number in place of the X). Due to the market conditions, the company does not plan on selling the assets in 2017, but their intent is to sell at some point in time. You can ignore the tax effect on unrealized gains and losses. (Hint: Unrealized Gains and Losses are closed to Accumulated Other Comprehensive Income at the end of the year.)

l. DeeDee uses the DDB method to depreciate office equipment. No office equipment was added during 2017. It is estimated that the office equipment has a useful life of 10 years with a salvage value of $2,000. Prior depreciation was correctly calculated based on period of time held.

m. After reviewing details of sales, you note that the sales taxes collected on the last week of Decembers sales were included in sales revenue. Sales recorded the last week of December that included the sales tax of 12% (enter your birthday month plus 1) amounted to $185,000.

n. On November 1, 2017 (enter your birthday month), DeeDee recorded a patent in the amount of $250,000. The company paid outside legal fees of $120,000 to have the patent registered. The other $130,000 represents internal costs in developing the patent. The patent is good for 20 years, but the company estimates that the patent will have a useful life of 8 years with no residual value. No one knows what to do with this information so no amortization has been recorded for 2017. Amortization is straight line and the company depreciates using partial years for intangible assets.

o. The storage building was self-constructed this year by DeeDee. The Company had their initial expenditure of $700,000 on January 1. They paid an additional $500,000 on March 1^st , $300,000 on June 1^st, and then the final payment of $150,000 on August 1^st. when the building was completed and occupancy occurred. Payments to contractor were properly capitalized. The company has decided to use S/L method for depreciation. The storage building is estimated to have a life of 30 years and a savage value of $250,000. The company will take a full year of depreciation in year of acquisition.

p. You note that Leasehold Improvements have not been depreciated for this year. DeeDee started to lease some new retail space in 2017 and added shelving and fixtures to this leased space. Based on your review of invoices, the previous accountant capitalized the cost of fixtures but did not capitalize the shipping and installation costs of $5,459 ((enter the last three digits of your student number in place of the XXX). . These costs were expensed and recorded as a miscellaneous administrative expense. DeeDee has decided to use double declining balance (DDB) depreciation for this item and to take a full year of depreciation in the year of acquisition. The leasehold improvements have a useful life of 15 years with a salvage value of $10,000.

q. DeeDee Double Entry has two loans outstanding as of 12/31/2017. Interest is paid annually on January 1st. The facts on each loan are as follows: Onstar Bank Loan outstanding since January 1, 2017 with a 3.5% interest rate. This loan was taken out to finance the construction of the Storage Building. Interest for the year and 15% of the principle will be paid to the bank on January 1, 2018. Except for recording the initial cash received and loan, no additional entries have been made. Coldstar Bank Loan also outstanding all of 2017 with a 4.9 % interest rate (enter the last digit of your student number). Interest is due on January 1, 2018. Principle is due on January 1, 2023. Since interest will not be paid to the Bank until 2018, DeeDees office staff did not accrue any interest.

r. DeeDee added a one-year warranty to one of its computer games this year. It is estimated that the total cost of servicing the warranties on the 2017 sales will be $10,459 (enter the last three digits of your student number). During 2017, $4,750 was refunded to customers for warranty issues on 2017 sales and recorded as warranty expense.

s. DeeDee uses the FIFO Inventory Method in valuing inventory. The inventory balance of $187,500 was based on a physical count at 12/31/2017. Based on your analysis, you have noted that $12,500 of marketing games that belonged to Marketing Majors Inc. was included in the account. You also note that goods were in transit from a vendor on December 31, 2017. The cost of the inventory was $16,200 and the goods were shipped f.o.b. shipping point on December 29, 2017.

DeeDee Double Entry, Incorporated
Adjusting Journal Entries
For the Year Ended December 31, 2017
Item	Account Title	Dr.	Cr.
a.	Restricted Cash	27,000
	Cash		27,000
b.	Allowance for Doubtful Accounts	67,000
	Bad Debt Expense		67,000
	Sales	15,000
	Bad Debt Expense		15,000
c.	Office Supplies Expense	2941
	Office Supplies		2941
d.	Prepaid Rent	7500
	Rent Expense - Storage Facility		7500
e.	Interest Receivable	688
	Interest Revenue on Note Receivable		688
f.	Insurance Expense	5211
	Prepaid Insurance		5211
g.	Depreciation Expense - Office Building	38750
	Accumulated Depreciation - Office Building		38750
h.	Office Salaries Expense	17000
	Sales Salaries Expense	25500
	Salaries Payable		39249
	Payroll Taxes Payable		3251
i.	Prepaid Advertising	12000
	Advertising Expense		12000
j.	Unearned Rent Revenue	25263
	Rent Revenue		25263
k.	Accumulated Other Comprehensive Income	89000
	Available for Sale Securities		89000
l.	Depreciation Expense - Office Equipment	16600
	Accumulated Depreciation - Office Equipment		16600
m.	Sales	19821
	Sales Tax Payable		19821
n.	Amortization Expense	31250
	Accumulated Amortization		31250
o.	Depreciation Expense - Storage Building	46667
	Accumulated Depreciation - Storage Building		46667
p.	Leasehold Improvements	5459
	Miscellaneous Selling Expense		5459
	Depreciation Expense - Leasehold Improvements	728
	Accumulated Depreciation - Leasehold Improvements		728
q.	Interest Expense	17500
	Interest Payable		17500
	Interest Expense	110250
	Interest Payable		110250
r.	Warranty Expense	5709
	Warranty Liability		5709
s.	Merchandise Inventory	3700
	Cost of Goods Sold		3700