I need SERIOUS help with my accounting final. I have to post the adjusted trial balance. The question and previous answer are in one picture, the work I've done so far on the adjusted trial balance is in the other. As you can see, it does not balance... not good. Help please!!!
Question 1 of 1 ... / 100 View Policies Current Attempt in Progress Karen Noonan opened Splish Brothers Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 Issued 4,400 shares of Splish Brothers Cleaning Services common stock for $11.440. Each share has a $1.50 par. 1 Borrowed $7,040 on a 2-year, 6% note payable. 1 Paid $7,940 to purchase used floor and window cleaning equipment from a company going out of business ($4,240 was for the floor equipment and $3,700 for the window equipment). 1 Paid $190 for February Internet and phone services. 3 Purchased cleaning supplies for $860 on account. 4 Hired 4 employees. Each will be paid $420 per 5-day work week (Monday-Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $8,660 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,165 cash for the first quarter of coverage. 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3,480 cash. 16 Billed customers $3,430 for cleaning services performed through February 13, 2022. 17 Received $468 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance, this customer received 10% off the normal weekly fee of $130.) 18 20 Paid $260 on amount owed on cleaning supplies. Paid $3 per share to buy 260 shares of Splish Brothers Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $3,780 for cleaning services performed through February 20. 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,200 cash from customers billed on February 16. 27 Paid $190 for Internet and phone services for March. 28 Declared and paid a cash dividend of $0.30 per share. (a) SPLISH BROTHERS CLEANING SERVICES INC. Trial Balance 2/28/22 Debit Credit Cash $ 8,501 $ Accounts Receivable 8,105 Allowance for Doubtful Accounts 65 Supplies 350 Prepaid Expenses 190 Prepaid Insurance 722 Equipment 4,240 Accumulated Depreciation Equipment 79 Accounts Payable 600 Salaries and Wages Payable 1,680 Unearned Service Revenue 351 Paid-in Capital in Excess of Par Value-Common Stock 4,840 Interest Payable 35 Income Taxes Payable 689 Notes Payable 7,040 Common Stock 6,600 Treasury Stock 780 Cash Dividends 1.242 Service Revenue 10,640 Insurance Expense 1,443 Loss on Disposal of Plant Assets 220 Utilities Expense 190 Salaries and Wages Expense 5,040 Bad Debt Expense 180 Depreciation Expense 79 Supplies Expense 510 Interest Expense 35 Income Tax Expense 689 Total $ 32,516 $ 32,619 Question 1 of 1 1 1 > ... / 100 Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to decimal places, eg. 1.527.) 1. Services performed for customers through February 27, 2022, but unbilled and uncollected were $3,340. 2. 3. 4. Received notice that a customer who was billed $180 for services performed February 10 has filed for bankruptcy. Splish Brothers Cleaning Services does not expect to collect any portion of this outstanding receivable. Splish Brothers Cleaning Services uses the allowance method to estimate bad debts. Splish Brothers Cleaning Services es of its month-end receivables will not be collected. . Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $440 salvage value. Record 1 month of insurance expense. 1 An inventory count shows $350 of supplies on hand at February 28. $, One week of services were performed for the customer who paid in advance on February 17. Accrue for wages owed through February 28, 2022. 5. 6. 7. 8. 9. 9 10. Accrue for interest expense for 1 month, Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before a % . : taxes to help with the income tax calculation.) " No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 3.340 Service Revenue 3,340 2. Bad Debt Expense 180 Allowance for Doubtful Accounts 180 3 Allowance for Doubtful Accounts 245 Accounts Receivable 245 4. Depreciation Expense 79 Accumulated Depreciation Equipment 79 5. Insurance Expense 722 Prepaid Insurance 722 6. Supplies Expense 510 Supplies 510 7. Unearned Service Revenue 117 Service Revenue 117 8. Salaries and Wages Expense 1680 Salaries and Wages Payable 1680 9. Interest Expense 35 Interest Payable 35 10. Income Tax Expense 689 Question 1 of 1 ... / 100 View Policies Current Attempt in Progress Karen Noonan opened Splish Brothers Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 Issued 4,400 shares of Splish Brothers Cleaning Services common stock for $11.440. Each share has a $1.50 par. 1 Borrowed $7,040 on a 2-year, 6% note payable. 1 Paid $7,940 to purchase used floor and window cleaning equipment from a company going out of business ($4,240 was for the floor equipment and $3,700 for the window equipment). 1 Paid $190 for February Internet and phone services. 3 Purchased cleaning supplies for $860 on account. 4 Hired 4 employees. Each will be paid $420 per 5-day work week (Monday-Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $8,660 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,165 cash for the first quarter of coverage. 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3,480 cash. 16 Billed customers $3,430 for cleaning services performed through February 13, 2022. 17 Received $468 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance, this customer received 10% off the normal weekly fee of $130.) 18 20 Paid $260 on amount owed on cleaning supplies. Paid $3 per share to buy 260 shares of Splish Brothers Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $3,780 for cleaning services performed through February 20. 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,200 cash from customers billed on February 16. 27 Paid $190 for Internet and phone services for March. 28 Declared and paid a cash dividend of $0.30 per share. (a) SPLISH BROTHERS CLEANING SERVICES INC. Trial Balance 2/28/22 Debit Credit Cash $ 8,501 $ Accounts Receivable 8,105 Allowance for Doubtful Accounts 65 Supplies 350 Prepaid Expenses 190 Prepaid Insurance 722 Equipment 4,240 Accumulated Depreciation Equipment 79 Accounts Payable 600 Salaries and Wages Payable 1,680 Unearned Service Revenue 351 Paid-in Capital in Excess of Par Value-Common Stock 4,840 Interest Payable 35 Income Taxes Payable 689 Notes Payable 7,040 Common Stock 6,600 Treasury Stock 780 Cash Dividends 1.242 Service Revenue 10,640 Insurance Expense 1,443 Loss on Disposal of Plant Assets 220 Utilities Expense 190 Salaries and Wages Expense 5,040 Bad Debt Expense 180 Depreciation Expense 79 Supplies Expense 510 Interest Expense 35 Income Tax Expense 689 Total $ 32,516 $ 32,619 Question 1 of 1 1 1 > ... / 100 Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to decimal places, eg. 1.527.) 1. Services performed for customers through February 27, 2022, but unbilled and uncollected were $3,340. 2. 3. 4. Received notice that a customer who was billed $180 for services performed February 10 has filed for bankruptcy. Splish Brothers Cleaning Services does not expect to collect any portion of this outstanding receivable. Splish Brothers Cleaning Services uses the allowance method to estimate bad debts. Splish Brothers Cleaning Services es of its month-end receivables will not be collected. . Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $440 salvage value. Record 1 month of insurance expense. 1 An inventory count shows $350 of supplies on hand at February 28. $, One week of services were performed for the customer who paid in advance on February 17. Accrue for wages owed through February 28, 2022. 5. 6. 7. 8. 9. 9 10. Accrue for interest expense for 1 month, Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before a % . : taxes to help with the income tax calculation.) " No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 3.340 Service Revenue 3,340 2. Bad Debt Expense 180 Allowance for Doubtful Accounts 180 3 Allowance for Doubtful Accounts 245 Accounts Receivable 245 4. Depreciation Expense 79 Accumulated Depreciation Equipment 79 5. Insurance Expense 722 Prepaid Insurance 722 6. Supplies Expense 510 Supplies 510 7. Unearned Service Revenue 117 Service Revenue 117 8. Salaries and Wages Expense 1680 Salaries and Wages Payable 1680 9. Interest Expense 35 Interest Payable 35 10. Income Tax Expense 689
