I really need help with this accounting assignment, if you could really help me out I would be so grateful. need it by tonight 11pm

Question 1 On January 1st, Great Designs Company had a debit balance of $1,450 in the Office Supplies account. During the month, Great Designs purchased $115 and $160 of office supplies and journalized them to the Office Supplies asset account upon purchasing. On January 31st, an inspection of the office supplies cabinet shows that only $350 of Office Supplies remains in the locker. Prepare the January 31st adjusting entry for Office Supplies. Question 2 A business pays biweekly salaries of $20,000 every other Friday for a tenday period ending on that day. The adjusting entry necessary at the end of the fiscal period ending on the second Wednesday of the pay period includes a: Select one: a. debit to Salary Expense of $8,000. b. debit to Salary Payable of $8,000 c. credit to Salary Expense of $16,000 d. credit to Salary Payable of $16,000 Question 3 A company purchases a oneyear insurance policy on June 1 for $2,760. The adjusting entry on December 31 is Select one: a. debit Insurance Expense, $1,380 and credit Prepaid Insurance, $1,380. b. debit Insurance Expense, $1,150 and credit Prepaid Insurance, $1,150. c. debit Insurance Expense, $1,610, and credit Prepaid Insurance, $1,610. d. debit Prepaid Insurance, $1,380, and credit Cash, $1,380. Question 4 The balance in the office supplies account on June 1 was $7,500, supplies purchased during June were $3,100, and the supplies on hand at June 30 were $2,300. The amount to be used for the appropriate adjusting entry is Select one: a. $2,100 b. $12,900 c. $6,700 d. $8,300 Question 5 The net income reported on the income statement is $58,000. However, adjusting entries have not been made at the end of the period for supplies expense of $2,200 and accrued salaries of $1,300. Net income, as corrected, is Select one: a. $56,700 b. $58,000 c. $55,800 d. $54,500 Question 6 The supplies account has a balance of $2,100 at the beginning of the year and was debited during the year for $2,300, representing the total of supplies purchased during the year. If $400 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is Select one: a. $400 b. $200 c. $4,800 d. $4,000 Question 7 The unearned rent account has a balance of $72,000. If $18,000 of the $72,000 is unearned at the end of the accounting period, the amount of the adjusting entry is Select one: a. $18,000 b. $90,000 c. $54,000 d. $36,000 Question 8 Beachside Realty rents condominiums and furnishings. It's adjusted trial balance at December 31, 2011, is as follows: Debit Balances Cash 1,500 Accounts Receivable 2,000 Interest Receivable 100 Prepaid Insurance 1,600 Notes Receivable (long-term) 2,800 Equipment Credit Balances 15,000 Accumulated Depreciation 1,500 Accounts Payable 1,400 Accrued Expenses Payable 2,920 Income Taxes Payable 1,700 Unearned Rental Fees 500 Capital Stock 3,000 Retained Earnings Dividends 5,200 2,000 Rental Fees Earned 41,000 Furniture Rental Revenue 1,200 Interest Revenue Wages Expense Depreciation Expense 100 19,000 1,800 Utilities Expense 320 Insurance Expense 700 Maintenance Expense 9,000 Income Tax Expense 2,700 58,520 58,520 Prepare the entry required to close the revenue accounts at the end of the period. Question 9 Indicate whether each of the following would be reported in the financial statements as a(n) (a) current asset, (b) current liability, (c) revenue, or (d) expense: (1) Supplies (5) Supplies Expense (2) Unearned Fees (6) Prepaid Insurance (3) Prepaid Advertising (7) Accounts Payable (4) Advertising Expense (8) Fees Earned Question 10 The following are all the steps in the accounting cycle. List them in the order in which they should be done. Closing entries are journalized and posted to the ledger. An unadjusted trial balance is prepared. An optional endofperiod spreadsheet (work sheet) is prepared. A postclosing trial balance is prepared. Adjusting entries are journalized and posted to the ledger. Transactions are analyzed and recorded in the journal. Adjustment data are assembled and analyzed. Financial statements are prepared. An adjusted trial balance is prepared. Transactions are posted to the ledger. Question 11 Amir Designs purchased a oneyear liability insurance policy on March 1st of this year for $7,200 and recorded it as a prepaid expense. Which of the following amounts would be recorded for insurance expense during the adjusting process at the end of Amir's first month of operations on March 31st? Select one: a. $7,200 b. $720 c. $600 d. $6,600 Question 12 Bob Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted trial balance at December 31, 2014. Debit Cash Accounts receivable $ 1,500 2,000 Interest receivable 100 Prepaid insurance 1,600 Notes receivable (long-term) 2,800 Credit Equipment 15,000 Accumulated depreciation $3,000 Accounts payable 2,400 Accrued expenses payable 3,920 Income taxes payable 2,700 Unearned rental fees 500 Capital Stock 2,700 Retained Earnings 5,000 Dividends 2,000 Rental fees earned 37,000 Furniture rental revenue 1,200 Interest revenue 100 Wages expense 19,000 Depreciation expense 1,800 Utilities expense 320 Insurance expense 700 Maintenance expense 9,000 Income tax expense 2,700 $58,520 $58,520 The entry required to close the revenue accounts at the end of the period includes a: Select one: a. debit to Income Summary for $37,000 b. credit to Income Summary for $38,300 c. debit to Income Summary for $38,200 d. credit to Income Summary for $37,000 Question 13 Prepaid insurance is reported on the balance sheet as a Select one: a. current asset b. fixed asset c. current liability d. longterm liability Question 14 Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow. Stockton Company Adjusted Trial Balance For the Year Ended December 31, 20XX Cash Accounts Receivable $ 6,530 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation $ 1,100 Accounts Payable 1,900 Notes Payable 4,300 Capital Stock 2,000 Retained Earnings 10,940 Dividends 790 Fees Earned 9,250 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals $29,490 Determine total assets. Select one: a. $24,130 b. $15,830 c. $21,930 d. $23,030 Question 15 Use the work sheet for Finley Company to answer the questions that follow. $29,490 Finley Company Work Sheet For the Year Ended December 31, 2014 Adjusted Trial Balance Account Title Debit Credit Income Statement Debit Credit Balance Sheet Debit Cash 48,000 48,000 Accounts Receivable 18,000 18,000 6,000 6,000 57,000 57,000 Supplies Equipment Credit Accum. Depr. - Equip. 18,000 18,000 Accounts Payable 25,000 25,000 Wages Payable 6,000 6,000 Capital Stock 5,000 5,000 28,000 28,000 Retained Earnings Dividends 3,000 Fees Earned 3,000 155,000 155,00 0 Wages Expense 63,000 63,000 Rent Expense 27,000 27,000 Depreciation Expense 15,000 15,000 Totals Net Income (Loss) 237,000 237,000 105,00 0 155,00 0 132,000 50,000 155,00 0 82,000 50,000 155,00 0 132,000 132,000 The journal entry to close revenues would be Select one: a. debit Income Summary, $155,000; credit Fees Earned, $155,000 b. debit Retained Earnings, $155,000; credit Fees Earned, $155,000 c. debit Fees Earned, $155,000; credit Income Summary, $155,000 d. credit Fees Earned, $155,000; credit Retained Earnings, $155,000 Next