Im having some trouble getting my debit and credit to match up some help will be greatly appreciative, I have no clue what im doing wrong.
Insert image of your assigned unadjusted Trial Balanc Emmett Company, Inc. December 31, 2017 Unadjusted Trial balance Cash 45.000 30,000 Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable 1000 80,000 Interest Receivable Supplies Prepaid Insurance Inventory 5,000 40,000 12,000 Vehicle 16,000 75,000 Equipment Accumulated Depreciation Accounts Payable 42,000 18,000 Unearned Revenue 18,000 Wages Payable Long-Term Notes Payable Common Stock 7,000 65,000 106,000 Retained Earnings (1/1/2017) 2,500 3,000 Dividends Sales 511,000 Sales Returns & Allowances Sales Discounts 7,000 3,000 45,500 2,000 16,000 Cost of Goods Sold Delivery Expense Depreciation Expense Bad Debt Expense Rent Expense Insurance Expense Wages Expense upplies Expense Interest Revenue Loss on Disposal Interest Expense Income Tax Expense Total 98,000 40,000 195,000 15,500 6,500 36,000 770,500 770,500 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED T 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. Arcunts Pecuevable Sales Cos of Guocts Lavien tory esUb S.Sw Sold 2. The company issued a 6 month, 12 % interest note short-term note for the amount listed on the unadjusted trial balance on Oct. 1, 2017. All 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. o,Uw x127.x 311a- 2, U rakerest Tnterest evenae Recvevald 2Hur Uncollectable Accounts Receivables of $1,600 need to be written off for the year ended 2017. od Dept exp Accunts ecevalde LLocs 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-accountl 1o - JU t 2,ns-20u Bat Delot Expense Allowante for ckul Accaunt Q low a, loas 5. A piece of equipment 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 ) . was retired on Dec. 31, 2017. The equipment originally cost $34,000 and has Depreciatun Expne Acwmulated Deprciaten 3,uw 3,w 6. Record the retirement of the equipment (from # 5 ) including the gain or loss. Accumulatel Dene cadtn DIspisal Loss Cn Lauipmaunt 34 as ALL DAGEe OF TUIC DOCUMA Credit nce 40. oOCUMENT MUST BEU Credit Debit 45Q 449W Cash Accounts Receivable Allowance for Doubtful Accounts Alew SUDOD Short Term Note Receivable Interest Receivable Supplies Prepaid Insurance Inventory Lesu Vehicle Equipment Accumulated Depreciation Accounts Payable Yano Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2017) Dividends Sales ales Returns & Allowances ales Discounts ost of Goods Sold elivery Expense epreciation Expense d Debt Expense nt Expense urance Expense ges Expense plies Expense rest Revenue on Disposal est Expense me Tax Expense $1, awo 1quD Dr. 42cD 0 IS, SW elosw 71O00 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L
