Information for adjustments is as follows: a. As of December 31, employees had earned $1,500 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1875 of salaries will be paid. b. The cost of supplies still available at December 31 is $1.900. C. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $1075. The next interest payment, at an amount of $1.290, is due on January 15. d. Analysis of the unearned member fees account shows $2,800 remaining unearned at December 31 e. In addition to the member fees included in the revenue account balance, the company has earned another $11.800 in unrecorded fees that will be collected on January 31. The company is also expected to collect $12,000 on that same day for new fees earned in January Depreciation expense for the year is $22.400 Prepare the required adjusting entries and closing entries for Business Mastery. View transaction list Journal entry worksheet 2 9 3 10 Analysis of the unearned member fees account shows $2,800 remaining uneamed at December 31. Record the required adjusting entry, if any. Note: Enter debits before credits Account Title Debit Credit Date Dec 31 Record entry Clear entry View general journal General Ledger > Record the entry to close the expense account(s). Note: Enter debits before credits. Account Title Debit Credit Date Dec 31 Record entry Clear entry View general Journal Ceneral Ledger > Use ure urup-uuws U DECE ETC ALLU properly WiveU UN Le Dime Salement. Me Uld) or post-closing balances will appear for each account, based on your selection. Unadjusted BUSINESS MASTERY Income Statement For Year Ended December 31 Revenues: Expenses: OUVI CAPITE TU VIC C V . Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted BUSINESS MASTERY Statement of Owner's Equity For Year Ended December 31 M. Masters, Capital, December 31 $ 66,000 unaujusieu BUSINESS MASTERY Balance Sheet December 31 ASSETS Current assets: $ Plant assets: LIABILITIES AND EQUITY es Current liabilities: current Noncurrent liabilities: Equity Post-closing Trial Balance Included on Post-closing trial balance? Type of Account Account Cash Accounts receivable Supplies Equipment Accumulated depreciation - Equipment Interest payable Salaries payable Unearned member fees Long-term notes payable M. Masters, Capital M. Masters, Withdrawals Member fees earned Depreciation expense - Equipment Salaries expense Interest expense Supplies expense Totals 2 9 3 10 Analysis of the unearned member fees account shows $2,800 remaining uneamed at December 31. Record the required adjusting entry, if any. Note: Enter debits before credits Account Title Debit Credit Date Dec 31 Record entry Clear entry View general journal General Ledger > Record the entry to close the expense account(s). Note: Enter debits before credits. Account Title Debit Credit Date Dec 31 Record entry Clear entry View general Journal Ceneral Ledger > Use ure urup-uuws U DECE ETC ALLU properly WiveU UN Le Dime Salement. Me Uld) or post-closing balances will appear for each account, based on your selection. Unadjusted BUSINESS MASTERY Income Statement For Year Ended December 31 Revenues: Expenses: OUVI CAPITE TU VIC C V . Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted BUSINESS MASTERY Statement of Owner's Equity For Year Ended December 31 M. Masters, Capital, December 31 $ 66,000 unaujusieu BUSINESS MASTERY Balance Sheet December 31 ASSETS Current assets: $ Plant assets: LIABILITIES AND EQUITY es Current liabilities: current Noncurrent liabilities: Equity Post-closing Trial Balance Included on Post-closing trial balance? Type of Account Account Cash Accounts receivable Supplies Equipment Accumulated depreciation - Equipment Interest payable Salaries payable Unearned member fees Long-term notes payable M. Masters, Capital M. Masters, Withdrawals Member fees earned Depreciation expense - Equipment Salaries expense Interest expense Supplies expense Totals
