Journal Entry

Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post a. As of December 31, Farrolton had $650 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. b. At the end of the month, Farrolton had $800 of office supplies remaining. Review the journal entry you prepared in Requirement 1 . c. Depreciation on the bullding is $3,200. Review the joumal entry you prepared in Requirement 1. d. Farrotton pays its employees on Friday for the weekly salafies. its employees earn $1,600 for a five-day workweek. December 31 falls on Tuesday this year Review the joumal entry you prepared in Requirement 1 Data tahle More info Adjustment data at December 31 follow: a. As of December 31 , Farrolton had $650 of Prepaid Insurance remaining. b. At the end of the month, Farrolton had $800 of office supplies remaining. c. Depreciation on the building is $3,200. d. Farrolton pays its employees weekly on Friday. Its employees earn $1,600 for a five-day workweek. December 31 falls on Tuesday this year. e. On November 20, Farrolton contracted to perform services for a client receiving $2,500 in advance. Farrolton recorded this receipt of cash as Unearned Revenue. As of December 31, Farrolton has $800 still unearned. Requirements 1. Journalize the adjusting entries on December 31. 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. 3. Prepare the adjusted trial balance. 4. Assuming the adjusted trial balance has total debits equal to total credits, does this mean that the adjusting entries have been recorded correctly? Explain. ovina the joumal erthy you preoared in flocurement 1