journal entry worksheet

1- record the adjusting entry for supplies

2- record the adjusting entry for insurance

3- record the adjusting entry for depreciation

4-record the closing entry for revenue

5-record the closing entry for expenses

6-record the closing entry for the balance of income summary

7-record the closing entry for the drawing account.

The Trial Balance section of the worksheet for Fashion World for the period ended December 31, 20x1, appears below. Adjustments dath are also given. ADJUSTMENTS a. Supplies used, $7,360 b. Expired insurance, $4,928 c. Depreciation expense for machinery. $2,600 Required: 1. Complete the worksheet. 2. Prepare an income statement. 3. Prepare a statement of owner's equity. 4. Prepare a balance sheet. 5. Journalize the adjusting entries in the general joumal. 6. Journalize the closing entries in the general journal 7. Prepare a postclosing trial baiance. Analyze: If the adjusting entry for expired insurance had been recorded in efror as a credit to insurance Expense and a debit to Prepaid Insurance for $4,928, what reported net income would have resulted? Complete this question by entering your answers in the tabs below. Eomplete the warksheet. Prepare an income statement. Complete this question by entering your answers In the tabs below. Prepare a statement of owner's equity. Prepare a balence sheet: Prepore a pottioning trial balance. Analyze: If the adjusting entry for expired insurance had been recorded in error as a credit to Insurance Expense and a debit to Prepaic Insurance for $4,928, what reported net income would have resulted? Complete this question by entering your answers in the tabs below. If the adjusting entry for expired insurance had been recorded in error as a credit to Insurance Expense and a debit to Prepaid Insurance for $4,928, what reported net income would have resulted