Journalize the six December 31 adjusting entries for Cole Designs Inc. that adjusted the accounts to arrive at the financial statements in the Adjusted Financial Statements panel. Refer to the Chart of Accounts for exact wording of account titles. Record each adjustment as a separate entry.

Adjusted Financial Statements x These financial statements were prepared from the adjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees earned $77,000.00 $47,200.00 3,515.00 2 Expenses: 3 Wages expense 4 Supplies expense Insurance expense 6 Depreciation expense Total expenses 5 2,900.00 2,000.00 7 55,615.00 8 Net income $21,385.00 December 31, 2017 1 Assets 2 Cash $4,000.00 33,000.00 110.00 3 Accounts receivable 4 Supplies 5 Prepaid insurance 6 Office equipment Accumulated depreciation office equipment 1,100.00 $11,000.00 (2,000.00) 7 9,000.00 8 Total assets $47,210.00 9 Liabilities $2,300.00 10 Wages payable 11 Unearned fees 1,700.00 12 Total Liabilities $4,000.00 13 Stockholders' Equity 14 Common stock $12,000.00 15 Retained earnings 31,210.00 43,210.00 16 Total liabilities and stockholders' equity $47,210.00 Adjusted Financial Statements x These financial statements were prepared from the adjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees earned $77,000.00 $47,200.00 3,515.00 2 Expenses: 3 Wages expense 4 Supplies expense Insurance expense 6 Depreciation expense Total expenses 5 2,900.00 2,000.00 7 55,615.00 8 Net income $21,385.00 Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees earned $70,600.00 44,900.00 2 Wages expense 3 Net income $25,700.00 CHART OF ACCOUNTS Cole Designs Inc. General Ledger ASSETS 11 Cash REVENUE 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Insurance 17 Land 18 Office Equipment 19 Accumulated Depreciation Office Equipment 51 Wages Expense 52 Supplies Expense 53 Rent Expense 54 Utilities Expense 55 Insurance Expense 56 Depreciation Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Rent 24 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Adjusting Entries Journalize the six December 31 adjusting entries for Cole Designs Inc. that adjusted the accounts to arrive at the financial statements in the Adjusted Financial Statements panel. to the Chart of Accounts for exact wording of account titles. Record each adjustment as a separate entry. PAGE 25 JOURNAL ACCOUNTING EQUATION DATE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Adjusting Entries 1 2 3 4 5 7 00 9 10 11 12 13