mheducation.com/ext/map/index.html?_con=con&ext Saved oblem Required information [The following information applies to the questions displayed below.) Francine's Fast Deliveries, Inc. (FFD) was organized in December of 2011. It had limited activity in 2011. The resulting balance sheet at the beginning of 2012 is provided below. Francine's Fast Deliveries, Inc. Balance Sheet at January 1, 2012 Assets: Liabilities: Cash $1,925 Accounts Payable Accounts Receivable 1,200 Stockholders' Equity Supplies 1.000 Common Stock Retained Earnings $ 1,410 $2,000 715 Total Assets $ 4,125 Total Liabilities & Stk. Equity $ 4.125 lanan Trancartinne for Franrina'e Faet nalivarice Inc IFEN X 5 Connect + heducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F Save blem January Transactions for Francine's Fast Deliveries, Inc. (FFD) 1 Date Owners invest $32,000 of additional cash in the business. 2a Supplies are purchased for $1,300 on account. 2b Insurance is paid for 12 months beginning January 1: $8,580 (Record as an asset) 2c Rent is paid for 3 months beginning in January: $4,800 (Record as an asset) 2d Two employees are hired. Each employee will be paid $1,850 per month 3 FFD borrows $36,000 from 1st State Bank at 6% annual interest. A delivery van is purchased for cash. Including tax the total cost was $62,400. It 6 will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation will be charged in January 7 $840 of the receivables from December's sales are collected. 8 $1,128 of the accounts payable from December are paid. 9 Performed services for customers on account. Mailed invoices totaling $11,200. 10 Services are performed for cash customers: $7,840. 16 Wages for the first half of the month are paid on January 16: $1,850. The company receives $4,400 from a customer for an advance order for services 20 to be provided in January and February. 25 Collections from customers on account (see January 9 transaction): $4,480 30a The last 2 weeks wages earned by employees are $925 per employee and will be paid on February 3. 104175 ... bill for an area in dinan Caban: 15 BA Connect x + ezto.mheducation.com/ext/map/index.html?_con=con&external browser=0&launch Url=https%253A%252F%25 Save Sive Problem sua be paid on February 3. 30 A $1,175 utility bill for January arrived. It is due on February 15. Additional Information for adjusting entries at January 31: a. Supplies on hand on January 31 total $460. The company completed 60% of the deliveries for the customer who paid in advance b. on January 20 C. Interest is accrued for the bank loan. (Assume a full month for the 1st State Bank loan.) d. Record January depreciation e. Adjust the prepaid asset (Rent and Insurance) accounts as needed. 3. Prepare an unadjusted trial balance using the T-Account balances. FAST DELIVERIES, INC. Unadjusted Trial Balance January 31 Account Title Debit Credit Cash U X 01-010 Connect X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0Blaunch Url=https Save Comprehensive Problem 3 Required information Part 3 of 6 Debit Credit 16.66 points Skipped January 31 Account Title Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Deferred Revenue Notes Payable Wages Payable Interest Payable Common Stock Retained Earnings eBook ASK Print References Mc Graw Hill