Name: Acceso Computing, Inc. DRFOR Bal 20,000 Basi negati Way Bal 190,000 Cash (100) Accounts Recole Supplies (10) Prepaid Inlichen Computer Science and Accumulate Deprecated Apam Boyable DR DR CR (200 (205) Luages lagable Une arred Reword Commanho 300 ) 200,000 Bc ( ( (315) Retained canings Renenud Renequel too) Depreciation Expense "DR 20,000 Bal 10,000 Bal Supplies Expense. (605) (610) Insurance Experte DR CR Belek Bals 20,000 Income Summary (900) DR ICR ck Noah B Access Computing Adjusting entries Practice Problem Using the unadjusted Trial Balance from Access computing and the following information, prepare the necessary adjusting entries for Access Computing, Inc at 12/31/2016. 1) The count of supplies on hand at 12/31/16 was $1,500. Please adjust the supplies account to actual. 2) The entire uneamed revenue balance was eamed at 12/31/2016. 3) Employees have earned 5 days wages at 12/31/2016. The wages will not be paid until 2017 Daily payroll is $100 per day. 4) At 12/31/2016, $1200 of work had been completed but the customer will not pay us until 2017 5) The computer equipment that was purchased on 12/1 for $15,000 has a 5 year useful life and a $3,000 salvage value. Record December (1 month) depreciation. 6) Adjust the prepaid Insurance account for the expired insurance. The insurance was originally purchased on 12/1/16 for $9,000. It was for an 18 month policy covering from 12/1/16- 5/31/18 Required: Record the adjusting entries for items 1-6 above. Post the adjusting entries to the Taccounts and get balances in the accounts. Prepare an adjusted trial balance Use the adjusted trial balance prepare the income statement, statement of retained earnings and Balance Sheet Name: Acceso Computing, Inc. DRFOR Bal 20,000 Basi negati Way Bal 190,000 Cash (100) Accounts Recole Supplies (10) Prepaid Inlichen Computer Science and Accumulate Deprecated Apam Boyable DR DR CR (200 (205) Luages lagable Une arred Reword Commanho 300 ) 200,000 Bc ( ( (315) Retained canings Renenud Renequel too) Depreciation Expense "DR 20,000 Bal 10,000 Bal Supplies Expense. (605) (610) Insurance Experte DR CR Belek Bals 20,000 Income Summary (900) DR ICR ck Noah B Access Computing Adjusting entries Practice Problem Using the unadjusted Trial Balance from Access computing and the following information, prepare the necessary adjusting entries for Access Computing, Inc at 12/31/2016. 1) The count of supplies on hand at 12/31/16 was $1,500. Please adjust the supplies account to actual. 2) The entire uneamed revenue balance was eamed at 12/31/2016. 3) Employees have earned 5 days wages at 12/31/2016. The wages will not be paid until 2017 Daily payroll is $100 per day. 4) At 12/31/2016, $1200 of work had been completed but the customer will not pay us until 2017 5) The computer equipment that was purchased on 12/1 for $15,000 has a 5 year useful life and a $3,000 salvage value. Record December (1 month) depreciation. 6) Adjust the prepaid Insurance account for the expired insurance. The insurance was originally purchased on 12/1/16 for $9,000. It was for an 18 month policy covering from 12/1/16- 5/31/18 Required: Record the adjusting entries for items 1-6 above. Post the adjusting entries to the Taccounts and get balances in the accounts. Prepare an adjusted trial balance Use the adjusted trial balance prepare the income statement, statement of retained earnings and Balance Sheet