need help on part 2 ! which is cell 35 to 45 need to add the adjusted entries

Journalize (in the order given above) and post the adjusting entries.

A B TUI Tuias JCL UP III LIIC waianice CUIUIJ anu liat you uUIT LITUVC liic accuunila ai vuru. INCAL LU that box are the correct Dr/Cr totals that you should have. 33 At the end of December (the fiscal year end), Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end; all other adjustments are recorded monthly.) 34 a. Of the $8,200 received from the client on 12/11, only $6,900 has been earned as of 12/31. 35 36 b. c. 37 d. 38 The insurance policy was renewed on 10/1/20 for 6 months at a cost of $7,200. Interest has accrued on both of the notes. The $16,800 note was taken out on 9/1/20 and is for 6 months at 6% interest. $7,200 of the amounts received in advance from clients are still unearned. (NOTE: do not include amounts from Adjustment a in this calculation) Equipment is depreciated over 5 years using the straight-line method with no salvage value. The equipment on the books at 11/30 was purchased on 1/1/19. The new Vehicle is being depreciated over 10 years using the straight-line method with a $5,000 salvage value. $1,650 of supplies were used during December e. 39 f. 40 Received a utility bill for December for $785. 41 h. Record the salary of $20,000 owed to Mr. Cassel for December. He receives his check on the first day of the following month. His FICA tax rate is also 7.65% and he has 20% for Federal income tax and 10% for State income tax deducted from his check. 42 i. 43 Record the December wages earned and taxes owed by Tailer since the last pay period. (NOTE: round to whole dollars if necessary.) Record the employer's share of FICA tax on all salaries/wages payable and unemployment taxes on Tailer's wages only. j. 44 k. Audit services performed on 12/30 have not yet been billed. The client owes $7,500. 45 47 46 Instructions: Part 2 is due by 2pm on Tues 9/22. Don't forget to use formulas at all times. Journalize (in the order given above) and post the adjusting entries. 5 Complete the Worksheet. 4 48 A B D E F O PART 2 - Adjusting entries: 1 12/31 cash 6,900 service revenue 6,900 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 00 1 2 3 4 05 06 7 08 09 11 12 13 14 15 16 17 18 2 Ten-Column Worksheet For the Year Ended December 31, 2020 3 4 Unadjusted Trial Balance DR CR Adjustments DR CR Adjusted Trial Balance DR CR Income Statement DR CR Balance Sheet DR ACCOUNT 5 Ref Ref CR 6 Cash $ 79,219 7 68,400 Accounts receivable Prepaid insurance 8 4,800 9 Supplies 3,530 55.200 I$ 6,000 65,000 6,040 81,800 17,800 1,148 900 525 450 75 252 10 Equipment 11 Accumulated Depreciation-Equip 12 Vehicles 13 Accumulated Depreciation-Vehicle 14 Accounts payable 15 Notes payable 16 Unearned service revenue 17 Salaries and Wages Payable 18 FICA tax payable 19 Federal income tax payable 20 State income tax payable 21 FUTA tax payable 22 SUTA tax payable 23 Interest payable 24 Utilities payable 25 Common stock 26 Additional Paid-in Capital-Common 27 Dividends 28 Retained earnings 29 Service revenue 30 Rent expense 31 Salaries and wages expense 32 Payroll tax expense 33 Supplies expense 34 Interest expense 35 Insurance expense 36 Utilities expense 37 Depreciation expense 21,000 49,000 2,000 32,850 336,700 18,000 227,500 17,929 1.450 252 2,400 8,860 38 UNADJUSTED TOTALS $ 554,540$ 554,540 39 ADJUSTED TOTALS 40 Net Income 41 TOTALS 1 CASSEL ACCOUNTING GENERAL JOURNAL 2 3 4 ACCOUNT DEBIT CREDIT 5 DATE (T 1: December transactions 12/1 Rent Expense Cash 6 1,500 7 1,500 8 9 12/1 12,470 Salaries and Wages Payable Cash 10 12,470 11 12 12/1 Equiptment 25,200 13 Cash 25,200 14 15 12/1 Utilities Payable 570 16 Cash 570 17 18 12/3 Cash 50,000 19 9,000 Common Stock Additional Paid-in-Capital-Common 20 41,000 21 22 12/5 Supplies 840 23 Accounts Payable 840 24 25 12/7 Cash 17,400 26 Accounts Recievables 17,400 27 28 12/8 Vehicles 65,000 29 notes payable 65,000 30 31 12/10 Cash 8,600 32 Accounts Recievables 30,000 33 service revenue 38,600 34 35 12/11 cash 8,200 36 Service Revenue 8,200 37 38 12/11 2,500 39 Salaries and Wages Expense Fica Taxes Payable Federal Income Tax Pavable 191 40 300 B D E 42 Cash 1,834 13 12/11 366 14 45 46 191 Payrol Tax Expense Fica Taxes Payable futa payable suta payable 150 25 47 48 49 12/15 Fica Taxes Payable State Income Tax Payable Federal Income Tax Payable 3,060 2,000 50 4,000 51 52 Cash 9,060 53 54 12/16 Accounts Recievables 27,400 55 Service Revenue 27,400 56 57 12/18 Accounts Payable 3,200 Cash 3,200 58 59 50 940 12/22 Supplies Cash 51 940 52 12/25 Salaries and wages expense 5,000 383 53 54 55 56 57 58 FICA tax payable Federal income tax payable State income tax payable 600 350 Cash 3,668 59 12/25 733 383 70 71 72 73 Payrol Tax Expense Fica Taxes Payable Federal Income Tax Payable State Income Tax Payable 600 350 3,668 cash 74 12/28 Cash 8,400 75 76 Unearned Service Revenue 8,400 77 12/31 Dividends 2,000 78 79 Cash 2,000 30 IT 2 - Adiusting entries: 2 Cassel Accounting began operations as a corporation on 1/1/19. All transactions through 11/30/20 have been recorded and the account balances can be found in the November Trial Balance. During December, the following transactions occurred: (NOTE: All accounts used are in the Chart of Accounts on the same page as the Nov TB) 3 4 5 12/1 Paid the December office rent of $1,500. 6 12/1 Paid Mr Cassel his salary from November. 12/1 Purchased office furniture for $25,200 in cash. The furniture is recorded as "Equipment" on the books 7 8 9 10 11 12 12/1 Paid the utility bill from November. Mr. Cassel contributed $50,000 cash to the business and received 1,500 shares of $6 par common 12/3 stock in exchange. Hired Tailer Sift as a staff accountant who will be paid $500 per day for a 5-day (M-F) work week. 12/4 Payday is the 2nd and 4th Friday of the month, and covers the 2-week period ending on that Friday. Tailer's first day of work will be on Monday, 12/7. 12/5 Purchased office supplies for $840 on account. 12/7 Received $17,400 from clients who had been billed for services performed in November Mr. Cassel purchased a company car for $65,000 and signed a 5-year, 6% note payable. A new 12/8 "Vehicles" account is set up for this asset. Completed an audit for $38,600. The client paid $8,600 in cash and was billed for the balance 12/10 due. Received $8,200 from a client for services to be performed in December. Tailer recorded this as 12/11 December revenue. Recorded Tailer's gross wages for the pay period ending 12/11. The FICA tax rate is 7.65% of gross wages. Tailer has 12% for federal income tax and 7% for state income tax deducted from 12/11 her paycheck. She is paid her net wages on payday, and the taxes are paid on the 15th of the following month. (NOTE: Round FICA to whole dollars) 13 14 15 16 Record the employer's share of the FICA and unemployment taxes for Tailer's wages. The 12/11 ederal unemployment rate is 6%, and State is 1%. (NOTE: Round FICA to whole dollars) 17 18 12/15 Paid the payroll taxes due from November. 12/16 Billed clients $27,400 for audit services performed. 19 20 21 12/18 Paid $3,200 toward the amount due on account. 12/22 Purchased office supplies for $940 cash. 12/25 Paid Tailer's wages for the pay period ending 12/25, and recorded the taxes due. 12/25 Record the emplover's share of the FICA and unemplovment taxes for Tailer's wages. 22 A C D F G H M NO P Q S T 30 Journalize and post the December transactions. NOTE: if a transaction should not be recorded, 2 just leave it out. In addition, formulas must be used to pick up journal entry amounts and to calculate all ledger account balances. 3 Using formules start the worksheet by transferring the ledger balances at 12/31 to the Unadjusted Trial Balance columns 31 With regard to the Ledger: There are double-underlines throughout the accounts. These indicate that you should be done posting/recording items. For instance, the first double-underline in each account are for the A November balances (where applicable), the next one is for the end of recording December transactions, etc There is a "Check Figures Actual box at the very end of the ledger. The formulas are set so that when you post transactions, the balances will automatically be tabulated at the bottom so you B will know if your debits equal your credits. This assumes, however, that you have the proper formulas set up in the balance columns and that you don't move the accounts around. Next to that box are the correct Dr/cr totals that you should have. At the end of December (the fiscal year end). Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end, all other adjustments are recorded monthly) 33 34 a. 35 36 b. C. 37 . d. 38 of the $3,200 received from the client on 12/11, only $6,900 has been earned as of 12/31. The insurance policy was renewed on 10/1/20 for 6 months at a cost of $7,200. Interest has accrued on both of the notes. The $16,800 note was taken out on 9/1/20 and is for 6 months at 6% interest $7,200 of the amounts received in advance from clients are still uncamed. (NOTE: do not include amounts from Adjustment a in this calculation) Equipment is depreciated over 5 years using the straight-line method with no salvage value. The equipment on the books at 11/30 was purchased an 1/1/19. The new Vehicle is being deprecated over 10 years using the straight-line method with a $5,000 salvage value. $1,650 of supplies were used during December Received a utility bill for December for $785. . 39 f. 40 41 h. Record the salary of $20,000 owed to Mr. Cassel for December. He receives his check on the first day of the following month. His FICA tax rate is also 7.65% and he has 20% for Federal income tax and 10% for State income tax deducted from his check. 1. Record the December wages earned and taxes cwed by Tailer since the last pay period. (NOTE: round to whole dollars if necessary.) Record the employer's share of FICA tax on al salaries/wages payable and unemployment taxes Jon Toiler's wages only Audit services performed on 12/30 have not yet been billed. The client owes $7,500. i. 84 k. 45 Instructions: Part 2 is due by 2pm on Tues 9/22. Don't forget to use formulas at all times. 4 Journalize (in the order given above) and post the adjusting entries 5 Complete the Worksheet. + Instructions & Transactions Journal Nov Trial Balance and COA Ledger Worksheet Statements Post-Closing Trial Balance Calculation Mode: Automatic Workbook Statistics A B TUI Tuias JCL UP III LIIC waianice CUIUIJ anu liat you uUIT LITUVC liic accuunila ai vuru. INCAL LU that box are the correct Dr/Cr totals that you should have. 33 At the end of December (the fiscal year end), Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end; all other adjustments are recorded monthly.) 34 a. Of the $8,200 received from the client on 12/11, only $6,900 has been earned as of 12/31. 35 36 b. c. 37 d. 38 The insurance policy was renewed on 10/1/20 for 6 months at a cost of $7,200. Interest has accrued on both of the notes. The $16,800 note was taken out on 9/1/20 and is for 6 months at 6% interest. $7,200 of the amounts received in advance from clients are still unearned. (NOTE: do not include amounts from Adjustment a in this calculation) Equipment is depreciated over 5 years using the straight-line method with no salvage value. The equipment on the books at 11/30 was purchased on 1/1/19. The new Vehicle is being depreciated over 10 years using the straight-line method with a $5,000 salvage value. $1,650 of supplies were used during December e. 39 f. 40 Received a utility bill for December for $785. 41 h. Record the salary of $20,000 owed to Mr. Cassel for December. He receives his check on the first day of the following month. His FICA tax rate is also 7.65% and he has 20% for Federal income tax and 10% for State income tax deducted from his check. 42 i. 43 Record the December wages earned and taxes owed by Tailer since the last pay period. (NOTE: round to whole dollars if necessary.) Record the employer's share of FICA tax on all salaries/wages payable and unemployment taxes on Tailer's wages only. j. 44 k. Audit services performed on 12/30 have not yet been billed. The client owes $7,500. 45 47 46 Instructions: Part 2 is due by 2pm on Tues 9/22. Don't forget to use formulas at all times. Journalize (in the order given above) and post the adjusting entries. 5 Complete the Worksheet. 4 48 A B D E F O PART 2 - Adjusting entries: 1 12/31 cash 6,900 service revenue 6,900 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 00 1 2 3 4 05 06 7 08 09 11 12 13 14 15 16 17 18 2 Ten-Column Worksheet For the Year Ended December 31, 2020 3 4 Unadjusted Trial Balance DR CR Adjustments DR CR Adjusted Trial Balance DR CR Income Statement DR CR Balance Sheet DR ACCOUNT 5 Ref Ref CR 6 Cash $ 79,219 7 68,400 Accounts receivable Prepaid insurance 8 4,800 9 Supplies 3,530 55.200 I$ 6,000 65,000 6,040 81,800 17,800 1,148 900 525 450 75 252 10 Equipment 11 Accumulated Depreciation-Equip 12 Vehicles 13 Accumulated Depreciation-Vehicle 14 Accounts payable 15 Notes payable 16 Unearned service revenue 17 Salaries and Wages Payable 18 FICA tax payable 19 Federal income tax payable 20 State income tax payable 21 FUTA tax payable 22 SUTA tax payable 23 Interest payable 24 Utilities payable 25 Common stock 26 Additional Paid-in Capital-Common 27 Dividends 28 Retained earnings 29 Service revenue 30 Rent expense 31 Salaries and wages expense 32 Payroll tax expense 33 Supplies expense 34 Interest expense 35 Insurance expense 36 Utilities expense 37 Depreciation expense 21,000 49,000 2,000 32,850 336,700 18,000 227,500 17,929 1.450 252 2,400 8,860 38 UNADJUSTED TOTALS $ 554,540$ 554,540 39 ADJUSTED TOTALS 40 Net Income 41 TOTALS 1 CASSEL ACCOUNTING GENERAL JOURNAL 2 3 4 ACCOUNT DEBIT CREDIT 5 DATE (T 1: December transactions 12/1 Rent Expense Cash 6 1,500 7 1,500 8 9 12/1 12,470 Salaries and Wages Payable Cash 10 12,470 11 12 12/1 Equiptment 25,200 13 Cash 25,200 14 15 12/1 Utilities Payable 570 16 Cash 570 17 18 12/3 Cash 50,000 19 9,000 Common Stock Additional Paid-in-Capital-Common 20 41,000 21 22 12/5 Supplies 840 23 Accounts Payable 840 24 25 12/7 Cash 17,400 26 Accounts Recievables 17,400 27 28 12/8 Vehicles 65,000 29 notes payable 65,000 30 31 12/10 Cash 8,600 32 Accounts Recievables 30,000 33 service revenue 38,600 34 35 12/11 cash 8,200 36 Service Revenue 8,200 37 38 12/11 2,500 39 Salaries and Wages Expense Fica Taxes Payable Federal Income Tax Pavable 191 40 300 B D E 42 Cash 1,834 13 12/11 366 14 45 46 191 Payrol Tax Expense Fica Taxes Payable futa payable suta payable 150 25 47 48 49 12/15 Fica Taxes Payable State Income Tax Payable Federal Income Tax Payable 3,060 2,000 50 4,000 51 52 Cash 9,060 53 54 12/16 Accounts Recievables 27,400 55 Service Revenue 27,400 56 57 12/18 Accounts Payable 3,200 Cash 3,200 58 59 50 940 12/22 Supplies Cash 51 940 52 12/25 Salaries and wages expense 5,000 383 53 54 55 56 57 58 FICA tax payable Federal income tax payable State income tax payable 600 350 Cash 3,668 59 12/25 733 383 70 71 72 73 Payrol Tax Expense Fica Taxes Payable Federal Income Tax Payable State Income Tax Payable 600 350 3,668 cash 74 12/28 Cash 8,400 75 76 Unearned Service Revenue 8,400 77 12/31 Dividends 2,000 78 79 Cash 2,000 30 IT 2 - Adiusting entries: 2 Cassel Accounting began operations as a corporation on 1/1/19. All transactions through 11/30/20 have been recorded and the account balances can be found in the November Trial Balance. During December, the following transactions occurred: (NOTE: All accounts used are in the Chart of Accounts on the same page as the Nov TB) 3 4 5 12/1 Paid the December office rent of $1,500. 6 12/1 Paid Mr Cassel his salary from November. 12/1 Purchased office furniture for $25,200 in cash. The furniture is recorded as "Equipment" on the books 7 8 9 10 11 12 12/1 Paid the utility bill from November. Mr. Cassel contributed $50,000 cash to the business and received 1,500 shares of $6 par common 12/3 stock in exchange. Hired Tailer Sift as a staff accountant who will be paid $500 per day for a 5-day (M-F) work week. 12/4 Payday is the 2nd and 4th Friday of the month, and covers the 2-week period ending on that Friday. Tailer's first day of work will be on Monday, 12/7. 12/5 Purchased office supplies for $840 on account. 12/7 Received $17,400 from clients who had been billed for services performed in November Mr. Cassel purchased a company car for $65,000 and signed a 5-year, 6% note payable. A new 12/8 "Vehicles" account is set up for this asset. Completed an audit for $38,600. The client paid $8,600 in cash and was billed for the balance 12/10 due. Received $8,200 from a client for services to be performed in December. Tailer recorded this as 12/11 December revenue. Recorded Tailer's gross wages for the pay period ending 12/11. The FICA tax rate is 7.65% of gross wages. Tailer has 12% for federal income tax and 7% for state income tax deducted from 12/11 her paycheck. She is paid her net wages on payday, and the taxes are paid on the 15th of the following month. (NOTE: Round FICA to whole dollars) 13 14 15 16 Record the employer's share of the FICA and unemployment taxes for Tailer's wages. The 12/11 ederal unemployment rate is 6%, and State is 1%. (NOTE: Round FICA to whole dollars) 17 18 12/15 Paid the payroll taxes due from November. 12/16 Billed clients $27,400 for audit services performed. 19 20 21 12/18 Paid $3,200 toward the amount due on account. 12/22 Purchased office supplies for $940 cash. 12/25 Paid Tailer's wages for the pay period ending 12/25, and recorded the taxes due. 12/25 Record the emplover's share of the FICA and unemplovment taxes for Tailer's wages. 22 A C D F G H M NO P Q S T 30 Journalize and post the December transactions. NOTE: if a transaction should not be recorded, 2 just leave it out. In addition, formulas must be used to pick up journal entry amounts and to calculate all ledger account balances. 3 Using formules start the worksheet by transferring the ledger balances at 12/31 to the Unadjusted Trial Balance columns 31 With regard to the Ledger: There are double-underlines throughout the accounts. These indicate that you should be done posting/recording items. For instance, the first double-underline in each account are for the A November balances (where applicable), the next one is for the end of recording December transactions, etc There is a "Check Figures Actual box at the very end of the ledger. The formulas are set so that when you post transactions, the balances will automatically be tabulated at the bottom so you B will know if your debits equal your credits. This assumes, however, that you have the proper formulas set up in the balance columns and that you don't move the accounts around. Next to that box are the correct Dr/cr totals that you should have. At the end of December (the fiscal year end). Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end, all other adjustments are recorded monthly) 33 34 a. 35 36 b. C. 37 . d. 38 of the $3,200 received from the client on 12/11, only $6,900 has been earned as of 12/31. The insurance policy was renewed on 10/1/20 for 6 months at a cost of $7,200. Interest has accrued on both of the notes. The $16,800 note was taken out on 9/1/20 and is for 6 months at 6% interest $7,200 of the amounts received in advance from clients are still uncamed. (NOTE: do not include amounts from Adjustment a in this calculation) Equipment is depreciated over 5 years using the straight-line method with no salvage value. The equipment on the books at 11/30 was purchased an 1/1/19. The new Vehicle is being deprecated over 10 years using the straight-line method with a $5,000 salvage value. $1,650 of supplies were used during December Received a utility bill for December for $785. . 39 f. 40 41 h. Record the salary of $20,000 owed to Mr. Cassel for December. He receives his check on the first day of the following month. His FICA tax rate is also 7.65% and he has 20% for Federal income tax and 10% for State income tax deducted from his check. 1. Record the December wages earned and taxes cwed by Tailer since the last pay period. (NOTE: round to whole dollars if necessary.) Record the employer's share of FICA tax on al salaries/wages payable and unemployment taxes Jon Toiler's wages only Audit services performed on 12/30 have not yet been billed. The client owes $7,500. i. 84 k. 45 Instructions: Part 2 is due by 2pm on Tues 9/22. Don't forget to use formulas at all times. 4 Journalize (in the order given above) and post the adjusting entries 5 Complete the Worksheet. + Instructions & Transactions Journal Nov Trial Balance and COA Ledger Worksheet Statements Post-Closing Trial Balance Calculation Mode: Automatic Workbook Statistics