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need help with parts 1-12 More info Adjustment data at December 31 follow: a. As of December 31 , Fernville had $400 of Prepaid Insurance
need help with parts 1-12
More info Adjustment data at December 31 follow: a. As of December 31 , Fernville had $400 of Prepaid Insurance remaining. b. At the end of the month, Fernville had $400 of office supplies remaining. c. Depreciation on the building is $2,100. d. Fernville pays its employees weekly on Friday. Its employees earn $1,000 for a five-day workweek. December 31 falls on Tuesday this year. e. On November 20, Fernville contracted to perform services for a client receiving $3,200 in advance. Fernville recorded this receipt of cash as Unearned Revenue. As of December 31 , Fernville has $2,100 still unearned. The unadjusted trial balance of Fermville inn Company at December 31, 2024, and the data needed for the adjustments follow. (Click the icon to viow the unadjusted trial balance.) P (Click the icon to view the adjustment data.) Read the tequirements. Requirement 1. Journalize the adjusting entries on Decomber 31. (Record debits first, then credis. Select the explanation on the last line of the journaf entry table.) a. As of December 31 , Fernville had $400 of Prepaid insurance remaining. Data table Requirements 1. Journalize the adjusting entries on December 31 . 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. 3. Prepare the adjusted trial balance. 4. Assuming the adjusted trial balance has total debits equal to total credits, does this mean that the adjusting entries have been recorded correctly? Explain Step by Step Solution
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