On July 31, 20X1, after one month of operation, the general ledger of Michael Mendoza, CPA, contained the accounts and balances given below.

ACCOUNTS AND BALANCESCash$26,710Dr.Accounts Receivable2,440Dr.Supplies960Dr.Prepaid Rent10,500Dr.Prepaid Insurance2,820Dr.Prepaid Advertising400Dr.Furniture14,760Dr.Accumulated Depreciation?FurnitureEquipment7,250Dr.Accumulated Depreciation?EquipmentNotes Payable17,700Cr.Accounts Payable5,500Cr.Interest PayableUnearned Accounting Fees6,600Cr.Michael Mendoza, Capital34,720Cr.Michael Mendoza, Drawing3,600Dr.Accounting Fees9,600Cr.Salaries Expense4,200Dr.Utilities Expense270Dr.Telephone Expense210Dr.Supplies ExpenseRent ExpenseInsurance ExpenseAdvertising ExpenseDepreciation Expense?FurnitureDepreciation Expense?EquipmentInterest Expense

ADJUSTMENTS

1. On July 31, an inventory of the supplies showed that items costing $530 were on hand.
2. On July 1, the firm paid $10,500 in advance for three months of rent.
3. On July 1, the firm purchased a one-year insurance policy for $2,820.
4. On July 1, the firm paid $400 for four months of advertising. The ads began running in July.
5. On July 1, the firm purchased office furniture for $14,760. The furniture is expected to have a useful life of six years and a salvage value of $1,800.
6. On July 1, the firm purchased office equipment for $7,250. The equipment is expected to have a useful life of five years and a salvage value of $1,850.
7. On July 1, the firm issued a three-month, 6 percent note for $17,700.
8. On July 1, the firm received a consulting fee of $6,600 in advance for a one-year period.

Required:

1. Prepare a partial worksheet with the following sections: Trial Balance, Adjustments, and Adjusted Trial Balance. Use the data about the firm's accounts and balances to complete the Trial Balance section.
2. Enter the adjustments described above in the Adjustments section.
3. Complete the Adjusted Trial Balance section.

Analyze:

By what total amount were the expense accounts of the business adjusted?

Question 10 - CH 12 Learning Ac X Chapter 12 Homework.docx X M (sin asunto) - ortizmorenoc522@ x + X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fctc.blackboard.com%252Fwebapps%252Fportal%252Ffram. CH 12 Learning Acivities @ Saved Help Save & Exit Submit Check my work 10 On July 31, 20X1, after one month of operation, the general ledger of Michael Mendoza, CPA, contained the accounts and balances given below. ACCOUNTS AND BALANCES points Cash $ 26, 710 Or. Accounts Receivable 2,440 Dr. Supplies 960 Or. Prepaid Rent 10, 508 Dr. Book Prepaid Insurance 2, 820 Dr. Prepaid Advertising 408 Dr. Furniture 14, 760 Dr. Accumulated Depreciation-Furniture Print Equipment 7,250 Or. Accumulated Depreciation-Equipment Notes Payable 17, 700 Cr. Accounts Payable 5, 508 Cr. References Interest Payable Unearned Accounting Fees 6, see Cr. Michael Mendoza, Capital 34,720 Cr. Michael Mendoza, Drawing 3, 608 Dr. Accounting Fees 9, 600 Cr. Salaries Expense 4, 208 Or. Utilities Expense 270 Dr. Telephone Expense 210 Dr. Supplies Expense Rent Expense Insurance Expense Advertising Expense Depreciation Expense-Furniture Depreciation Expense-Equipment Interest Expense ADJUSTMENTS a. On July 31, an Inventory of the supplies showed that items costing $530 were on hand. M. L..1.. . Gram 5:25 PM Type here to search O 3/7/2021Question 10 - CH 12 Learning Ac X Chapter 12 Homework.docx X M (sin asunto) - ortizmorenoc522@ x + X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fctc.blackboard.com%252Fwebapps%252Fportal%252Ffram.. CH 12 Learning Acivities @ Saved Help Save & Exit Submit Check my work 10 Insurance Expense Advertising Expense Depreciation Expense-Furniture Depreciation Expense-Equipment Interest Expense points ADJUSTMENTS a. On July 31, an Inventory of the supplies showed that Items costing $530 were on hand. b. On July 1, the firm paid $10,500 in advance for three months of rent Book c. On July 1, the firm purchased a one-year insurance policy for $2,820. d. On July 1, the firm paid $400 for four months of advertising. The ads began running In July. e. On July 1, the firm purchased office furniture for $14,760. The furniture is expected to have a useful life of six years and a salvage Print value of $1,800. f. On July 1, the firm purchased office equipment for $7,250. The equipment is expected to have a useful life of five years and a salvage value of $1,850. g. On July 1, the firm issued a three-month, 6 percent note for $17,700. References h. On July 1, the firm received a consulting fee of $6,600 in advance for a one-year period. Required: 1. Prepare a partial worksheet with the following sections: Trial Balance, Adjustments, and Adjusted Trial Balance. Use the data about the firm's accounts and balances to complete the Trial Balance section. 2. Enter the adjustments described above In the Adjustments section. 3. Complete the Adjusted Trial Balance section. Analyze: By what total amount were the expense accounts of the business adjusted? Complete this question by entering your answers in the tabs below. Screenshot saved The screenshot was added to your Partial Worksheet Analyze OneDrive. OneDrive Gram 5:25 PM Type here to search O 3/7/2021 EQuestion 10 - CH 12 Learning Ac X *Chapter 12 Homework.docx X M (sin asunto) - ortizmorenoc522@ x + X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fctc.blackboard.com%252Fwebapps%252Fportal%252Ffram... CH 12 Learning Acivities SEVEE Help Save & Exit Submit Check my work 10 Worksheet Analyze Complete the partial worksheet. (Round "Interest Payable" and "Interest Expense" to 2 decimal places.) Michael Mendoza, CPA 4 points Partial Worksheet Month Ended July 31, 20X1 Trial Balance Adjustments Adjusted Trial Balance Account Name Debit Credi Debit Credit Debit Credit eBook Cash $26,710.00 $26,710.00 Accounts Receivable 2,440.00 2,440.00 Supplies 960.00 430.00 530.00 Prepaid Rent 10.500.00 3,500.00 7.000.00 Prepaid Insurance 2,820.00 235.00 2.585.00 References Prepaid Advertising 400.00 100.00 300.00 Furniture 14.780.00 14,780.00 Accumulated Depreciation-Furniture Equipment 7.250.00 Accumulated Depreciation-Equipment Notes Payable 17.700.00 17,700.00 Accounts Payable 5,500.00 5,500.00 Interest Payable Unearned Accounting Fees 8,800.00 Michael Mendoza, Capital 84,720.00 Michael Mendoza, Drawing 8,800.00 Accounting Fees 9,800.00 Salaries Expense .200.00 Utilities Expense 70.00 Telephone Expense 210.00 Supplies Expense Rent Expense Insurance Expense Advertising Expense Depreciation Expense-Furniture Depreciation Expense-Equipment Interest Expense Totals $74,120.00 $74.120.00 5 0.00 $ 4,265.00 $54,325.00 $23,200.00 Type here to search O 5:25 PM 3/7/2021