Pips Puppy Company has the following UNADJUSTED Trial Balance at Year End Pips Puppy Company Trial Balance DEC 31, 2023 Debit Credit Cash $12,500 Accounts Receivable $25,000 Inventory $40,000 Supplies $8,000 Prepaid Insurance $24,000 Land $50,000 Building $145,000 Accum Dep Building $0 Equipment $80,000 Accum Dep Equipment $0 Accounts Payable $109,500 Unearned Revenue $22,000 Interest Payable$0Salary Payable $0 Mortgage Payable $50,000 Taras Capital $150,000 Taras Drawing $4,000 Service Revenue $75,000 Rent Expense $3,000 Salary Expense $15,000 Interest Expense $0 Depreciation Expense Blg $0 Depreciation Exp Equip $0 Insurance Expense $0 Supplies Expense $0 Total $406,500 $406,500 Additional Data Needed for Adjustments Tara estimates that the BUILDING will Depreciate at a rate of $12,000 per year and the Equipment at a rate of $4,000 per year Record the Depreciation for the year for both the Building and Equipment Tara determines that 40 of the Unearned Revenue has now been earned by year end $22 000 x 40 $8,800 3 The ending (UNUSED) Supplies value is estimated to be $3,800 $8,000 $4,200 4 Tara realizes she neglected (FORGOTOOPS) to record interest revenue of $8,900 that was earned but not yet RECEIVED by Dec 31 st 5 The Prepaid Insurance Policy is for 12 months dated July 1 st , 2022 record the adjustment for 6 months ending Dec 31 st 2022 $24,000 12 Mos $2,000 x 6 months $12,000 used up 6 Tara has not yet paid $3,450 to her employees for salaries owed but not yet paid (Payable) at the end of the month of Dec 31 st 2023 REQUIRED Record the Adjustments in the Journal all accounts needed are included in the Trial Balance

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Pips Puppy Company has the following UNADJUSTED Trial Balance at Year End: Pips Puppy Company Trial Balance DEC 31, 2023 Debit Credit Cash $12,500 Accounts

Pip’s Puppy Company has the following UNADJUSTED Trial Balance at Year End:

Pip’s Puppy Company

Trial Balance

DEC 31, 2023

Debit Credit

Cash $12,500

Accounts Receivable $25,000

Inventory $40,000

Supplies $8,000

Prepaid Insurance $24,000

Land $50,000

Building $145,000

Accum Dep-Building $0

Equipment $80,000

Accum Dep-Equipment $0

Accounts Payable $109,500

Unearned Revenue $22,000

Interest Payable$0Salary Payable $0

Mortgage Payable $50,000

Tara’s Capital $150,000

Tara’s Drawing $4,000

Service Revenue $75,000

Rent Expense $3,000

Salary Expense $15,000

Interest Expense $0

Depreciation Expense-Blg $0

Depreciation Exp Equip $0

Insurance Expense $0

Supplies Expense $0

Total $406,500 $406,500

Additional Data Needed for Adjustments:

Tara estimates that the BUILDING will Depreciate at a rate of $12,000 per year and the Equipment at a rate of $4,000 per year . Record the Depreciation for the year for both the Building and Equipment.

Tara determines that 40% of the Unearned Revenue has now been earned by year end:

$22.000 x 40% = $8,800

3. The ending (UNUSED) Supplies value is estimated to be $3,800.-$8,000 = $4,200

4. Tara realizes she neglected (FORGOT…OOPS) to record interest revenue of $8,900 that was earned but not yet RECEIVED by Dec 31^st.

5. The Prepaid Insurance Policy is for 12 months dated July 1^st, 2022...record the adjustment for 6 months ending Dec 31^st 2022. $24,000/12 Mos = $2,000 x 6 months = $12,000 used up

6. Tara has not yet paid $3,450 to her employees for salaries owed but not yet paid (Payable) at the end of the month of Dec 31^st 2023.

REQUIRED: Record the Adjustments in the Journal...all accounts needed are included in the Trial Balance