Please do Journal entries for number 5 all parts

5. From the following information prepare adjusting entries in the general journal and enter them in the "adjustments columns of the work sheet and cross-reference the amounts using the related alphabetic characters (round all calculations to the nearest dollar). a. The annual provision for doubtful accounts receivable is recorded in an amount equal to 6% of gross accounts receivable less the ending Allowance account balance. (This entry should be entered below the middle of General Journal page 10.) b. An inventory count of the office supplies revealed $810 of supplies on hand at year- end. c. The insurance premium outstanding on January 1, 2021, covers the period January 1 through August 31, 2021. The insurance premium of $7,800 recorded in August covers the period of September 1, 2021 through August 31, 2022. Rockford estimates that 75% of the premiums are attributable to general activities and 25% to selling activities. (Use Miscellaneous Expense). d. The payroll summary for the employees who are paid biweekly shows the following information at December 31, 2021: Delivery and Warehouse Wages FICA Taxes Payable Federal Withholding Taxes State Withholding Taxes.. $6,100 (440) (980) (200) $4,480 Net pay. e. The employer's share of the FICA tax ($440) must be accrued; no state or federal unemployment tax is incurred during the fourth quarter because all wages and salaries earned during the last quarter exceed the maximum subject to unemployment tax. f. Interest has accrued at 4% on the long-term notes payable since July 1, 2021. The next six-month interest payment at 5% on the bonds is due on March 1, 2022. The dis- count on bonds payable has not been amortized for any part of 2021; the bonds are dated March 1, 2015, and mature March 1, 2025. g. The interest accrued to 12/31/21 on notes receivable is composed of the following: Platteville Plumbers, 4%, 6 months, due March 31, 2022 $450 Bilder Construction, 6%, 6 months, due June 17, 2022 127 Beverly's Building, 5%, 6 months, due June 26, 2022 $586 9 Assets Cost Life Value Method The interest accrued at 12/31/21 on the note payable of $15,000 @ 5% is $750. Interest is payable on January 2, 2022. h. A warehouse lease payment of $10,500 was made on September 1, 2021, for rental through February 28, 2022. (The Prepaid Rent account is for advance lease payments on the warehouse.) i. $590 is owed to Northern Electric Co. and $270 is owed to City of Rockford for utility services provided during December 2021. j. Plant and equipment to be depreciated are composed of the following: Estimated Date Usage or Salvage Depreciation Acquired Building 25 years $20,000 sum-of-the-years' digits Truck No. 1 60,000 miles miles driven Truck No. 2 33,000 60,000 miles Lift No. 1 (Sold 12/31/21) 10 years straight-line Lift No. 2 10 years straight-line Lift No. 3 10 years straight-line Office All prior to Equipment 32,800 7 years 2,000 straight-line Computer 6,100 5 years 1,300 Double-decling balance Truck No. 1 has been driven 45,000 miles prior to 1/1/21 and truck No. 2 has been driv- en 30,500 miles prior to 1/1/21. During 2021 truck No. 1 was driven 15,000 miles and truck No. 2 was driven 12,000 miles. Remember that the Rockford Company takes a half-year's depreciation in the year of acquisition and a half-year in the year of sale. 7/1/17 4/1/18 9/1/20 $306,000 28,000 3,100 4,200 miles driven 8/17/14 3/29/18 9/16/19 7,900 4,500 5,000 900 500 500 1/1/21 12/22/21 5. From the following information prepare adjusting entries in the general journal and enter them in the "adjustments columns of the work sheet and cross-reference the amounts using the related alphabetic characters (round all calculations to the nearest dollar). a. The annual provision for doubtful accounts receivable is recorded in an amount equal to 6% of gross accounts receivable less the ending Allowance account balance. (This entry should be entered below the middle of General Journal page 10.) b. An inventory count of the office supplies revealed $810 of supplies on hand at year- end. c. The insurance premium outstanding on January 1, 2021, covers the period January 1 through August 31, 2021. The insurance premium of $7,800 recorded in August covers the period of September 1, 2021 through August 31, 2022. Rockford estimates that 75% of the premiums are attributable to general activities and 25% to selling activities. (Use Miscellaneous Expense). d. The payroll summary for the employees who are paid biweekly shows the following information at December 31, 2021: Delivery and Warehouse Wages FICA Taxes Payable Federal Withholding Taxes State Withholding Taxes.. $6,100 (440) (980) (200) $4,480 Net pay. e. The employer's share of the FICA tax ($440) must be accrued; no state or federal unemployment tax is incurred during the fourth quarter because all wages and salaries earned during the last quarter exceed the maximum subject to unemployment tax. f. Interest has accrued at 4% on the long-term notes payable since July 1, 2021. The next six-month interest payment at 5% on the bonds is due on March 1, 2022. The dis- count on bonds payable has not been amortized for any part of 2021; the bonds are dated March 1, 2015, and mature March 1, 2025. g. The interest accrued to 12/31/21 on notes receivable is composed of the following: Platteville Plumbers, 4%, 6 months, due March 31, 2022 $450 Bilder Construction, 6%, 6 months, due June 17, 2022 127 Beverly's Building, 5%, 6 months, due June 26, 2022 $586 9 Assets Cost Life Value Method The interest accrued at 12/31/21 on the note payable of $15,000 @ 5% is $750. Interest is payable on January 2, 2022. h. A warehouse lease payment of $10,500 was made on September 1, 2021, for rental through February 28, 2022. (The Prepaid Rent account is for advance lease payments on the warehouse.) i. $590 is owed to Northern Electric Co. and $270 is owed to City of Rockford for utility services provided during December 2021. j. Plant and equipment to be depreciated are composed of the following: Estimated Date Usage or Salvage Depreciation Acquired Building 25 years $20,000 sum-of-the-years' digits Truck No. 1 60,000 miles miles driven Truck No. 2 33,000 60,000 miles Lift No. 1 (Sold 12/31/21) 10 years straight-line Lift No. 2 10 years straight-line Lift No. 3 10 years straight-line Office All prior to Equipment 32,800 7 years 2,000 straight-line Computer 6,100 5 years 1,300 Double-decling balance Truck No. 1 has been driven 45,000 miles prior to 1/1/21 and truck No. 2 has been driv- en 30,500 miles prior to 1/1/21. During 2021 truck No. 1 was driven 15,000 miles and truck No. 2 was driven 12,000 miles. Remember that the Rockford Company takes a half-year's depreciation in the year of acquisition and a half-year in the year of sale. 7/1/17 4/1/18 9/1/20 $306,000 28,000 3,100 4,200 miles driven 8/17/14 3/29/18 9/16/19 7,900 4,500 5,000 900 500 500 1/1/21 12/22/21