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Please help with the adjusting entries for each one. 1 . A supplier shipped $3,000 of ingredients on 12/29/17. Peyton receives an invoice for $3,175?goods

Please help with the adjusting entries for each one.

1. A supplier shipped $3,000 of ingredients on 12/29/17. Peyton receives an invoice for $3,175?goods

of $3,000 and freight of $175?all dated 12/29/17. Goods were shipped FOB supplier's warehouse.

2. At 12/31/17, Peyton has $200 worth of merchandise on consignment at Bruno's House of Bacon.

3. On 12/23/17, Peyton received $1,000 deposit from Pet Globe for product to be shipped by Peyton in

the second week of January.

4. On 12/03/2017, a mixer with a cost of $2,000, accumulated depreciation $1,200, was destroyed by a

forklift. As of 12/23/17, insurance company has agreed to pay $700 in January, 2018, for accidental

destruction.

image text in transcribed
As of December 31, 2017 Unadjusted trial balance Adjusting entries Adjusted trial balance Dr Cr ref Dr Cr ref Dr Cr Cash 67,520.04 67,520.04 Accounts Receivable 68,519.91 68,519.91 Other Receivable - Insurance Baking Supplies 15,506.70 15,506.70 Merchandise Inventory 1,238.07 1,238.07 Consignment Inventory Prepaid Rent 2,114.55 2,114.55 Prepaid Insurance 2,114.55 2,114.55 Misc. Supplies 170.49 170.49 Baking Equipment 14,000.00 14,000.00 Accumulated Depreciation 1,606.44 1,606.44 Customer Deposit Accounts Payable 20,262.11 20,262.11 Wages Payable 3,383.28 3,383.28 Interest Payable 211.46 211.46 Notes Payable 5,000.00 5,000.00 Common Stock 20,000.00 20,000.00 Beginning Retained earnings 50,144.84 50,144.84 Dividends 105,000.00 105,000.00 Bakery Sales 327,322.55 327,322.55 Merchandise Sales 1,205.64 1,205.64 Cost of Goods Sold - Baked 105,834.29 105,834.29 Cost of Goods Sold - Merchandis 859.77 859.77 Rent Expense 24,549.19 24,549.19 Wages Expense 10,670.72 10,670.72 Misc. Supplies Expense 3,000.46 3,000.46 Business License Expense 2,045.77 2,045.77 Misc. Expense 1,363.84 1,363.84 Depreciation Expense 677.86 677.86 Insurance Expense 1,091.08 1,091.08 Advertising Expense 1,549.74 1,549.74 Interest Expense 818.31 818.31 Telephone Expense 490.98 490.98 Gain/Loss on disposal of equipment 429,136.32 429,136.32 429,136.32 429,136.32

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