please prepare adjusting entries

31-Dec-19 Assets: Current Assets: Cash $ 12,300 15,720 (7,210) 11,580 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Interest Payable Salary and Wages Payable Total Current Liabilities 8,200 2,000 400 10,600 Accounts Receivable Less Allowance for Doubtful Accounts Inventory" Prepaid Insurance Supplies Total Current Assets $ 2,000 590 Long Term Liabilities: Bonds Payable, 8%, 10 year $ 34.980 $ 50,000 Total Liabilities $ 60,600 Property, Plant and Equipment: Building Less Accumulated Depreciation Equipment Less Accumulated Depreciation Total Property, Plant and Equipment $ 100,000 (30,000) 60,000 (35,855) $ 94,145 $ Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity 2 55,000 13,525 68,525 $ 27 Total Assets $ 129,125 Total Liabilities and Stockholders' Equity $ 129,125 *** Interest payable Jan. 1 and July 1 $ 29 30 Inventory balance is: 21 4000 units at $1.50 each 32 3600 units at $1.55 each 33 Total Inventory 34 6,000 5,580 11,580 s 36 LU ACCg Worksheet Income stem Statement of the Journal Entries Account Names Credit JE # 1 Interest Payable Cash Debit 2,000 2,000 2 Salaries & Wages payable Salaries & wages expense 400 550 cash 950 3 Accounts receivable Sales 60,000 60,000 1,300 4 Supplies Accounts payable 1,300 3,200 5 Purchase Accounts payable 3,200 41,600 6 Accounts receivable Sales 41,600 5,600 7 Allowance for doubtful accounts Accounts receivable 5,600 2,000 8 Interest expense Cash 2,000 4,050 9 Purchase Accounts payable 4,050 G 10 Accounts receivable Allowance for doubtful accounts 1,400 1.400 10B Cash Accounts receivable 1,400 1,400 11 Salaries & wages expense Cash 72,000 72,000 12 Pre-Paid Insurance cash 6,600 6,600 13 Accounts receivable Sales 57,750 57.750 14 Cash Accounts receivable 87,800 87,800 15 Purchase Accounts payable 6,270 6,270 10,300 16 Accounts payable Cash 10,300 7,750 17 Cash Sales 7,750 18. Selling expense Administrative expense Cash 1,600 3,850 5.450 LIDUI DUMTI UMLU ULU 2013 JOUERLAIN 1-ACCOUNT Accounting Worksheet Income Statem G H A 19 Dividend Cash C 6,000 6,000 20 Note receivable Sales 55,000 55,000 Export Summary Balance Sheet Dec 2019 Journal Entries T-Accounts Accounting Worlashnet Income Statement Statement D F a Accounting Worksheet Unadjusted Trial Balance Debit Credit Adjusting Journal Entries Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Account Name Cash Accounts Receivable Allowance for Doubtful Accounts Note Receivable, Short Term Interest Receivable Inventory Prepaid Insurance Supplies Note Receivable Long Term Premium on Note Receivable Building Accumulated Depreciation - Build Equipment Accumulated Depreciation - Equip Accounts Payable Interest Payable Salary and Wages Payable Bonds Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances Cost of Goods Sold Selling Expenses Administrative Expenses Salary and Wages Expense Interest Expense Depreciation Expense - Equipment Cost of Goods Sold 29 Selling Expenses 30 Administrative Expenses Salary and Wages Expense Interest Expense Depreciation Expense - Equipment Depreciation Expense - Building Bad Debt Expense Insurance Expense Supplies Expense a Interest Revenue Dividends 10 41 Income Tax Expense Income Tax Payable 47 Totals Income before Income Taxes Income Tax Expense (30%) Net Income 40 50 14 Adjusting Journal Entries: 1. Prepaid insurance expires evenly each month. 2. A count of supplies at year end revealed $480 of supplies on hand. 3. Interest is recorded on the long-term note receivable. 4. Interest is recorded on the Bonds Payable. 5. Depreciation on the equipment is calculated using the sum-of-years-digits method. The salvage value is $2,000, life is 10 years, and 4 years are depreciated as of Dec. 31, 2019. 6. Depreciation on the building is calculated using the straight-line method. The salvage value is $10,000, life is 30 years, and 10 years are depreciated as of Dec. 31, 2019. 7. Salaries and wages payable at year end amounted to $800. 8. Dresser performed an aging analysis of its year end Accounts Receivable as follows: 0-30 days 31-60 days 61-90 days > 90 days A/R Balance % $ (balance) 60% 20% 10% 10% % Uncollectible 10% 30% 50% 70% 9. Income tax is recorded at $25,916. 31-Dec-19 Assets: Current Assets: Cash $ 12,300 15,720 (7,210) 11,580 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Interest Payable Salary and Wages Payable Total Current Liabilities 8,200 2,000 400 10,600 Accounts Receivable Less Allowance for Doubtful Accounts Inventory" Prepaid Insurance Supplies Total Current Assets $ 2,000 590 Long Term Liabilities: Bonds Payable, 8%, 10 year $ 34.980 $ 50,000 Total Liabilities $ 60,600 Property, Plant and Equipment: Building Less Accumulated Depreciation Equipment Less Accumulated Depreciation Total Property, Plant and Equipment $ 100,000 (30,000) 60,000 (35,855) $ 94,145 $ Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity 2 55,000 13,525 68,525 $ 27 Total Assets $ 129,125 Total Liabilities and Stockholders' Equity $ 129,125 *** Interest payable Jan. 1 and July 1 $ 29 30 Inventory balance is: 21 4000 units at $1.50 each 32 3600 units at $1.55 each 33 Total Inventory 34 6,000 5,580 11,580 s 36 LU ACCg Worksheet Income stem Statement of the Journal Entries Account Names Credit JE # 1 Interest Payable Cash Debit 2,000 2,000 2 Salaries & Wages payable Salaries & wages expense 400 550 cash 950 3 Accounts receivable Sales 60,000 60,000 1,300 4 Supplies Accounts payable 1,300 3,200 5 Purchase Accounts payable 3,200 41,600 6 Accounts receivable Sales 41,600 5,600 7 Allowance for doubtful accounts Accounts receivable 5,600 2,000 8 Interest expense Cash 2,000 4,050 9 Purchase Accounts payable 4,050 G 10 Accounts receivable Allowance for doubtful accounts 1,400 1.400 10B Cash Accounts receivable 1,400 1,400 11 Salaries & wages expense Cash 72,000 72,000 12 Pre-Paid Insurance cash 6,600 6,600 13 Accounts receivable Sales 57,750 57.750 14 Cash Accounts receivable 87,800 87,800 15 Purchase Accounts payable 6,270 6,270 10,300 16 Accounts payable Cash 10,300 7,750 17 Cash Sales 7,750 18. Selling expense Administrative expense Cash 1,600 3,850 5.450 LIDUI DUMTI UMLU ULU 2013 JOUERLAIN 1-ACCOUNT Accounting Worksheet Income Statem G H A 19 Dividend Cash C 6,000 6,000 20 Note receivable Sales 55,000 55,000 Export Summary Balance Sheet Dec 2019 Journal Entries T-Accounts Accounting Worlashnet Income Statement Statement D F a Accounting Worksheet Unadjusted Trial Balance Debit Credit Adjusting Journal Entries Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Account Name Cash Accounts Receivable Allowance for Doubtful Accounts Note Receivable, Short Term Interest Receivable Inventory Prepaid Insurance Supplies Note Receivable Long Term Premium on Note Receivable Building Accumulated Depreciation - Build Equipment Accumulated Depreciation - Equip Accounts Payable Interest Payable Salary and Wages Payable Bonds Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances Cost of Goods Sold Selling Expenses Administrative Expenses Salary and Wages Expense Interest Expense Depreciation Expense - Equipment Cost of Goods Sold 29 Selling Expenses 30 Administrative Expenses Salary and Wages Expense Interest Expense Depreciation Expense - Equipment Depreciation Expense - Building Bad Debt Expense Insurance Expense Supplies Expense a Interest Revenue Dividends 10 41 Income Tax Expense Income Tax Payable 47 Totals Income before Income Taxes Income Tax Expense (30%) Net Income 40 50 14 Adjusting Journal Entries: 1. Prepaid insurance expires evenly each month. 2. A count of supplies at year end revealed $480 of supplies on hand. 3. Interest is recorded on the long-term note receivable. 4. Interest is recorded on the Bonds Payable. 5. Depreciation on the equipment is calculated using the sum-of-years-digits method. The salvage value is $2,000, life is 10 years, and 4 years are depreciated as of Dec. 31, 2019. 6. Depreciation on the building is calculated using the straight-line method. The salvage value is $10,000, life is 30 years, and 10 years are depreciated as of Dec. 31, 2019. 7. Salaries and wages payable at year end amounted to $800. 8. Dresser performed an aging analysis of its year end Accounts Receivable as follows: 0-30 days 31-60 days 61-90 days > 90 days A/R Balance % $ (balance) 60% 20% 10% 10% % Uncollectible 10% 30% 50% 70% 9. Income tax is recorded at $25,916