plz

The following unadjusted trial balance is prepared at fiscal year-end 2017 for ABC Company. Unadjusted Trial Balance Dr Cr Cash 10,200 Account receivables 9,200 Merchandise Inventory 21,250 Supplies 3,800 Prepaid Insurance 900 Equipment 34,200 Accumulated depr. - Equip. 3,700 Account payable 16,000 Salaries payable Capital 42,600 Withdrawals 4,000 Sales 321,000 Sales returns and allowances 2,000 Sales discounts 4,300 Cost of goods sold 230,150 Depreciation expense - Equip. Salaries expense 43,000 Insurance expense Rent expense 9,000 Supplies expense Advertising expense 11,300 TOTALS 383,300 383,300 Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. ABC Company uses a perpetual inventory system. Required 1.1. Prepare adjusting journal entries to reflect each of the following (15 points) (a) Expired insurance, an administrative expense, for the fiscal year is $500. 1 Salaries expense 43,000 Insurance expense Rent expense 9,000 Supplies expense Advertising expense 11,300 TOTALS 383,300 383,300 Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. ABC Company uses a perpetual inventory system. Required 1.1. Prepare adjusting journal entries to reflect each of the following (15 points) (a) Expired insurance, an administrative expense, for the fiscal year is $500. 1 (b) Use of $3,200 of supplies. () Depreciation expense on store equipment, a selling expense, is $3,700 for the fiscal year. (d) Accrual of $1,000 of unpaid salaries. (e) To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows inventory shrinkage of $500. 1.2. Prepare a multiple-step income statement for fiscal year 2017 (15 points)