prepare an adjusted trial balance!

FAST DELIVERIES, INCORPORATED Balance Sheet at January 1 Assets: Liabilities: Cash $ 12,100 Accounts Payable $ 700 Accounts Receivable 710 Stockholders' Equity: Supplies 330 Common Stock 11,93e Retained Earnings 510 Total Assets $ 13, 140 Total liabilities and Stockholders' Equity $ 13, 140 Two employees have been hired, at a monthly salary of $2,700 each. The following transactions occurred during January of the current year January 1 2 3 4 5 6 7 8 9 10 16 20 25 $4,200 is paid for 12 months' insurance starting January 1. (Record as an asset.) $4,800 is paid for 12 months of rent beginning January 1. (Record as an asset.) FDI borrows $28,800 cash from First State Bank at 5% annual interest; this note is payable in Adelivery van is purchased bs ing cash. Including tax, the total cost was $24,900. Stockholders contribute $8,000 of additional cash to FDI for its common stock. Additional supplies costing $900 are purchased on account and received. $500 of accounts receivable arising from last year's December sales are collected. 5400 of accounts payable from December of last year are paid. Performed services for customers on account. Sent invoices totaling $10,500. $7,988 of services are performed for customers who paid immediately in cash. $2,700 of salaries are paid for the first half of the month. FOI receives $4,000 cash from a customer for an advance order for services to be provided later in January and in February. $4,200 is collected from customers on account (see January 9 transaction). Additional information for adjusting entries: A $800 bill arrives for January utility services. Payment is due February 15. Supplies on hand on January 31 are counted and determined to have cost $240. As of January 31, FOI had completed 60% of the deliveries for the customer who paid in advance on January 20 Accrue one month of interest on the bank loan. Yearly interest is determined by multiplying the amount borrowed by the annual interest rate (expressed as 0.05). For convenience, calculate January Interest as one twelfth of the annual Interest. Assume the van wll be used for 4 years, after which it will have no volve. Thus, each year, one-fourth of the van's benefits will be used up, which implies annual depreciation equal to one-fourth of the van's total cost. Record depreciation for the month of January, equal to one- twelfth of the annual depreciation expense. Salaries earned by employees for the period from January 16 to 31 are $1,350 per employee and will be paid on February 3. Adjust the prepaid asset accounts (for rent and insurance) as needed. January 31a. 3lb. 31c. 31d. 3le. 317 31g FAST DELIVERIES, INCORPORATED Adjusted Trial Balance At January 31 Debit Credit Account Titles Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Vehicles Accumulated Depreciation Accounts Payable Deferred Revenue Salaries and Wages Payable Interest Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Supplies Expenses Depreciation Expense Insurance Expense Rent Expense Interest Expense Totals $ 0 $