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Q1 DDC Co, specialized in computer repairs, is owned by John Greenwich. prepared the following trial balance at December 31, 2016 (in S): Unadjusted Trial

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Q1 DDC Co, specialized in computer repairs, is owned by John Greenwich. prepared the following trial balance at December 31, 2016 (in S): Unadjusted Trial Balance, DDC Co. December 31, 2016 Account Name Debit Credit Cash 5,200 Accounts Receivable 16,200 Prepaid Insurance 4,000 Supplies 2,450 Land 134,750 Equipment 135,900 Accumulated Depreciation, Equipment 65,300 Accounts Payable 7,500 Unearned Fee Revenue 6,000 Capital 127,100 Withdrawals 5,000 Revenues 188,400 Salaries Expense 90,800 Total 394,300 394,300 The data needed to determine year-end adjustments are as follows: 1. Depreciation of equipment for the year, $4,000 2. Accrued salaries at December 31, $3,170 3. Unexpired insurance at December 31, $1,900 4. Fees earned but not received at December 31, $6,350 5. Supplies on hand at December 31, $675 6. Unearned Fee Revenue still unearned at December 31, $3,500 7. Interest accrued but not paid at December 31, $1,000 Required: Journalize the adjusting entries from 1 to 7. b) Post the adjusting entries to T-accounts. Prepare the adjusted trial balance. d) Prepare the Income Statement for the year ended Dec 31, 2016. Prepare the Balance Sheet as of Dec. 31, 2016

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