Question 2 of 8 > -/12 Reyes Rides is owned by Jason Reyes. The company has an August 31 fiscal year end and prepares adjustments on an annual basis. The following is an alphabetical list of its accounts at August 31, 2021, before adjustments. All accounts have normal balances. Accounts Payable $5,660 Accounts Receivable 7,200 25,500 Accumulated Depreciation-Equipment Accumulated Depreciation-Vehicles 175,250 Cash 9,300 Equipment 40.800 24.200 Fuel Expense 9,680 Interest Expense J. Reyes, Capital 105.250 140.500 J. Reyes, Drawings Notes Payable 162.000 12.600 Prepaid Insurance 23,140 Rent Expense Canine ynense 140.710 334,060 4,410 Service Revenue Supplies Unearned Revenue Vehicles 25,420 420,600 Additional information: 1. 2 3. 4. On August 31, a physical count shows $680 of supplies on hand. The insurance policy has a one-year term that began on November 1, 2020. The equipment has an estimated useful life of 10 years. The vehicles have an estimated useful life of 12 years. The company collects cash in advance for any special services requested by customers. As at August 31, the company has provided all but $4,540 of these services. The note payable has an annual interest rate of 7%, Interest is paid on the first day of each month. Employees are paid a combined total of $520 per day. At August 31, 2021, five days of salaries are unpaid. On August 31, the company provided $1.280 of services for a senior citizens' group. The group was not billed for the services until September 2 Additional fuel costs of $600 have been incurred but not recorded. (Use the Accounts Payable account) 5. 6. 7. 8 8. Prepare accounts and enter the ranjostedtrat batance amounts (most entries in the order displayed in the problem statement.) Cash Accounts Receivable Prepaid Insurance Supplies Vehicles Accumulated Depreciation-Vehicles . Equipment Accumulated Depreciation Equipment a Accounts Payable Notes Payable . Accumulated Depreciation-Vehicles Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable Unearned Revenue J. Reyes, Capital J. Reyes, Drawings Service Revenue Salaries Expense Interest Expense Rent Expense Fuel Expense --- 11 titles are automatically indented w entered. Do not indent manually. Round answers to the nearest whole dollar, 2.8. 5.275. Ir no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Aug. 31 2 Aug. 31 4 . 3. Aug. 31 . . (To record depreciation for equipment.) Aug. 31 (To record depreciation for vehicles.) 4. Aug. 31 5. Aug. 31 6. Aug. 31 7. Aug. 31 8. Aug. 31 Post the adjusting entries. (Post entries in the order of journal entries presented in the previous part.) Cash Aug. 31 9.300 Accounts Receivable Aug. 31 7.200 Prepaid Insurance Aug. 31 12,600 Supplies Aug 31 4,410 . Vehicles Aug 31 420,600 Accumulated Depreciation Vehicles Aug. 31 175,250 Equipment Aug 31 40.800 Accumulated Depreciation-Equipment Aug. 31 25,500 Accounts Payable Aug. 31 5.660 Notes Payable Aug. 31 162.000 Unearned Revenue Aug. 31 25,420 Interest Payable Salaries Payable J. Reyes, Capital Aug 31 105,250 J. Reyes, Drawings Aug. 31 140,500 Service Revenue Aug 31 334,060 Salaries Expense Aug. 31 140.710 4 . Interest Expense Aug. 31 9,680 Rent Expense Aug. 31 23,140 Fuel Expense Aug. 31 24,200 Insurance Expense Depreciation Expense LE Supplies Expense REYES RIDES Adjusted Trial Balance Debit Credit $ : : . Totals $ $
