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------------------------------------------------------------------------------- Question 9 adjustments: Fox Enterprises is owned by Edmund Fox and has a January 31 fiscal year end. The company prepares adjusting entries on

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Question 9 adjustments: Fox Enterprises is owned by Edmund Fox and has a January 31 fiscal year end. The company prepares adjusting entries on an annual basis. The following trial balance was prepared before FOX ENTERPRISES Trial Balance January 31, 2017 Debit Credit Cash $4,980 Accounts Receivable 14,590 Prepaid Insurance 3,600 Supplies 6,630 Equipment 31,100 Accumulated Depreciation-Equipment $12,440 Accounts Payable 7,710 Notes Payable 11,200 Unearned Revenue 7,370 E. Fox, Capital 18,270 E. Fox, Drawings 119,300 Service Revenue 213,800 Rent Expense 20,500 Salaries Expense 66,800 Telephone Expense 3,290 $270,790 $270,790Additional information: 1. A one-year insurance policy was purchased on July 1, 2016. 2. A count of supplies on January 31, 2017, shows $870 of supplies on hand. 3. The equipment has an estimated useful life of five years. 4. An analysis of the Unearned Revenue account shows that $5,200 has been earned by January 31, 2017. 5. The eight-month, 5% note was issued on November 1, 2016. Interest and principal are due on the maturity date. 6. Salaries accrued to January 31, 2017, were $1,325. 7. On January 31, 2017, the company had earned but not billed or recorded consulting revenue of $2,660. 8. The telephone bill for January 2017 was $175. It has not been recorded or paid. (Use the Accounts Payable account.)Prepare T accounts and enter the unadjusted trial balance amounts. (Post entries in the order displayed in the problem statement.)Prepare the annual adjusting journal entries on January 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)Post the annual adjusting journal entries on January 31. (Post entries in the order of journal entries presented in the previous part.)Prepare a statement of owner's equity for the year ended January 31. ( List items that increase owner's equity first.)Prepare a balance sheet at January 31, 2017. (List Current Assets in order of liquidity.)

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