RECORD ADJUSTING ENTRIES

SUPPORTING INFORMATION

Dr means Debit ,Cr means Credit

There is also a picture of the reference numbers for the transactions

Before you prepare the eight adjusting journal entries below in an Excel spreadsheet, please make sure corrections have been made to any previous journal entries. The following are the adjusting journal entries for the month of January. Record all adjusting entries as of January 31, 2021. Record Adjusting Entries: Record the following month-end adjusting entries for the month of January. Write the journal entries in the practice set after the original journal entries. Round all answers to the nearest cent. a. $70 of office supplies remained on hand. b. $200 of shipping supplies remained on hand. c. $1,300 of wages for the part-time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these. d. Make the necessary adjusting entries for one month's depreciation for the Computer Equipment using Straight-Line Depreciation. e. Make the necessary adjusting entry for one month's depreciation for the Bike Racks using Straight-Line Depreciation. f. One month of the prepaid insurance has expired. g. One month of the prepaid rent has expired. h. Record the interest for the loan from Wells Fargo for one month. Make sure you prepare the journal entries and the adjusting entries and write them in the practice set. Follow the same instructions for the adjusting journal entries that you did in part one. Once the adjusting entries have been completed in the spreadsheet use the spreadsheet to answer the questions in Blackboard then upload the spreadsheet to Blackboard. Follow these instructions. Step 1: Enter the adjusting journal entries in an Excel spreadsheet and print it out. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard the content folder in the corresponding week. Step 3: Once you complete entering information into Blackboard upload the spreadsheet into Blackboard, F I j K A B D E G 1 7 Dr 15000 $14,000.00 Cr 10000 $14,000.00 8 Dr 15100 $750.00 Cr 10000 $750.00 9 Dr 13000 $450.00 Cr 10000 $450.00 10 Dr 12000 $8,000.00 Cr 20000 $8,000.00 11 Dr 12050 $6,000.00 Cr 20000 $6,000.00 Dr 60800 $940.00 C 10000 $940.00 12 13 No JE 14 Dr 10000 $12,124.00 Cr 23300 $924.00 Cr 40000 $11,200.00 Dr 50000 $5,600.00 Cr 12000 $4,000.00 Cr 12050 $1,600.00 15 Dr 60500 $250.00 Cr 10000 $250.00 16 Dr 12000 $4,900.00 Cr 20000 $4,900.00 17 Dr 10000 $12,557.00 Cr 23300 $957.00 Cr 40000 $11,600.00 Dr 50000 $5,800.00 Cr 12000 $5,000.00 Cr 12050 $800.00 18 Dr 60400 $200.00 Cr 10000 $200.00 19 NO JE 20 Dr 60100 $800.00 Cr 20000 $800.00 21 Dr 20000 $800.00 Cr 10000 $800.00 22 Dr 20000 $6,000.00 Cr 10000 $6,000.00 23 Dr 10000 $8,227.00 Cr 23300 $627.00 Cr 40000 $7,600.00 Dr 50000 $3,800.00 Cr 12000 $1,000.00 Cr 12050 $2,800.00 24 Dr 20000 $12,900.00 Cr 10000 $12,900.00 25 Dr 61400 $445.00 Cr 23400 $445.00 26 Dr 27050 $866.67 Dr 60700 $43.33 Cr 10000 $910.00 27 Dr 12000 $7,500.00 Dr 12050 $4,000.00 Cr 20000 $11,500.00 28 Dr 10000 $17,320.00 Cr 23300 $1,320.00 Cr 40000 $16,000.00 Dr 50000 $8,000.00 Cr 12000 $6,000.00 Cr 12050 $2,000.00 29 Dr 39007 $650.00 Cr 10000 $650.00 30 Dr 23300 $3,828.00 Cr 10000 $3,828.00 31 32 33 Current Assets 10000 Cash 11000 Accounts Receivable 12000 Inventory - 26" Bikes 12050 Inventory - 20" Bikes 13000 Office Supplies 13050 Shipping Supplies 14000 Prepaid Rent 14050 Prepaid Insurance Current Liabilities 20000 Accounts Payable 23200 Wages Payable 23250 Interest Payable 23300 Sales Tax Payable 23400 Utility Payable 27000 Note Payable - Wells Fargo Bank 27050 Note Payable - Computer Inc. Stockholders' Equity 39003 Common Stock 39005 Retained Earnings 39007 Dividends Long-Term Assets 15000 Bike Racks 17000 Accumulated Depreciation - Bike Racks 15100 Computer Equipment 17100 Accumulated Depreciation - Computer Equipment Revenue 40000 Sales Expenses 50000 60100 60200 60300 60400 60500 60600 60700 Cost of Goods Sold Advertising and Promotion Expense Bank Service Fee Credit Card Expense Dues & Registration Fees Delivery Expense Insurance Expense Interest Expense 60800 60900 61000 61100 61200 61300 61400 61500 Legal Expense Office Supplies Expense Shipping Supplies Expense Depreciation Expense Rent Expense Wage Expense Utility Expense Gas Expense Before you prepare the eight adjusting journal entries below in an Excel spreadsheet, please make sure corrections have been made to any previous journal entries. The following are the adjusting journal entries for the month of January. Record all adjusting entries as of January 31, 2021. Record Adjusting Entries: Record the following month-end adjusting entries for the month of January. Write the journal entries in the practice set after the original journal entries. Round all answers to the nearest cent. a. $70 of office supplies remained on hand. b. $200 of shipping supplies remained on hand. c. $1,300 of wages for the part-time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these. d. Make the necessary adjusting entries for one month's depreciation for the Computer Equipment using Straight-Line Depreciation. e. Make the necessary adjusting entry for one month's depreciation for the Bike Racks using Straight-Line Depreciation. f. One month of the prepaid insurance has expired. g. One month of the prepaid rent has expired. h. Record the interest for the loan from Wells Fargo for one month. Make sure you prepare the journal entries and the adjusting entries and write them in the practice set. Follow the same instructions for the adjusting journal entries that you did in part one. Once the adjusting entries have been completed in the spreadsheet use the spreadsheet to answer the questions in Blackboard then upload the spreadsheet to Blackboard. Follow these instructions. Step 1: Enter the adjusting journal entries in an Excel spreadsheet and print it out. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard the content folder in the corresponding week. Step 3: Once you complete entering information into Blackboard upload the spreadsheet into Blackboard, F I j K A B D E G 1 7 Dr 15000 $14,000.00 Cr 10000 $14,000.00 8 Dr 15100 $750.00 Cr 10000 $750.00 9 Dr 13000 $450.00 Cr 10000 $450.00 10 Dr 12000 $8,000.00 Cr 20000 $8,000.00 11 Dr 12050 $6,000.00 Cr 20000 $6,000.00 Dr 60800 $940.00 C 10000 $940.00 12 13 No JE 14 Dr 10000 $12,124.00 Cr 23300 $924.00 Cr 40000 $11,200.00 Dr 50000 $5,600.00 Cr 12000 $4,000.00 Cr 12050 $1,600.00 15 Dr 60500 $250.00 Cr 10000 $250.00 16 Dr 12000 $4,900.00 Cr 20000 $4,900.00 17 Dr 10000 $12,557.00 Cr 23300 $957.00 Cr 40000 $11,600.00 Dr 50000 $5,800.00 Cr 12000 $5,000.00 Cr 12050 $800.00 18 Dr 60400 $200.00 Cr 10000 $200.00 19 NO JE 20 Dr 60100 $800.00 Cr 20000 $800.00 21 Dr 20000 $800.00 Cr 10000 $800.00 22 Dr 20000 $6,000.00 Cr 10000 $6,000.00 23 Dr 10000 $8,227.00 Cr 23300 $627.00 Cr 40000 $7,600.00 Dr 50000 $3,800.00 Cr 12000 $1,000.00 Cr 12050 $2,800.00 24 Dr 20000 $12,900.00 Cr 10000 $12,900.00 25 Dr 61400 $445.00 Cr 23400 $445.00 26 Dr 27050 $866.67 Dr 60700 $43.33 Cr 10000 $910.00 27 Dr 12000 $7,500.00 Dr 12050 $4,000.00 Cr 20000 $11,500.00 28 Dr 10000 $17,320.00 Cr 23300 $1,320.00 Cr 40000 $16,000.00 Dr 50000 $8,000.00 Cr 12000 $6,000.00 Cr 12050 $2,000.00 29 Dr 39007 $650.00 Cr 10000 $650.00 30 Dr 23300 $3,828.00 Cr 10000 $3,828.00 31 32 33 Current Assets 10000 Cash 11000 Accounts Receivable 12000 Inventory - 26" Bikes 12050 Inventory - 20" Bikes 13000 Office Supplies 13050 Shipping Supplies 14000 Prepaid Rent 14050 Prepaid Insurance Current Liabilities 20000 Accounts Payable 23200 Wages Payable 23250 Interest Payable 23300 Sales Tax Payable 23400 Utility Payable 27000 Note Payable - Wells Fargo Bank 27050 Note Payable - Computer Inc. Stockholders' Equity 39003 Common Stock 39005 Retained Earnings 39007 Dividends Long-Term Assets 15000 Bike Racks 17000 Accumulated Depreciation - Bike Racks 15100 Computer Equipment 17100 Accumulated Depreciation - Computer Equipment Revenue 40000 Sales Expenses 50000 60100 60200 60300 60400 60500 60600 60700 Cost of Goods Sold Advertising and Promotion Expense Bank Service Fee Credit Card Expense Dues & Registration Fees Delivery Expense Insurance Expense Interest Expense 60800 60900 61000 61100 61200 61300 61400 61500 Legal Expense Office Supplies Expense Shipping Supplies Expense Depreciation Expense Rent Expense Wage Expense Utility Expense Gas Expense