Recording Adjusting Entries Using the Financial Statement Effects Template $($FSET$)$ Recording Adjusting Entries Using the Financial Statement Effects Template $($FSET$)$

Murdock Carpet Cleaners ended its first month of operations on June $30.$ Monthly financial statements will be prepared. The unadjusted account balances are as follows

$\backslash$table$[[\backslash$table$[[$MURDOCK CARPET CLEANERS$],[$Unadjusted Trial Balance$],[$June $30]]],[,$Debit,Credit$],[$Cash$,$$$2,950,],[$Accounts Receivable,$1,130,],[$Prepaid Insurance,$7,740,],[$Supplies$,6,300,],[$Equipment$,11,100,],[$Accounts Payable,,$$1,900],[$Common Stock,,$5,000],[$Retained Earnings,,$13,240],[$Service fees revenue,,$11,630],[$Wages Expense,$2,550,],[$$$31,770,$$$31,770]]$

The following information is available.

The balance in Prepaid insurance was the amount paid on June $1$ for the first four months' insurance.

Supplies available at June $30$ were $$2,050.$

Equipment, purchased June $1,$ has an estimated life of five years.

Unpaid and unrecorded employee wages at June $30$ were $$525.$

Utility services used during June were estimated at $$750.$ A bill is expected early in July.

Fees earned for services performed but not yet billed on June $30$ were $$950.$ The company uses the account Accounts Receivable to reflect amounts due but not yet billed.

REQUIRED

Prepare its adjusting entries at June $30$ using the financial statement effects template.

Note: Use negative signs with your answers, when appropriate.

Note: Select $"$N$/$A$"$ as your answer if a part of the accounting equation is not affected.

Murdock Carpet Cleaners ended its $$rst month of operations on June $30.$ Monthly $$nancial statements will be prepared. The unadjusted account balances are as follows

MURDOCK CARPET CLEANERS

Unadjusted Trial Balance

June $30$

Debit Credit

Cash $$2,950$

Accounts Receivable $1,130$

Prepaid Insurance $7,740$

Supplies $6,300$

Equipment $11,100$

Accounts Payable $$1,900$

Common Stock $5,000$

Retained Earnings $13,240$

Service fees revenue $11,630$

Wages Expense $2,550$

$$31,770$ $$31,770$

The following information is available.

$1.$ The balance in Prepaid insurance was the amount paid on June $1$ for the $$rst four months$$ insurance.

$2.$ Supplies available at June $30$ were $$2,050.$

$3.$ Equipment, purchased June $1,$ has an estimated life of $$ve years.

$4.$ Unpaid and unrecorded employee wages at June $30$ were $$525.$

$5.$ Utility services used during June were estimated at $$750.$ A bill is expected early in July.

$6.$ Fees earned for services performed but not yet billed on June $30$ were $$950.$ The company uses the account Accounts Receivable to re$$ect amounts due but not yet billed.

REQUIRED

Prepare its adjusting entries at June $30$ using the financial statement effects template.

$$ Note: Use negative signs with your answers, when appropriate.

$$ Note: Select $"$N$/$A$"$ as your answer if a part of the accounting equation is not affected.