Requirement #5: Post the adjusting entries on October 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed.

General Journal
Date	Description (Account Name)	Debit	Credit
31-Oct	Prepaid Insurance	1,200
Insurance Expense	1,200
31-Oct	Repair Supplies Expense	194
Repair Supplies	194
31-Oct	Depreciation Expense	70
Accumulated Depreciation	70
31-Oct	Tax Expense	40
Tax Payable	40
1,504	1,504

GENERAL LEDGER INFORMATION:

Cash (111)Bicycle Repair Revenue (411) Common Stock 12,000 Insurance Expense 12,000 To TRF to P/L Acct. 2,712 By Cash 1,362 Bicycle Repair Revenue 1,362 Store Rent Expense 1,040 By Cash 1,350 Bicycle Repair Revenue 1,350 Equipment 600 Utility Expense 154 Dep-Expense Repair Equipment 200 Dividends 800 By Cash C/D 10,718TOTAL: 14,712TOTAL: 14,712TOTAL: 2,712TOTAL: 2,712Prepaid Insurance (117)Store Rent Expense (511) To Cash 1,040 By Balance TRF to P/L Acct. 1,040 TOTAL: 1,040TOTAL: 1,040Repair Supplies (119)Utility Expense (512) To Cash 154 By Balance TRF to P/L Acct. 154 TOTAL: 154TOTAL: 154Repair Equipment (144)Insurance Expense (513) To Cash 1,200 By Balance TRF to P/L Acct. 1,200 TOTAL: 1,200TOTAL: 1,200Accum. Depr.-Repair Equipment (145)Repair Supplies Expense (514)Accounts Payable (212)Depr. Exp.-Repair Equipment (515) To TRFD to Balance Sheet 4,190 By Repair Supplies 390 To Cash 200 By TRF to P/L Acct. 200 By Equipment 4,190 TOTAL: 4,190TOTAL: 4,190TOTAL: 200TOTAL: 200Income Taxes Payable (213)Income Taxes Expense (516)Common Stock (311) Balance C/D 12,000 By Cash 12,000 Total: 12,000TOTAL: 12,000Retained Earnings (312)Dividends (313) To Cash: 800 By TRF to Retained Earnings Acct. 800 TOTAL: 800TOTAL: 800