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 10,718
TOTAL: 14,712	TOTAL: 14,712		TOTAL: 2,712	TOTAL: 2,712
Prepaid Insurance (117)			Store Rent Expense (511)
			To Cash 1,040	By Balance TRF to P/L Acct. 1,040
			TOTAL: 1,040	TOTAL: 1,040
Repair Supplies (119)			Utility Expense (512)
			To Cash 154	By Balance TRF to P/L Acct. 154
			TOTAL: 154	TOTAL: 154
Repair Equipment (144)			Insurance Expense (513)
			To Cash 1,200	By Balance TRF to P/L Acct. 1,200
			TOTAL: 1,200	TOTAL: 1,200
Accum. 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: 4,190	TOTAL: 4,190		TOTAL: 200	TOTAL: 200
Income Taxes Payable (213)			Income Taxes Expense (516)
Common Stock (311)
Balance C/D 12,000	By Cash 12,000
Total: 12,000	TOTAL: 12,000
Retained Earnings (312)
Dividends (313)
To Cash: 800	By TRF to Retained Earnings Acct. 800
TOTAL: 800	TOTAL: 800