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Sean Dominic rents twenty boats in a large dock to fishermen in the Laguna Bay Area. The trial balance of Sean Dominic on December 31,

Sean Dominic rents twenty boats in a large dock to fishermen in the Laguna Bay Area. The trial balance of Sean Dominic on December 31, 2020 is presented below: Sean Dominic Trial Balance December 31, 2020 Cash $ 1,360 Accounts Receivable 2,440 Supplies Inventory 516 Prepaid Insurance 742 Dock 30,600 Accumulated Depreciation, dock $ 5,000 Accounts Payable 1,100 Sean Dominic, Capital 31,023 Sean Dominic, withdrawals 12,000 Boat Rental Income 19,400 Wages Expense Insurance Expense Utility Expense Total Information for adjustments as of December 31, 2020: a. Expired insurance, $346 b. Inventory of supplies still on hand, $ 76 c. Estimated depreciation of dock, $ 2,000 d. Unrecorded utility expense owed at the end of the year, $ 50 7,400 915 550 $ 56,523 $ 56,523 c. Estimated uncollectible accounts, $50 Note: For the debit or credit entry, just write the accounting title, then the amount. Example: interest expense-50.000; interest payable-123,356 BONUS: Adjusting entries for (e), debit: bad debts-50 >>> bad debts is an expense credit: allowance for bad debts-50>>> a contra-accounts receivable title. It is being deducted from the accounts receivable to get Its net amount. Hint: it le treated similar to eccumulated depreciation. REQUIRED: Debit entry for adjustment (a) Credit entry for adjustment (a) Debit entry for adjustment (b) Credit entry for adjustment (b) Debit entry for adjustment (c) Credit entry for adjustment (c) Debit entry for adjustment (d) Credit entry for adjustment (d) Debit entry for adjustment (9) Credit entry for adjustment (e) Debit total of the adjusted trial balance Total assets after adjusting entries Total liabilities after adjusting entries Total expenses after adjusting entries Net Income (net loss) Total current assets in the post closing trial balance Capital balance after closing entries Total assets in the post dosing trial balance Total abilities in the post closing trial balance Debit total of the post closing trial balance

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