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The November 30, 2021, unadjusted trial balance of Zahara Computing is found in the Trial balance tab. Zahara Computing had the following transactions and events
The November 30, 2021, unadjusted trial balance of Zahara Computing is found in the Trial balance tab. Zahara Computing had the following transactions and events in December 2021. December 2 Paid $1,150 cash to Westside Mal1 for Zahara Computing" share of mall advertising costs. December 3 Paid $589 cash for minor repairs to the company's computer. December 4 Received $7,100 cash from Ryan Engineering Co. for the receivable from November. December 10 Paid cash to Daniel Jones for six days of work at the rate of $22 per day. paid a $1,79 cash advance to Zahara Computing. December 15 Purchased $2,409 of computer supplies on credit from walsh office Products. December 16 Sent a reminder to Kuhl Co. to pay the fee for services recorded on November 8. December 2 Completed a project for Perry Corporation and received $8,20 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,40 cash from Kuh1 Co. on its receivable. December 29 Reimbursed Z. Jones for business automobile mileage (65e miles at \$e.32 per mile). December 31 Paid $2,6eb cash for dividends. The following additional facts are collected for use in making adjusting entrles prior to preparing financlal statements for the company's first three months: a. The December 31 Inventory count of computer supplies shows $1,620 still avallable. b. Three months have expired since the 12 -month Insurance premlum was pald In advance. c. As of December 31, Danlel Jones has not been pald for four days of work at $220 per day. d. The computer system, acquired on October 1 , Is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. f. Three of the four months' prepald rent has expired. Prepare journal entries for each of the December transactions. If no journal entry is required, select "No journal entry required" in the first account field. Then, using the 3-step adjusting entry process, and the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. Journal entry worksheet 34567817 Paid $1,150 cash to Westside Mall for Zahara Computing' share of mall advertising costs. Note: Enter debits before credits. Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net incom If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.)
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