The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Read the requirements Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.] a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Date (a) Dec. 31) Accounts and Explanation Insurance Expense Prepaid Insurance To record insurance expense. b. At the end of the month, Middletown had $500 of office supplies remaining. Date Accounts and Explanation (b) Dec. 31 Supplies Expense Office Supplies c. Depreciation on the building is $1,500. Date (c) Dec. 31 Debit Credit 900 Debit Credit 500 Accounts and Explanation Debit Credit Data Table 900 500 Middletown Inn Company Unadjusted Trial Balance d. Middletown pays its employees week December 31, 2016 Wednesday this year. Balance Date (d) Dec. 31 Account Title Cash Debit Credit $ 11,800 Accounts Receivable 14,200 Prepaid Insurance 4,100 Office Supplies 1,300 Building 518,000 e. On November 20, Middletown contrad Revenue. As of December 31, Middletow this receipt of cash as Unearned Accumulated Depreciation-Building $ 240,000 Accounts Payable 1,980 Date Salaries Payable (e) Dec. 31 Unearned Revenue Calabretti, Capital 3,200 295,210 Calabretti, Withdrawals 2,100 Service Revenue 14,800 Salaries Expense 3,100 Requirement 2. The four-column ledger Insurance Expense sting entries to the ledger accounts. a. As of December 31, Middletown had Review the journal entry you prepared in PREPAID INSURANCE Depreciation Expense-Building Advertising Expense 590 Supplies Expense 555,190 $ 555,190 Total nata Itam Choose from any list or enter any num Print Done The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the adjustment data.) (Click the icon to view the unadjusted trial balance.) Read the requirements. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. As of December 31, Middletown had $900 of Prepaid Insurance remaining Date Accounts and Explanation (a) Dec. 31 Insurance Expense Prepaid Insurance To record insurance expense. b. At the end of the month, Middletown had $500 of office supplies remaining. Date Accounts and Explanation (b) Dec. 31 Supplies Expense Office Supplies c. Depreciation on the building is $1,500. Date (c) Dec. 31 Accounts and Explanation More Info Debit Credit 900 Debit Credit 500 Debit Credit 900 500 d. Middletown pays its employees v Date (d) Dec. 31 Adjustment data at December 31 follow: a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. b. At the end of the month, Middletown had $500 of office supplies remaining c. Depreciation on the building is $1,500. d. Middletown pays its employees weekly on Friday. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year. e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned Print Done dnesday this year. e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned. Date (e) Dec. 31 Accounts and Explanation Debit Credit Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. PREPAID INSURANCE nate Itam Dnet Ref Dahit Cradit Balance nahit Cradit Choose from any list or enter any number in the input fields and then continue to the next question. The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Read the requirements. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Date (a) Dec. 31 Accounts and Explanation Insurance Expense Prepaid Insurance To record insurance expense. b. At the end of the month, Middletown had $500 of office supplies remaining. Date (b) Dec. 31 Accounts and Explanation Supplies Expense Office Supplies c. Depreciation on the building is $1,500. Date (c) Dec. 31 Debit Credit 900 Debit Credit 500 Accounts and Explanation Debit Credit 900 500 d. Middletown pays its employees weekly on Friday. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year. Date Accounts and Explanation Debit Credit (d) Dec. 31 e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Revenue. As of December 31, Middletown has $2,100 still unearned. Date (e) Dec. 31 Accounts and Explanation Debit Credit Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledg a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the adjustment data.) (Click the icon to view the unadjusted trial balance.) Read the requirements. Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Date Accounts and Explanation (a) Dec. 31 Insurance Expense Prepaid Insurance To record insurance expense. b. At the end of the month, Middletown had $500 of office supplies remaining. Date Accounts and Explanation (b) Dec. 31 Supplies Expense Office Supplies c. Depreciation on the building is $1,500. Date (c) Dec. 31 Debit Credit 900 Debit Credit 500 Accounts and Explanation Debit Credit 900 500 d. Middletown pays its employees weekly on Friday. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year. Date Accounts and Explanation Debit Credit (d) Dec. 31 e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned. Date (e) Dec. 31 Accounts and Explanation Debit Credit Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. PREPAID INSURANCE nate Itam Dnet Ref nahit Credit Dahit Choose from any list or enter any number in the input fields and then continue to the next question. Balance Credit The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Read the requirements. Office Supplies c. Depreciation on the building is $1,500. Date (c) Dec. 31 Accounts and Explanation Debit Credit 500 d. Middletown pays its employees weekly on Friday. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year. Date Accounts and Explanation Debit Credit (d) Dec. 31 e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned. Date (e) Dec. 31 Accounts and Explanation Debit Credit Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. PREPAID INSURANCE Date 2016 Dec. 31 Balance Dec. 31 (a) INSURANCE EXPENSE 2016 Date Balance Item Post. Ref. Debit Credit Debit Credit 4,100 Balance Item Post. Ref. Debit Credit Debit Credit Dec. 31 Dec. 31 Balance (a) b. At the end of the month, Middletown had $500 of office supplies remaining. Review the journal entry you prepared in Requirement 1. Choose from any list or enter any number in the input fields and then continue to the next question. 0 The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Read the requirements. Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to the ledger accounts. a. As of December 31, Middletown had $900 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. PREPAID INSURANCE Date 2016 Dec. 31 Balance Dec. 31 INSURANCE EXPENSE Date 2016 Dec. 31 Balance Item Post. Ref. Debit Credit Debit Credit 4,100 Balance Item Post. Ref. Debit Credit Debit Credit Dec. 31 Balance (a) b. At the end of the month, Middletown had $500 of office supplies remaining. Review the journal entry you prepared in Requirement 1. OFFICE SUPPLIES Date 2016 Dec. 31 Balance Dec. 31 (b) SUPPLIES EXPENSE 2016 Date Dec. 31 Balance Dec. 31 (b) 0 Balance Item Post. Ref. Debit Credit Debit Credit 1,300 Balance Item Post. Ref. Debit Credit Debit Credit c. Depreciation on the building is $1,500. Review the journal entry you prepared in Requirement 1. ACCUMULATED DEPRECIATION-BUILDING Date 2016 Dec. 31 Balance Dec. 31 (c) 0 Balance Item Post. Ref. Debit Credit Debit Credit DEPRECIATION EXPENSE-BUILDING 240,000 The unadjusted trial balance of Middletown Inn Company at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Read the requirements. DEPRECIATION EXPENSE-BUILDING 2016 Date Dec. 31 Balance Dec. 31 (c) Balance Item Post. Ref. Debit Credit Debit Credit d. Middletown pays its employees on Friday for the weekly salaries. Its employees earn $3,000 for a five-day workweek. December 31 falls on Wednesday this year Review the journal entry you prepared in Requirement 1. SALARIES PAYABLE Date 2016 Dec. 31 Balance Dec. 31 (d) SALARIES EXPENSE Date 2016 Dec. 31 Dec. 31 Balance (d) Balance Item Post. Ref. Debit Credit Debit Credit Balance Item Post. Ref. Debit Credit Debit Credit 3,100 0 e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned. Review the journal entry you prepared in Requirement 1. UNEARNED REVENUE Date 2016 Dec. 31 Dec. 31 Balance (e) SERVICE REVENUE Date 2016 Dec. 31 Dec. 31 Balance (e) Balance Item Post. Ref. Debit Credit Debit Credit 3,200 Balance Item Post. Ref. Debit Credit Debit Credit Requirement 3. Prepare the adjusted trial balance. Review the ledger accounts. Middletown Inn Company 14,800 e. On November 20, Middletown contracted to perform services for a client receiving $3,200 in advance. Middletown recorded this receipt of cash as Unearned Revenue. As of December 31, Middletown has $2,100 still unearned. Review the journal entry you prepared in Requirement 1. UNEARNED REVENUE Date 2016 Dec. 31 Dec. 31 Balance (e) SERVICE REVENUE Date 2016 Dec. 31 Balance Dec. 31 (e) Balance Item Post. Ref. Debit Credit Debit Credit 3,200 Balance Item Post. Ref. Debit Credit Debit Credit Requirement 3. Prepare the adjusted trial balance. Review the ledger accounts. Middletown Inn Company Account Title Adjusted Trial Balance December 31, 2016 Balance Debit Credit 14,800 Total Requirement 4. Assuming the adjusted trial balance total debits equals total credits, does this mean that the adjusting entries have been recorded correctly? Expla recorded for the incorrect amount the debit and the credit amount is the same. Choose from any list or enter any number in the input fields and then continue to the next question. An adjusting entry