U Search this co 9: Adjusting Entries WE AAB 1. Open and review your previously customized report named Trial Balance 1/31/18. 2. Record the appropriate adjusting journal entries on 1/31/18 based on the following: a. An inventory of supplies reveals that only $75 of supplies remain as of 1/31/18. b. $800 of prepaid expenses expired (representing prepaid rent) in the month of January c. A bill for $150 was received and recorded in the next month for repairs and maintenance consumed in the current month. Create a new liability account as you did earlier in the chapter. d. Consulting services recorded on sales receipt #1004 for $2,500.00 to Surf Rider Foundation were never performed even though cash had been received. Thus, the revenue had not been earned. Create a new liability account as you did earlier in the chapter. e. Consulting services of $8,500 were performed on the last day of the month for a new customer: Blazing Boards but not invoiced to the customer or recorded into the accounting records until a few days into the next month. Create a new asset account as you did earlier in the chapter. f. Depreciation Expense of $575 (575 and $500 for Equipment and Furniture & Fixtures, respectively) needed to be recorded for the month. Before recording this journal entry, edit the "Depreciation" expense account so that the new name is "Depreciation Expense." Also, change the account title for Furniture & Fixtures accumulated depreciation from "Depreciation" to "Accumulated Depreciation" as you did earlier in the chapter. 3. Open, print, and export to Excel your previously customized report named Trial Balance 1/31/18, which should now reflect your adjusting journal entries. 4. Open, print, and export to Excel your previously customized report named Transaction Detail by Account, which should now reflect your adjusting journal entries. Case 2 Neste timewa din inimalantan Daradan lamain that TRIAL BALANCE As of January 31, 2018 DEBIT CREDIT 26,239.28 18,550.00 2,700.00 8,000.00 375.00 5,000.00 3,175.00 10,000.00 Checking Accounts Receivable Inventory Asset Prepaid Expenses Supplies Asset Undeposited Funds Equipment:Original cost Original Cost:Depreciation Original Cost:Original cost Investments Accounts Payable VISA Payroll Tax Payable Notes Payable Common Stock Opening Balance Equity Retained Earnings 40,000.00 4,000.00 7,645.00 1,800.00 3,174.99 66,800.00 21,000.00 0.00 5,000.00 17,180.00 2,670.00 Sales Services Cost of Goods Sold Interest Expense Payroll Rent & Lease 10,400.00 600.00 11,785.71 2,500.00 1,800.00 145.00 $135,269.99 Travel Utilities TOTAL $135,269.99 U Search this co 9: Adjusting Entries WE AAB 1. Open and review your previously customized report named Trial Balance 1/31/18. 2. Record the appropriate adjusting journal entries on 1/31/18 based on the following: a. An inventory of supplies reveals that only $75 of supplies remain as of 1/31/18. b. $800 of prepaid expenses expired (representing prepaid rent) in the month of January c. A bill for $150 was received and recorded in the next month for repairs and maintenance consumed in the current month. Create a new liability account as you did earlier in the chapter. d. Consulting services recorded on sales receipt #1004 for $2,500.00 to Surf Rider Foundation were never performed even though cash had been received. Thus, the revenue had not been earned. Create a new liability account as you did earlier in the chapter. e. Consulting services of $8,500 were performed on the last day of the month for a new customer: Blazing Boards but not invoiced to the customer or recorded into the accounting records until a few days into the next month. Create a new asset account as you did earlier in the chapter. f. Depreciation Expense of $575 (575 and $500 for Equipment and Furniture & Fixtures, respectively) needed to be recorded for the month. Before recording this journal entry, edit the "Depreciation" expense account so that the new name is "Depreciation Expense." Also, change the account title for Furniture & Fixtures accumulated depreciation from "Depreciation" to "Accumulated Depreciation" as you did earlier in the chapter. 3. Open, print, and export to Excel your previously customized report named Trial Balance 1/31/18, which should now reflect your adjusting journal entries. 4. Open, print, and export to Excel your previously customized report named Transaction Detail by Account, which should now reflect your adjusting journal entries. Case 2 Neste timewa din inimalantan Daradan lamain that TRIAL BALANCE As of January 31, 2018 DEBIT CREDIT 26,239.28 18,550.00 2,700.00 8,000.00 375.00 5,000.00 3,175.00 10,000.00 Checking Accounts Receivable Inventory Asset Prepaid Expenses Supplies Asset Undeposited Funds Equipment:Original cost Original Cost:Depreciation Original Cost:Original cost Investments Accounts Payable VISA Payroll Tax Payable Notes Payable Common Stock Opening Balance Equity Retained Earnings 40,000.00 4,000.00 7,645.00 1,800.00 3,174.99 66,800.00 21,000.00 0.00 5,000.00 17,180.00 2,670.00 Sales Services Cost of Goods Sold Interest Expense Payroll Rent & Lease 10,400.00 600.00 11,785.71 2,500.00 1,800.00 145.00 $135,269.99 Travel Utilities TOTAL $135,269.99