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Using the worksheet you completed in Part 1, revise the given year end information with the following values and then answer the questions below: Select
Using the worksheet you completed in Part 1, revise the given year end information with the following values and then answer the questions below: Select year end company accounts and additional information: Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $15,900 0 0 10,500 Account Name Service revenue Interest revenue Supplies expense Salaries expense Account Balance $147,800 0 0 66,900 1. 2. 3. 4. Supplies remaining at the end of the year. Services remaining to be provided to customers who paid in advance. Employees are owed additional salaries at the end of the year. A note receivable was accepted on March 31. Interest rate on note $ 6,700 2,700 7,800 8,200 8% Required: 1. Prepare the adjusting journal entries based on the results of your revised spreadsheet. 2. Complete the table below with the new balances in each account: Adjusted Year End Balances $ 6,700 Service revenue Supplies Interest receivable Interest revenue Supplies expense Salaries payable Deferred revenue Salaries expense 3. Now assume supplies on hand at the end of the year were $14,200, and services remaining to be provided to customers were $5,200. Enter the recalculated values below: Supplies expense Service revenue
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