This unadjusted trial balance of Wesaw Delivery Service, Inc., is followed by information for adjustments.

Adjustment data:
A. Supplies used $ 560.
B. Expired insurance, $ 250.
C. Depreciation on buildings, $ 750.
D. Depreciation on equipment, $ 350.
E. Unearned delivery fees earned this month, $ 900. F. Salaries earned but not yet paid $ 280.
G. Interest on the mortgage, $ 500.
H. Delivery fees earned but not recorded and not received $ 560.
Required
1. Prepare the adjusting entries. In some instances, it will be necessary to establish new accounts for items not shown on the unadjusted trial balance.
2. Prepare an adjusted trial balance.
3. Prepare the closing entries.
4. Determine the net income or loss for the period.
5. Prepare a post-closing trial balance.

Transcribed Image Text:

WESAW DELIVERY SERVICE, INC Unadjusted Trial Balance June 30, 2010 DR CR Cash Accounts racoivablo Supplies Propaid insurance Land Buidings Accumulated deprociation Equipment Accumulated depreciation Accounts payable Unoamed delivery foos Mortgage payable Capital stock Retained eanings Fee revenue Salary expense Tolophone expanse Uslitios expense Repairs axpense Total S 6,340 ,410 890 1,900 48,000 82,000 buldings $ 18960 53,000 equipment 16,800 2,550 2, 100 58,000 50,000 21,630 23,460 9,060 120 $203 500