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29 Nov 2019

1. Prepare the Adjusting entries A-F. a. Insurance expiredduring June is $150.

b. Supplies on hand on June 30 are $1,020.

c. Depreciation of office equipment for June is $500.

d. Accrued receptionist salary on June 30 is $120.

e. Rent expired during June is $1,500.

f. Unearned fees on June 30 are $2,000.

2. Prepare an income statement, a statement of owner's equity,and a balance sheet.

3. Journalize and Post the adjusting entries.

4. Journalize and post the closing entries. (Income Summary isaccount #33 in the chart of accounts.)

5. Prepare a post-closing trial balance.

Debit Credit
Accounts Receivable 3,450.00
Supplies 2,000.00
Prepaid Rent 4,500.00
Prepaid Insurance 1,800.00
Office Equipment 9,300.00
Accounts Payable 1,000.00
Unearned Fees 3,000.00
Dustin Larkin, Capital 20,250.00
Dustin Larkin, Drawing 4,500.00
Fees Earned 11,425.00
Salary Expense 800.00
Advertisement Expense 120.00
Telephone Expense 130.00
Electrical Expense 200.00
Cash 8,875.00
35,675.00 35,675.00

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Prepare journal entries to record the June transactions inthe General Journal below.
General Journal
Date Description(Account Name) Debit Credit
1-Jun Cash $10,000
Accounts Receivable $1,500
Supplies $1,250
Office Equipement $7,500
DustinLarkin, Capital $20,250
1-Jun Pre-Paid Rent $4,500
Cash $4,500
2-Jun Prepaid Insurance $1,800
Cash $1,800
4-Jun Cash $3,000
Unearned Fees $3,000
5-Jun Office Equipment $1,800
AccountsPayable $1,800
6-Jun Cash $800
AccountsReceivable $800
10-Jun Miscellaneous Expense $120
Cash $120
12-Jun Accounts Payable $800
Cash $800
12-Jun Accounts Receivable $2,250
Fees Earned $2,250
14-Jun Salary Expense $400
Cash $400
17-Jun Cash $3,175
Fees Earned $3,175
18-Jun Supplies $750
Cash $750
20-Jun Accounts Receivable $1,100
Fees Earned $1,100
24-Jun Cash $1,850
Fees Earned $1,850
26-Jun Cash $1,600
Accounts Receivable $1,600
27-Jun Salaries expenses $400
Cash $400
29-Jun Miscellaneous expenses $130
Cash $130
30-Jun Miscellaneous expenses $200
Cash $200
30-Jun Cash $2,050
Fees earned $2,050
30-Jun AccountsReceivable $1,000
FeesEarned $1,000
30-Jun Dustin Larkin, Drawings $4,500
Cash $4,500
$52,475 $52,475
Note: Remember that Debits must equal Credits -All of your Journal Entries should balance.
Need help with problems below:

1.Please prepare the adjusting entries A-F
a. Insurance expired during Junes is $150
b.Supplies on hand on June 30 are $1,020
c. Depreciation of office equipment for June is $500
d. Accrued receptionist salart on June 30 is $120
e. Rent expired during June is $1,500
f. Unearned fees on June 30 are $2,000

2. Prepare an income statement, a statment of owners equity , and abalance sheet
3. Journalize and post the adjusting entries
4. Journalize and post the closing entries. (income summary isaccount #33 in the chart of accounts)
5. Prepare a post-closing trial balance



PLEASE GIVE ANSWER TO #"S 3, 4 and 5.


Finders Investigative Services is an investigative services firmthat is owned and operated by Stacy Tanner. On June 30, 2016, theend of the fiscal year, the accountant for Finders InvestigativeServices prepared an end-of-period spreadsheet, a part of whichfollows: Finders Investigative Services End-of-Period SpreadsheetFor the Year Ended June 30, 2016 ~ Adjusted Trial Balance AccountTitle ~ Dr. Cr. ~ Cash ~ 28,000.00 Accounts Receivable ~ 69,600.00Supplies ~ 4,600.00 Prepaid Insurance ~ 2,500.00 Building ~439,500.00 Accumulated Depreciation-Building ~ 44,200.00 AccountsPayable ~ 11,700.00 Salaries Payable ~ 3,000.00 Unearned Rent ~2,000.00 Stacy Tanner, Capital ~ 373,800.00 Stacy Tanner, Drawing ~12,000.00 Service Fees ~ 718,000.00 Rent Revenue ~ 12,000.00Salaries Expense ~ 522,100.00 Rent Expense ~ 48,000.00 SuppliesExpense ~ 10,800.00 Depreciation Expense-Building ~ 8,750.00Utilities Expense ~ 7,150.00 Repairs Expense ~ 3,000.00 InsuranceExpense ~ 2,500.00 Miscellaneous Expense ~ 6,200.00 ~ 1,164,700.001,164,700.00 Required: 1. Prepare an income statement, a statementof owner’s equity (no additional investments were made during theyear), and a balance sheet. * 2. Journalize the entries that wererequired to close the accounts at June 30. * 3. If Stacy Tanner,Capital has instead decreased $30,000 after the closing entrieswere posted, and the withdrawals remained the same, what would havebeen the amount of net income or net loss?

Can you show in detail on how you got the answers for the jounaland the If Stacy Tanner, Capital has instead decreased $30,000after the closing entries were posted, and the withdrawals remainedthe same, what would have been the amount of net income or netloss?

Finders Investigative Services is an investigative services firmthat is owned and operated by Stacy Tanner. On June 30, 2016, theend of the fiscal year , the accountant for Finders InvestigativeServices prepared an end-of-period spreadsheet, a part of whichfollows:

Finders Investigative Services End-of-Period Spreadsheet For theYear Ended June 30, 2016 ~ Adjusted Trial Balance Account Title ~Dr. Cr. ~ Cash ~ 28,000.00 Accounts Receivable ~ 69,600.00 Supplies~ 4,600.00 Prepaid Insurance ~ 2,500.00 Building ~ 439,500.00Accumulated Depreciation-Building ~ 44,200.00 Accounts Payable ~11,700.00 Salaries Payable ~ 3,000.00 Unearned Rent ~ 2,000.00Stacy Tanner, Capital ~ 373,800.00 Stacy Tanner, Drawing ~12,000.00 Service Fees ~ 718,000.00 Rent Revenue ~ 12,000.00Salaries Expense ~ 522,100.00 Rent Expense ~ 48,000.00 SuppliesExpense ~ 10,800.00 Depreciation Expense-Building ~ 8,750.00Utilities Expense ~ 7,150.00 Repairs Expense ~ 3,000.00 InsuranceExpense ~ 2,500.00 Miscellaneous Expense ~ 6,200.00 ~ 1,164,700.001,164,700.00 Required: 1. Prepare an income statement, a statementof owner’s equity (no additional investments were made during theyear), and a balance sheet. * 2. Journalize the entries that wererequired to close the accounts at June 30. * 3. If Stacy Tanner,Capital has instead decreased $30,000 after the closing entrieswere posted, and the withdrawals remained the same, what would havebeen the amount of net income or net loss? * Be sure to read theinstructions for each financial statement carefully. Refer to thechart of accounts and the list of Labels and Amount Descriptionsprovided for the exact wording of the answer choices for textentries.

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