Question

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.


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  • CreatedMarch 25, 2015
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