At the end of its fiscal year, Berwyn Cleaners, Inc.'s

At the end of its fiscal year, Berwyn Cleaners, Inc.'s trial balance is as follows.
At the end of its fiscal year, Berwyn Cleaners, Inc.'s

The following information is also available:
a. A study of the company's insurance policies shows that $680 is unexpired at the end of year.
b. An inventory of cleaning supplies shows $1,244 on hand.
c. Estimated depreciation on the building for the year is $12,800.
d. Accrued interest on the mortgage payable is $1,000.
e. On September 1, the company signed a contract, effective immediately, with Hope County Hospital to dry clean, for a fixed monthly charge of $400, the uniforms used by doctors in surgery. The hospital paid for four months' service in advance.
f. Sales and delivery wages are paid on Saturday. The weekly payroll is $2,520. September 30 falls on a Thursday, and the company has a six-day pay week.
g. Federal income taxes for the three months are estimated to be $2,300.
Required
All adjustments affect one balance sheet account and one income statement account. For each of the above situations, show the accounts affected, the amount of the adjustment (using a 1 or 2 to indicate an increase or decrease), and the balance of the account after the adjustment in the following format:

At the end of its fiscal year, Berwyn Cleaners, Inc.'s
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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