B-Ch 3 i Saved Help Save & Exit Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020 Account Acct.No.. 101 Cash 106 Accounts receivable 109 Interest receivable 111 Notes receivable 126 Supplies 128 Prepaid insurance 131 Prepaid rent 161 Office furniture 162 Accumulated depreciation, office furniture 201 Accounts payable 210 Wages payable 233 Unearned consulting revenue 301 Jeff Moore, capital 302 Jeff Moore, withdrawals 401 Consulting revenue 409 Interest income 601 622 Wages expense 637 Depreciation expense, office furniture Insurance expense Prev 1 of 6 Next Debit Credit $ 25,900 60,000 e 49,000 5,200 3,230 26,700 83,000 $ 27,500 17,900 e 25,800 219,440 27,900 231,020 470 191,000 RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020 Account Acct.No. 101 Cash 106 109 111 126 Accounts receivable Interest receivable Notes receivable Supplies 128 Prepaid insurance 131 Prepaid rent 161 Office furniture 162 Accumulated depreciation, office furniture 201 Accounts payable 210 Wages payable 233 Unearned consulting revenue 301 Jeff Moore, capital 302 Jeff Moore, withdrawals 401 Consulting revenue 409 Interest income Debit $ 25,900 Credit 60,000 49,000 5,200 3,230 26,700 83,000 $ 27,500 17,900 25,800 219,440 27,900 231,020 470 601 Depreciation expense, office furniture 622 Wages expense 191,000 637 Insurance expense e 648 Rent expense 43,500 650 Supplies expense 6,700 Totals $522,130 $522,130 Rainmaker prepares adjustments each October 31. The following additional information is available on October 31, 2020 a. It was determined that $11,900 of the unearned consulting revenue had not yet been earned. b. It was discovered that $13,900 of the balance in the Consulting Revenue account was for services to be performed in November. c. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020 d. Accrued wages at October 31 totalled $6,700. e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless. f. Accrued consulting revenue at year-end totalled $4,100 g. Interest of $84 had accrued on the note receivable for the month of October h. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019. i. A count of the supplies on October 31 revealed a balance remaining of $610. Required: 1. Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial balance. (Enter the adjusting values in the order of Transaction L.e., a through i.) Date Oct. 31 (bal) Debit 101: Cash Credit Balance Date Oct. 31 (bal) Credit Balance Date Oct. 31 (bal) Date Oct. 31 (bal) 109: Interest Receivable Debit 126: Supplies Date Oct. 31 (bal) Date Oct. 31 (bal) Debit 106: Accounts Receivable Debit Credit Balance 111: Notes Receivable Debit Credit Balance Credit Balance Date 128: Prepaid Insurance Debit Credit Balance Oct. 31 (bal) 131: Prepaid Rent Debit Credit Balance Date 161: Office Furniture Debit Credit Balance Oct. 31 (bal) Help Save & Exit 162: Accumulated Depreciation, Office Furniture Date Oct. 31 (bal) Date Oct. 31 (bal) Debit Credit 201: Accounts Payable Balance Date Debit Oct. 31 (bal) Credit Balance 210: Wages Payable 233: Unearned Consulting Revenue Debit Credit Balance Date Oct. 31 (bal) Debit Credit 301: Jeff Moore, Capital Date Debit Oct. 31 (bal) Date Out 29 Thall Credit 401: Consulting Revenue Debit Balance Date Oct. 31 (bal) Credit Balance Date Oct 31 (hall Balance 302: Jeff Moore, Withdrawals Debit Credit Balance 409: Interest Income Debit Credit Balance Date Oct. 31 (bal) Saved 401: Consulting Revenue 409: Interest Income Debit Credit Balance Date Debit Credit Balance Oct. 31 (bal) 601: Depreciation Expense, Office Furniture Date Oct. 31 (bal) Debit Credit 622: Wages Expense Balance Date Oct. 31 (bal) Debit Credit Balance 637: Insurance Expense 640: Rent Expense Date Debit Oct. 31 (bal) Credit Balance Date Debit Credit Balance Oct. 31 (bal) 650: Supplies Expense. Help 2. Complete the following T-Account with the adjusting entries for October 31, 2020 101: Cash 106: Accounts Receivable Adj Bal Oct 31 Adj Bal Oct 31 0 109: Interest Receivable: Adj Bal Oct 31 0 Adj Bal Oct 31 126: Supplies Prev 1 of 6 Next > 0 111: Notes Receivable 0 128: Prepaid Insurance 131: Prepaid Rent Adj Bal Oct 311 0 162: Accum. Deprec., Office Furniture Adj Bal Oct 31 0 210: Wages Payable Adj Bal Oct 31 Adj Bal Oct 31 Adj Bal Oct 31 161: Office Furniture 0 201: Accounts Payable 0 233: Unearned Consulting Revenue Adj Bal Oct 31. 0 wint 301: Jeff Moore, Capital Adj Bal Oct 31 0 401: Consulting Revenue Adj Bal Oct 31 0 601: Deprec. Expense, Office Furniture 302: Jeff Moore, Withdrawals Adj Bal Oct 31 409: Interest income Adj Bal Oct 31 0 622: Wages Expense 637: Insurance Expense Adj Bal Oct 31 0 650: Supplies Expense Adj Bal Oct 31 0 Adj Bal Oct 31 640: Rent Expense 1 RAINMAKER ENVIRONMENTAL CONSULTANTS Account Adjusted Trial Balance October 31, 2020 Debit Credit nts Print 1 Print Revenues: Server Help RAINMAKER ENVIRONMENTAL CONSULTANTS Income Statement For Year Ended October 31, 2020 Total revenues Operating expenses: $ 0 0 Total operating expenses Save & 1 RAINMAKER ENVIRONMENTAL CONSULTANTS Statement of Changes in Equity For Year Ended October 31, 2020 Jeff Moore, capital, November 1, 2019 Print Total Jeff Moore, capital, October 31, 2020 $ 10 0 0