COMPUTERIZED ACCTG SOFTWARE ASSIGNMENT PREVIOUS 1 2 NEXT Problem 1 : P4-31A Background: Assignment: The unadjusted Trial Balance of Farish Investment Advisers is included in 1) Using the General Journal tab, click Add Transaction to the Reports tab. Farish Investment Advisers gathered the information journalize each adjusting entry needed. Click Post Transaction once included in the Transactions section below needed for adjusting entries you complete the entry, then repeat these steps for each additional at December 31, 2018. adjusting entry. 2) Click the Reports tab and review the adjusted Trial Balance generated as a result of preparing the adjusting entries in Requirement 1. 3) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. Transactions: 12/31/2018 Unearned Revenue earned during the year, $800. 12/31/2018 Office Supplies on hand, $4,500. 12/31/2018 Depreciation for the year on Equipment, $4,500. 12/31/2018 Accrued Salary Expense, $5,000. - ! - - n-. Ar ran SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Credit Closing Entry No transactions in Journal ADD TRANSACTION EDIT CHECKED TRANSACTION DELETE CHECKED TRANSACTIONSCOMPUTERIZED ACCTG SOFTWARE ASSIGNMENT PREVIOUS 1 2 NEXT Problem 1 : P4-31A included in the Transactions section below needed for adjusting entries IPUOnIDDP UpPa JO1 Sdans asaIn 1PadaluaIn Anua aIn maidwon noA at December 31, 2018. adjusting entry. 2) Click the Reports tab and review the adjusted Trial Balance generated as a result of preparing the adjusting entries in Requirement 1. 3) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. 4) Click the Reports tab and review the post-closing Trial Balance generated as a result of preparing the closing entries in Requirement 2. 5) Click Submit Work when complete. Transactions: 12/31/2018 Accrued Service Revenue, $6,500. 12/31/2018 Close any revenue accounts. 12/31/2018 Close any expense accounts (compound entry). 12/31/2018 Close the Income Summary account. 19/31/2018 floco the withdrawals account SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Account # Description Type 10100 Cash Current Asset 10400 Accounts Receivable Current Asset 10650 Office Supplies Current Asset 11250 Equipment Property, Plant, and Equipment 11300 Accumulated Depreciation - Equipment Contra-Asset 20100 Accounts Payable Current Liability 20250 Salaries Payable Current Liability 20500 Unearned Revenue Current Liability 21000 Notes Payable, Long-term Long-term Liability 30100 Farish, Capita Proprietor Capita 30150 Farish, Withdrawals Proprietor Withdrawals 39950 Income Summary Income Summary 40250 Service Revenue Service Revenue 50350 Salaries Expense Operating Expense 50700 Supplies Expense Operating Expense 50750 Insurance Expense Operating Expense 50800 Rent Expense Operating Expense 51300 Depreciation Expense - Equipment Operating Expense 70100 Interest Expense Other ExpenseCOMPUTERIZED ACCTG SOFTWARE ASSIGNMENT PREVIOUS 1 NEXT Problem 1 : P4-31A Background: Assignment: The unadjusted Trial Balance of Farish Investment Advisers is included in 1) Using the General Journal tab, click Add Transaction to the Reports tab. Farish Investment Advisers gathered the information journalize each adjusting entry needed. Click Post Transaction once included in the Transactions section below needed for adjusting entries you complete the entry, then repeat these steps for each additional at December 31, 2018. adjusting entry. 2) Click the Reports tab and review the adjusted Trial Balance generated as a result of preparing the adjusting entries in Requirement 1. 3) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. Transactions: 12/31/2018 Unearned Revenue earned during the year, $800. 12/31/2018 Office Supplies on hand, $4,500. 12/31/2018 Depreciation for the year on Equipment, $4,500. 12/31/2018 Accrued Salary Expense, $5,000. SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS TRANSACTIONS BY DATE GENERAL LEDGER TRIAL BALANCE December 31, 2018 Account Name Debit Credit Cash 30,000 Accounts Receivable 51,000 Office Supplies 7,000 Equipment 28,000 Accumulated Depreciation - Equipment 9,000 Accounts Payable 13,000 Unearned Revenue 5,500 Notes Payable, Long-term 21,000 Farish, Capital 56,500COMPUTERIZED ACCTG SOFTWARE ASSIGNMENT PREVIOUS 1 2 NEXT Problem 1 : P4-31A Background: Assignment: The unadjusted Trial Balance of Farish Investment Advisers is included in 1) Using the General Journal tab, click Add Transaction to the Reports tab. Farish Investment Advisers gathered the information journalize each adjusting entry needed. Click Post Transaction once included in the Transactions section below needed for adjusting entries you complete the entry, then repeat these steps for each additional at December 31, 2018. adjusting entry. 2) Click the Reports tab and review the adjusted Trial Balance generated as a result of preparing the adjusting entries in Requirement 1. 3) Based on this adjusted Trial Balance, prepare the necessary closing entries on December 31. Be sure to click the checkbox indicating that each transaction is a closing entry. Transactions: 12/31/2018 Unearned Revenue earned during the year, $800. 12/31/2018 Office Supplies on hand, $4,500. 12/31/2018 Depreciation for the year on Equipment, $4,500. 12/31/2018 Accrued Salary Expense, $5,000. - Ar ron SAVE WORK RESET RESULTS SUBMIT WORK BUSINESS REPORTS TRANSACTIONS BY DATE GENERAL LEDGER TRIAL BALANCE Unearned Revenue 5,500 Notes Payable, Long-term 21,000 Farish, Capital 56,500 Farish, Withdrawals 29,000 Service Revenue 93,000 Salaries Expense 40,000 Insurance Expense 2,500 Rent Expense 5,000 Interest Expense 5,500 Total $198,000 $198,000