djustments and the Worksheet $(35$ Points$)$

le date is December $31,2029$

$$p Notch Security $($Owned by Byron Preston$)$

se the following information to prepare the adjustments for the worksheet.

The automobile insurance policy examination shows $$600$ has expired.

A physical count of the office supplies shows a remaining value of $$1,200.$ Record the used amount.

The estimated depreciation of security equipment is $$1,600.$

The payroll of the company is done each Friday $($for the previous $5$ days$).$ December $31$ is on Tuesday. There are three employees and each

employee makes $$170$ a day. An adjusting entry must be made to record the accrued salary for the days accrued for these employees.

The automobile that Mr$.$ Preston uses to drive to the businesses of his clients cost $$55,000.$ He bought it in $2028.$ It is estimated that the car

will last $4$ years and will be sold for $$25,000.$ The car is now $18$ months old. Record the depreciation for the car for $2029.$

On November $1,$ Mr$.$ Preston paid $$10,000$ for $5$ months rent in advance. It is now Dec $31.$ Record the amount of rent expired.

Implete the full worksheet by extending the amounts to the Adjusted Trial Balance, Income Statement and the Balance Sheet columns. $(35$ Points$)$

repare the General Journal Entries for the adjustments. $(20$ Points$)$

Use General Journal $-$ Page $22$ form.

Explanations required.

alculate the updated capital. $(10$ Points$)$

low the full process of updating the capital below

ather the information:

$==$

$=$

rite down the formula for this process:

hat is the Updated Capital Amount?

repare the GJ Entries for the closing process $(15$ Points$)$

Use General Journal $-$ Page $29$ form.

Explanations required.

Post to the GL acoounts

CLOSING ENTRIES

$\backslash$table$[[,$Page $29,,,],[$Date$,$Int Titles and Descr,PR$,$DR$,$CR$,],[,,,,,],[,,,,,]]$

ormal Balances and posting to the General Ledger accounts $(15$ Points$)$

Fepare a Post Closing Trial Balance for the year ending December $31,2029($Points $5)$

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