I need help with each adjusting entry and an explanation of how to find each one:

ACC 309 Final Project Scenario

Peyton Approved Overview Imagine that you are working as a financial accountant for Peyton Approved, and you have been charged with revising its financial information. The company has experienced tremendous growth in the past three years, and it is now a well-known bakery chain for pet products. They have become a publicly traded company and have several locations that they deliver to regionally.

Peyton Approved Financial Information

Comprehensive income items

Marketable securities on the balance sheet at a cost of $5,500,000 are available-for-sale

Market value at the balance sheet date is $5,235,000

Prepare the adjusting entry to record the unrealized loss and include in comprehensive income Tax information and implications

$1,500 in meal and entertainment expenses show as a permanent difference for tax.

Prepare the necessary adjusting entry.

The company uses straight line depreciation for book and MACRS depreciation for the tax return

MACRS depreciation was $209,301 higher than book.

Prepare the adjusting entry for the deferred tax.

There have been recent tax structure changes that could impact the company. Peyton Approved has been a C Corp since the beginning of these changes. Peyton provides for taxes at 25% of pretax income (20% Federal, 5% state).