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Basic Acct Eq Impacts	Account Titles and Explanation	Debit	Credit
Liability-	Accounts payable	$ 5,500
Asset-	Cash		$ 5,500
	(To record accounts payable paid)
Asset+	Equipment	$ 21,000
Liability+	Notes Payable-Short term		$ 21,000
	(To record notes payable)
Asset+	Cash	$ 40,000
Asset+	Accounts Receivables	$ 44,000
Equity+	Service Revenue		$ 88,000
	(To record service revenue)
Asset+	Supplies	$ 3,400
Liability+	Accounts payable		$ 3,400
	(To record supplies purchased)
Asset+	Prepaid Rent	$ 18,000
Asset-	Cash		$ 18,000
	(To record prepaid rent paid)
Asset+	Cash	$ 5,400
Liability+	Unearned Service Revenue		$ 5,400
	(To record unearned revenue received)
Asset+	Cash	$ 9,600
Asset-	Accounts Receivables		$ 9,600
	(To record account receivables collected)
Equity-	Cash Dividend	$ 15,000
Asset-	Cash		$ 15,000
	(To record cash dividend paid)

Fleming, Inc. began business operations on January 1, 2019. Fleming's annual reporting period ends December 31. Some events have already occurred and have been recorded; these are reflected in the beginning balances shown on the basic accounting equation grid. Analyze the following additional events during 2019 and complete the requirements on the following pages. Events: a) Paid an accounts payable balance of $5,500. b) Purchased $21,000 of equipment for use in the business, signed a promissory note to pay the supplier in 6 months. c) Earned $88,000 in service revenues for 2019, collecting $40,000 in cash and the rest on credit. d) Purchased $3,400 supplies on account for future use. e) On July 1, paid $18,000 to rent a building for the rest of 2019 and the first half of 2020. f) Customer paid $5,400 in advance for future services. B) Collected accounts receivable, $9,600. h) Declared and paid a $15,000 cash dividend. Data for adjusting entries: i) Wages of $5,600 earned by employees since the December 24 payroll were not yet paid. i) Determined after a year-end count that $6,800 of supplies had been used during the year. k) Fleming provided $4,500 in service that had been prepaid in transaction (f). 1) During December, Fleming provided $6,700 in service on account that was not recorded earlier. m) Depreciation for the year on the equipment was $5,900. n) Accrued $2,300 interest on an outstanding loan (promissory note). o) Building rental expenses for the year, paid in transaction (e), had not yet been recorded. p) Income tax for the year was $39,400. It will be paid in 2020. FLEMING, INC. Unadjusted Trial Balance As of December 31, 2019 Debit Credit Cash Accounts Receivable Prepaid Expenses Supplies (on hand) Equipment Accumulated Depreciation (Equipment) Accounts Payable Unearned Revenue Notes Payable Contributed Capital Retained Earnings Dividends Declared Service Revenue Depreciation Expense Interest Expense Rent Expenses Supplies Expenses Wage Expense Income Tax Expense Total Fleming, Inc. began business operations on January 1, 2019. Fleming's annual reporting period ends December 31. Some events have already occurred and have been recorded; these are reflected in the beginning balances shown on the basic accounting equation grid. Analyze the following additional events during 2019 and complete the requirements on the following pages. Events: a) Paid an accounts payable balance of $5,500. b) Purchased $21,000 of equipment for use in the business, signed a promissory note to pay the supplier in 6 months. c) Earned $88,000 in service revenues for 2019, collecting $40,000 in cash and the rest on credit. d) Purchased $3,400 supplies on account for future use. e) On July 1, paid $18,000 to rent a building for the rest of 2019 and the first half of 2020. f) Customer paid $5,400 in advance for future services. B) Collected accounts receivable, $9,600. h) Declared and paid a $15,000 cash dividend. Data for adjusting entries: i) Wages of $5,600 earned by employees since the December 24 payroll were not yet paid. i) Determined after a year-end count that $6,800 of supplies had been used during the year. k) Fleming provided $4,500 in service that had been prepaid in transaction (f). 1) During December, Fleming provided $6,700 in service on account that was not recorded earlier. m) Depreciation for the year on the equipment was $5,900. n) Accrued $2,300 interest on an outstanding loan (promissory note). o) Building rental expenses for the year, paid in transaction (e), had not yet been recorded. p) Income tax for the year was $39,400. It will be paid in 2020. FLEMING, INC. Unadjusted Trial Balance As of December 31, 2019 Debit Credit Cash Accounts Receivable Prepaid Expenses Supplies (on hand) Equipment Accumulated Depreciation (Equipment) Accounts Payable Unearned Revenue Notes Payable Contributed Capital Retained Earnings Dividends Declared Service Revenue Depreciation Expense Interest Expense Rent Expenses Supplies Expenses Wage Expense Income Tax Expense Total