Question: keeps saying my answer is not complete Required information (The following information applies to the questions displayed below) Jaguar Auto Company provides general car maintenance

keeps saying my answer is not complete
keeps saying my answer is not complete Required information (The following information
applies to the questions displayed below) Jaguar Auto Company provides general car
maintenance to customers. The company's fiscal year-end is December 31, The December
31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits
Credits Cash $ 19,000 Accounts Receivable 14,400 Supplies 24,000 Prepaid Insurance 20,400
Equipment 89,000 Accumulated Depreciation $ 29,000 Accounts Payable 11,400 Solaries Payable O

Required information (The following information applies to the questions displayed below) Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31, The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 19,000 Accounts Receivable 14,400 Supplies 24,000 Prepaid Insurance 20,400 Equipment 89,000 Accumulated Depreciation $ 29,000 Accounts Payable 11,400 Solaries Payable O Utilities Payable O Interest Payable O Notes Payable 32,000 Common Stock 29,000 Retained Earnings 9,400 Dividends 2,400 Service Revenue 224,800 Salaries Expense 155.000 Depreciation Expense Insurance Expense Supplies Expense Navt Utilities Expense Interest Expense 11,400 0 Totals $335,600 $335,600 5 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation on the machines for the year is $9.400. b. Employee salaries are paid every two weeks. The last pay period ended on December 23. Salaries earned from December 24 through December 31, 2018, are $3.400 c. On September 1, 2018, Jaguar borrows $32,000 from a local bank and signs a note. The note requires Interest to be paid annually on August 31 at 9%. The principal is due in five years. d. on March 1, 2018, the company purchases Insurance for $20,400 for a one-year policy to cover possible injury to mechanics. The entire $20,400 was debited to Prepaid Insurance at the time of the purchase, e. $4,400 of supplies remains on hand at December 31, 2018 f. On December 30, Jaguar receives a utility bill of $1,900 for the month. The bill will not be paid until early January 2019, and no entry was recorded when the bill was received Required: 1., 2.& 6. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the accounts Required information 5 Bog. Bal Cash 19,000 0 Beg Bal 0 3 0 0 0 Accounts Recolvable 14,400 0 0 14.400 OOO OOO 0 End. Bal 19.000 End Bal Beg. Bal Beg Bal. Supplies 24,000 0 0 4,400 0 19,600ADJ. 0 > Prepaid Insurance 20,400 0 0 17,000 0 0 3,400 OOO ADJ. d. End. Bal End, Bal Bog Bal Beg Bal Equipment 89,000 0 0 89.000 0 0 0 Accumulated Depreciation 0 29,000 0 9,400 0 38,400 ADJ. a O9 End, Bal End. Bal Annun Dash Sala Davalo 16 Required information Beg Bal 00 Beg Bal Salarios Payable 0 0 0 3,400 0 0 3,400 ADJ.b Accounts Payable 0 11,400 0 0 0 0 11,400 1 of 5 OO End. Bat. End. Bal. Interest Payablo 0 Beg Bal Bog. Bal. 0 ADJ. Utilities Payable 0 0 0 0 1,900 1,900 OOO oool O 960 0 960 0 ADJ. 1 End. Bal End. Bal Beg Bal Bog Bal Notes Payable 0 32,000 0 0 0 0 32,000 SO Common Stock 0 29,000 0 0 0 0 29,000 End. Bal End. Bal Dividends Retained Earnings S! -10 Next 16 Required Information 0 Beg Bal Beg Bal 105 0 2.400 218,660 OO 9,400 224,800 0 13,140 2.400 0 0 0 0 2,400 End. Bal End. Bal. Bog: Bar Service Revenue 0 224,800 0 224 800 0 Solo Beg Bal. ADJ. D OOO Salarios Expense 155,000 0 3,400 0 158.400 0 000 End. Bal End, Bal Beg Bal Beg Bal Depreciation Expense 0 D 9.400 O 0 9,400 0 OOO ADJ. d. Insurance Expanse 0 0 17.000 0 17,000 0 oo OOO End. Bal End. Bal Supplies Expense Utilition Expense Required Information 9,400 0 > 17,000 0 0 End. Bal. End. Bal 0 of 5 Beg Bal Supplies Expensa 0 O 19,600 0 0 19,600 0 Beg Bal ADJ. ADJ. Utilities Expense 11.400 1,900 0 0 13,300 0 End. Bal End. Bal Bog. Bal. > Interest Expense 0 960 0 0 ADJ. slo solo 0 O 960 End. Bal

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!