O St. John's Un. Dashboard How Do I Up.. Order 61892... (No new ema.. MEX Chapter 3 Pa. Netflix D STUDENT O.. [#114230] ok... BusinessCourse Return to course Course Content / Module 3 / Chapter 3 Part 2 HW (Due: 10/5) Chapter 3 Part 2 HW (Due: 10/5) Assessing Financial Statement Effects of Adjustments The following information relates to December 31 accounting adjustments for Fulton Fast Print Company. The firm's fiscal year ends on December 31. 1. Weekly salaries for a five-day week total $6,480, payable on Fridays. December 31 of the current year is a Tuesday. 2. Fulton Fast Print has $36,000 of notes payable outstanding at December 31. Interest of $360 has accrued on these notes by December 31 but will not be paid until the notes mature next year. 3. During December, Fulton Fast Print provided $1,620 of printing services to clients who will be billed on January 2. The firm uses the fees receivable account to reflect amounts earned but not yet billed. 4. Starting December 1, all maintenance work on Fulton Fast Print's equipment is handled by Richardson Repair Company under an agreement whereby Fulton Fast Print pays a fixed monthly charge of $720. Fulton Fast Print paid six months' service charge of $4,320 cash in advance on December 1 and increased its Prepaid maintenance account by $4,320. 5. The firm paid $1,620 cash on December 15 for a series of radio commercials to run during December and January: One-third of the commercials aired by December 31. The $1,620 payment was recorded in its prepaid advertising account. 5. Starting December 16, Fulton Fast Print rented 1440 square feet of storage space from a neighboring business. The monthly rent of $0.80 per square foot is due in advance on the first of each month. Nothing was paid in December, however, because the neighboring business agreed to add the rent -half of December to the January 1 payment. 7. Fulton Fast Print invested $9,000 cash in securities on December 1 and earned interest of $68 on these securities by December 31. No interest will be received until January. B. Annual depreciation on the firm's equipment is $3,915. No depreciation has been recorded during the year. Prepare Fulton Fast Print Company's accounting adjustments required at December 31 using the financial statement effects template. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet OCT 1 tv MacBook Pro Q mybusinesscourse.com C + St. John's Un. Dashboard How Do | Up.. Order 61892. (No new ema.. Chapter 3 Pa.. Netflix D STUDENT O. [#114230] ok. BusinessCourse Return to course Course Content / Module 3 / Chapter 3 Part 2 HW (Due: 10/5) Chapter 3 Part 2 HW (Due: 10/5) Balance Sheet Transaction Cash Asset Noncash Assets Liabilities Contribcapital Earned Capital 1. OV = 5,480 x DV (6,480) x N/A N/A * Salaries Payable N/A Salaries Expense + N/A 2. OV Ov= 360 (360) N/A V N/A Interest Payable V N/A Interest Expense N/A 3. 1,620 = O V O V 1,620 N/A Accounts Receivable V N/A N/A N/A N/A 4. OV (720) = 0 V OV (720) N/A Prepaid Maintenance V N/A V N/A N/A N/A 5. OV (540) = OV O V (540) N/A * Prepaid Advertising V N/A V N/A * Advertising Expense N/A 6. 0 v OV = 576 OV (576) N/A V N/A Rent Payable N/A Rent Expense #1/A 7. 68 v = 68 N/A Interest Receivable N/A N/A Interest Income N/A 8 OV (3,915) = (3,915) NA Accumulated Depreciation NIA Depreciation Expense N/A Check Partially correct Marks for this submission: 13.25/15.00. OCT 1 MacBook ProSt. John's Un. Dashboard How Do I Up. Order 61892.. (No new ema.. Chapter 3 Pa. Netflix D STUDENT O. [#114230] ok BusinessCourse A Return to course Course Content / Module 3 / Chapter 3 Part 2 HW (Due: 10/5) Chapter 3 Part 2 HW (Due: 10/5) Balance Sheet Income Statement Liabilities Contribcapital Earned Capital Revenues Expenses Net Income O V = 6,480 x O V 6,480) * Ov - 6,480 x = (6,480) * Salaries Payable V N/A * Salaries Expense NI/A Salaries Expense v O V = 360 (360) O V - 360 v = (360) Interest Payable V N/A Interest Expense # N/A Interest Expense 20 V = 0 v O V 1,620 1,620 - O V = 1,620 N/A V N/A + VN/A JI/A X N/A D) v = OV O V (720) O V - 720 = (720) N/A N/A V N/A Operating Expense 0) = Ov (540) OV 540 v = (540) N/A N/A Advertising Expense N/A Advertising Expense OV= 576 v O V (576) O V - 576 v = (576) * Rent Payable N/A Rent Expense * Rent Expense 58 = 0 V 68 68 v - O V= 68 N/A N/A Interest Income * N/A * * N/A 5) v = (3,915) O V - 3,915 = (3,915) V N/A V N/A Depreciation Expense Depreciation Expense Check Partially correct Marks for this submission: 13.25/15.00. MacBook Pro sc Q O