PLEASE HELP!

Elliott, Inc. has completed operations for the month of December. The first 3 steps of the accounting cycle have been completed:

1. Journal entries for Decembers transactions have been recorded
2. Posting has been completed.
3. The unadjusted trial balance has been prepared. The unadjusted balances are entered in the General Ledger accounts, which is found on Sheet 2 in the file.

Following instructions A C, you will complete the next steps in the accounting cycle:

1. Prepare adjusting entries
2. Post the adjusting entries to the General Ledger
3. Prepare the Adjusted Trial Balance.

A. Name Sheet 1 General Journal

Use the adjusting entry information below to record adjusting journal entries, dated December 31, in the General Journal. You will need to refer to the unadjusted balances in the General Ledger, found on Sheet 2, for some of these adjusting entries:

1. Depreciation on the computer is estimated at $1,500.
2. $196 of the unearned revenue was earned before the end of the period.
3. Accrued salary expense of $429 that hasnt been paid
4. A review of insurance policies shows $1,400 of prepaid insurance has been used by the end of the period.
5. $500 of revenue has been earned, but it hasnt been received or recorded.
6. A physical inventory shows $172 of supplies on hand.

2. Name Sheet 2 General Ledger

Post the adjusting journal entries, recorded in the General Journal, which was on Sheet 1 before you renamed it, to the accounts in the General Ledger, which was Sheet 2 before you renamed it. Enter the date of the journal entry, the amount of the journal entry, and compute the new balance. Be sure to enter Adjusting in the Item column. Enter the appropriate reference in the Post. Ref. column in both the General Journal (found on Sheet 1) and the General Ledger (found on Sheet 2).

You must use formulas to compute ALL account balances. If you use a calculator or mental math to compute balances, points will be deducted.

3. Name Sheet 3 Adjusted Trial Balance

Prepare the Adjusted Trial Balance for Elliott, Inc. at December 31, 2018, using the ending balances in the General Ledger. You must use formulas to compute the totals for the debit and credit columns. Dont forget the heading!

General Journal Page 12
Date		Description				Post Ref.	Debit	Credit

General ledger: (balance column)(date for all is Dec 31) Cash....debit-7,750 Account receivable...debit-1,199 Supplies...debit-360 Prepaid Insurance...debit 2,350 Computer...debit-6,000 Accumulated depreciation....credit-1000 Accounts payable...credit-987 Salaries payable....credit-100 Unearned revenue...credit-240 Common stock...credit-5,500 Retained earnings....credit- 3,017 Dividends....debit-500 Service revenue...credit-11340 Salaries expense....debit-2,600 Depreciation expense...none Rent expense...debit-1,000 Insurance expense...none Utility expense....debit-375 Supplies expense...none Auto expense...debit-50