Question 1.

Adjustment data at December 31 follow:

a. As of December 31, Lexington had $700 of Prepaid Insurance remaining.

b. At the end of the month, Lexington had $600 of office supplies remaining.

c. Depreciation on the building is $1,600.

d. Lexington pays its employees weekly on Friday. Its employees earn $2,000 for a

five-day workweek. December 31 falls on Wednesday this year.

e. On November 20, Lexington contracted to perform services for a client receiving

$2,400 in advance. Lexington recorded this receipt of cash as Unearned Revenue.

As of December 31, Lexington has $1,400 still unearned.

Requirements

1. Journalize the adjusting entries on December 31.

2. Using the unadjusted trial balance, open the accounts (use a four-column

ledger) with the unadjusted balances. Post the adjusting entries to the ledger

accounts.

3. Prepare the adjusted trial balance.

4. Assuming the adjusted trial balance has total debits equal to total credits, does

this mean that the adjusting entries have been recorded correctly? Explain.

Question 2.

At the beginning of the? year, office supplies of $1,200 were on hand. During the? year, Tempo Air Conditioning Service paid $2,000 for more office supplies. At the end of the? year, Tempo has $1,000 of office supplies on hand.Read the requirements.

Requirement 1. Record the adjusting entry assuming that Tempo records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts. Make sure to include the beginning balance and purchase of office supplies in the Office Supplies? T-account.

Now post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts. Enter the beginning balances on the first line of each account. Use a ?"Jan. ?1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies? T-account, then post the adjusting entry. Use a? "Bal." reference to show the ending balance of each account.

Question 3.

The unadjusted trial balance of Anniston Air Purification System at December 31, 3. Adjusted trial balance total 2018, and the data needed for the adjustments follow. $75,600 ANNISTON AIR PURIFICATION SYSTEM Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 7,600 Accounts Receivable 19,700 Prepaid Rent 2,900 Office Supplies 1,800 Equipment 22,000 Accumulated Depreciation-Equipment $ 3,900 Accounts Payable 2,900 Salaries Payable Unearned Revenue 3,100 Common Stock 43,800 Dividends 9,900 Service Revenue 15,300 Salaries Expense 3,300 Rent Expense Depreciation Expense-Equipment Advertising Expense 1,800 Supplies Expense Total $ 69,000 $ 69,000Adjustment data at December 31 follow: a. On December 15, Anniston contracted to perform services for a client receiving $3,100 in advance. Anniston recorded this receipt of cash as Unearned Revenue. As of December 31, Anniston has completed $2,100 of the services. b. Anniston prepaid two months of rent on December 1. (Assume the Prepaid Rent balance as shown on the unadjusted trial balance represents the two months of rent prepaid on December 1.) c. Anniston used $750 of office supplies. d. Depreciation for the equipment is $850. e. Anniston received a bill for December's online advertising, $1,100. Anniston will not pay the bill until January. (Use Accounts Payable.) f. Anniston pays its employees on Monday for the previous week's wages. Its employees earn $3,500 for a five-day workweek. December 31 falls on Wednesday this year. g. On October 1, Anniston agreed to provide a four-month air system check (beginning October 1) for a customer for $3,400. Anniston has completed the system check every month, but payment has not yet been received and no entries have been made.Requirements 1. Journalize the adjusting entries on December 31. 2. Using the unadjusted trial balance, open the T-accounts with the unadjusted balances. Post the adjusting entries to the T-accounts. 3. Prepare the adjusted trial balance. 4. How will Anniston Air Purification System use the adjusted trial balance?Which one of the following is true for OSHA record keeping requirement ? O An employer with 11 or more employees must keep OSHA record keeping forms for a minimum of five years on site An employer must send the OSHA record keeping forms each year to regional OSHA office An employer with 11 or more employees must send all OSHA record keeping forms to BLS An employer is required to keep OSHA forms only if there is any fatality