Question 2 [20 points] Please enter the following information, taken at month-end, in the trial balance by entering the letter (on the left) and amount (on the right) of each adjustment in the 'Adjustments' column, for the appropriate accounts. Then fill in the 'Adjusted Trial Balance column with the balances of each account. a. The estimated monthly depreciation on the equipment is $450. b. $330 of interest has accrued on a note receivable and is unrecorded. c. A review of the $11,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $3,800 at the end the month d. Interest of $380 has accrued on a note payable but is unrecorded. e. Furniture purchased at the start of the month for $12,000 is estimated to have a useful life of five years. After this time, the furniture will be worthless. f. $3,900 of the consulting fees paid to Callaho Inc. in advance has been earned. g. Unpaid and unrecorded salaries at month-end totalled $8,500. h. Buildings purchased at the start of the month for $37,500 are estimated to have a useful life of five years. After this time, the buildings will be sold for $4,500. Adjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. Account Accounts payable Accumulated depreciation, building Accumulated depreciation, equipment Accumulated depreciation, furniture Building Cash Consulting revenue earned Depreciation expense, building Depreciation expense, equipment Depreciation expense, furniture Equipment Furniture Insurance expense Interest earned Interest expense Interest payable Interest receivable Notes receivable Prepaid insurance Retained earnings Salaries expense Salaries payable Share capital Short-term notes payable Supplies Unearned consulting revenue Totals Callaho Inc Trial Balance December 31, 2014 Unadjusted Trial Balance Dr. Cr. 700 8,400 23,700 8,000 37,500 80,460 1,100 0 0 0 37,700 12,000 3,300 13,800 3,400 10,500 11,000 460 3,100 0 125,000 12,500 700 6,000 199,660 199,660