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Exercise 4: Prepare adjusting joumal entries to update the accounting records for 2022 (where appropriate, use the space under the joumal entry to show your calculation for the amount used in the journal entry) and then post these journal entrles to the t-accounts (Step 4 in the Accounting Oyde). a. Miller's balance in the Supplies account can be found in the Unadjusted Trial Balance (Exercise 3). Adjust this account to its proper balance using the following information: Miller took a physical count of its supplies closet on 12/31/22 and found that they still had $400 of supplies on hand at year-end. Record the Adiustine Entrv needed on Maller's books at 12/31/22: b. Refer back to Exercise 1, transaction # 6 . Miller incurs interest cost of $200 per month on the outstanding loan balance. The interest will not be paid until the loan matures on 4/1/2023. Pecord the Adiustine Entrv Miller would record for accrued interest at 12/31/22. c. Refer back to Exercise 1, transaction H7. A portion of the rent paid for in 2022 has expired as of year-end. Reered the Aallustino Fntru for the pxnired rant roct at 12/21/32: d. Refer back to Exercise 1, transaction ur. As of year-end, Miller earned a portion of the cash received in advance for legal services. Pecord the Adiustine Entry needed on Miller's books at 12/31/22: e. Refer back to Exercise 1, transaction \$10. A portion of the insurance paid for in 2022 was used by year-end. Record the Adiustine Entrv for the exoired insurance at 12/31/22: f. Miller pays its employees every Friday for the hours they work during the week (Monday - Friday). The amount of the payroll is $1,125 per day and December 31, 2022 is a Wednesday. Record the Adjusting Entry needed on Miller's books for saiaries earned by employees in 2022 but not paid untiil 2023: g. Miller performed $32,000 of legal services on 12/28/22 for a dient. Miller had not billed the client as of 12/31/22. Record the Adiustina Fntrv needed at 13/31/22. h. Miller received invoices from vendors in 2023 related to expenses incurred in 2022 in the amount of $2,650. The expenses were for Utilities $1,500; Advertising $650; and Telephone $500. Record the Adiustina Entrv needed at 12/31/22 : Exercise 4: Prepare adjusting joumal entries to update the accounting records for 2022 (where appropriate, use the space under the joumal entry to show your calculation for the amount used in the journal entry) and then post these journal entrles to the t-accounts (Step 4 in the Accounting Oyde). a. Miller's balance in the Supplies account can be found in the Unadjusted Trial Balance (Exercise 3). Adjust this account to its proper balance using the following information: Miller took a physical count of its supplies closet on 12/31/22 and found that they still had $400 of supplies on hand at year-end. Record the Adiustine Entrv needed on Maller's books at 12/31/22: b. Refer back to Exercise 1, transaction # 6 . Miller incurs interest cost of $200 per month on the outstanding loan balance. The interest will not be paid until the loan matures on 4/1/2023. Record the Adiustina Entrv Miller would record for accrued interest at 12/31/22. c. Refer back to Exercise 1, transaction H7. A portion of the rent paid for in 2022 has expired as of year-end. flecred the Aallustine Fntru for the pxnired rant roct at 12/21/32: d. Refer back to Exercise 1, transaction H8. As of year-end, Miller earned a portion of the cash received in advance for legal services. Pecord the AdiustinR Entry needed on Miller's books at 12/31/22: e. Refer back to Exercise 1, transaction \$10. A portion of the insurance paid for in 2022 was used by year-end. Record the Adiustine Entrv for the exoired insurance at 12/31/22: f. Miller pays its employees every Friday for the hours they work during the week (Monday - Friday). The amount of the payroll is $1,125 per day and December 31, 2022 is a Wednesday. Record the Adjusting Entry needed on Miller's books for saiaries earned by employees in 2022 but not paid untiil 2023: g. Miller performed $32,000 of legal services on 12/28/22 for a dient. Miller had not billed the client as of 12/31/22. Record the Adiustina Fntrv needed at 13/31/22. h. Miller received invoices from vendors in 2023 related to expenses incurred in 2022 in the amount of $2,650. The expenses were for Utilities $1,500; Advertising $650; and Telephone $500. Record the Adiustina Entrv needed at 12/31/22 : Post adjusting entrres a h to the following t-accounts. THESE T-ACCOUNTS MUST BCGIN WITH THE BAAACES FROM THE UNADJUSTED TRuL BALANCE (Exerclse 3). Once posted, calculate ending balances and then prepare an adjusted trial balance (5tep 5 in the Accounting Cycle). Exercise 5: Prepare an adjusted trial balance (Step 5 in the Accounting Cycle) using the adjusted balances from the t-accounts calculated in Exercise 4 above. I Exercise 4: Prepare adjusting joumal entries to update the accounting records for 2022 (where appropriate, use the space under the joumal entry to show your calculation for the amount used in the journal entry) and then post these journal entrles to the t-accounts (Step 4 in the Accounting Oyde). a. Miller's balance in the Supplies account can be found in the Unadjusted Trial Balance (Exercise 3). Adjust this account to its proper balance using the following information: Miller took a physical count of its supplies closet on 12/31/22 and found that they still had $400 of supplies on hand at year-end. Record the Adiustine Entrv needed on Maller's books at 12/31/22: b. Refer back to Exercise 1, transaction # 6 . Miller incurs interest cost of $200 per month on the outstanding loan balance. The interest will not be paid until the loan matures on 4/1/2023. Pecord the Adiustine Entrv Miller would record for accrued interest at 12/31/22. c. Refer back to Exercise 1, transaction H7. A portion of the rent paid for in 2022 has expired as of year-end. Reered the Aallustino Fntru for the pxnired rant roct at 12/21/32: d. Refer back to Exercise 1, transaction ur. As of year-end, Miller earned a portion of the cash received in advance for legal services. Pecord the Adiustine Entry needed on Miller's books at 12/31/22: e. Refer back to Exercise 1, transaction \$10. A portion of the insurance paid for in 2022 was used by year-end. Record the Adiustine Entrv for the exoired insurance at 12/31/22: f. Miller pays its employees every Friday for the hours they work during the week (Monday - Friday). The amount of the payroll is $1,125 per day and December 31, 2022 is a Wednesday. Record the Adjusting Entry needed on Miller's books for saiaries earned by employees in 2022 but not paid untiil 2023: g. Miller performed $32,000 of legal services on 12/28/22 for a dient. Miller had not billed the client as of 12/31/22. Record the Adiustina Fntrv needed at 13/31/22. h. Miller received invoices from vendors in 2023 related to expenses incurred in 2022 in the amount of $2,650. The expenses were for Utilities $1,500; Advertising $650; and Telephone $500. Record the Adiustina Entrv needed at 12/31/22 : Exercise 4: Prepare adjusting joumal entries to update the accounting records for 2022 (where appropriate, use the space under the joumal entry to show your calculation for the amount used in the journal entry) and then post these journal entrles to the t-accounts (Step 4 in the Accounting Oyde). a. Miller's balance in the Supplies account can be found in the Unadjusted Trial Balance (Exercise 3). Adjust this account to its proper balance using the following information: Miller took a physical count of its supplies closet on 12/31/22 and found that they still had $400 of supplies on hand at year-end. Record the Adiustine Entrv needed on Maller's books at 12/31/22: b. Refer back to Exercise 1, transaction # 6 . Miller incurs interest cost of $200 per month on the outstanding loan balance. The interest will not be paid until the loan matures on 4/1/2023. Record the Adiustina Entrv Miller would record for accrued interest at 12/31/22. c. Refer back to Exercise 1, transaction H7. A portion of the rent paid for in 2022 has expired as of year-end. flecred the Aallustine Fntru for the pxnired rant roct at 12/21/32: d. Refer back to Exercise 1, transaction H8. As of year-end, Miller earned a portion of the cash received in advance for legal services. Pecord the AdiustinR Entry needed on Miller's books at 12/31/22: e. Refer back to Exercise 1, transaction \$10. A portion of the insurance paid for in 2022 was used by year-end. Record the Adiustine Entrv for the exoired insurance at 12/31/22: f. Miller pays its employees every Friday for the hours they work during the week (Monday - Friday). The amount of the payroll is $1,125 per day and December 31, 2022 is a Wednesday. Record the Adjusting Entry needed on Miller's books for saiaries earned by employees in 2022 but not paid untiil 2023: g. Miller performed $32,000 of legal services on 12/28/22 for a dient. Miller had not billed the client as of 12/31/22. Record the Adiustina Fntrv needed at 13/31/22. h. Miller received invoices from vendors in 2023 related to expenses incurred in 2022 in the amount of $2,650. The expenses were for Utilities $1,500; Advertising $650; and Telephone $500. Record the Adiustina Entrv needed at 12/31/22 : Post adjusting entrres a h to the following t-accounts. THESE T-ACCOUNTS MUST BCGIN WITH THE BAAACES FROM THE UNADJUSTED TRuL BALANCE (Exerclse 3). Once posted, calculate ending balances and then prepare an adjusted trial balance (5tep 5 in the Accounting Cycle). Exercise 5: Prepare an adjusted trial balance (Step 5 in the Accounting Cycle) using the adjusted balances from the t-accounts calculated in Exercise 4 above