Quiz 2: Prepare adjusting entries, post to general ledger accounts and worksheet and prepare Adjusted Trial balance column of worksheet.
A. A count indicates the computer supplies used during the month were $540
B. The estimated useful life of the computer system is 5 years and the equipment is 7 years, record 1 month of depreciation.
C. The bank statement revealed $25 in bank charges.
D. Payroll taxes due for wages paid to Tucker include FICA taxes at 7% and FUTA taxes at 1%.
E. The company received invoices from vendors:
Utility company $ 175
Pesticides 2,800
F. Record interest payable on the note payable.
G. Sandra estimates that 1% of Accounts Receivable will be uncollectible.
1. Record the adjusting journal entries
2. Post the journal entries to the worksheet and the general ledger accounts.
3. Prepare the adjusted trial balance in the worksheet
(Show any calculations in the boxes provided. Use the template provided.)
Need this done within the next 5 hours
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