Question

CAN YOU COMPLETE THE QUESTION JUST LIKE FORM BELOW, FILL UP THE BLANK SPACE AND CAN YOU GIVE SOME EXPLANATION TOO. THANK YOU SO MUCH

Problem 4-8A (Part Level Submission) The following is Wolastoq Tours Limited's unadjusted trial balance at its year end, November 30, 2018. The company adjusts its accounts annually. Credit Debit $ 15,400 7,840 950 2,400 9,720 21,120 $ 5,280 129,600 Cash Accounts receivable Supplies Prepaid rent Prepaid insurance Equipment Accumulated depreciation equipment Vehicles Accumulated depreciation-vehicles Accounts payable Unearned revenue Bank loan payable, due 2021 Common shares Retained earnings Fees earned Salaries expense Repairs and maintenance expense Rent expense Interest expense Advertising expense Income tax expense 43,200 2,475 14,000 70,800 10,000 27,225 117,328 71,500 11,510 13,200 4,543 925 1,600 $290,308 $290,308

Answer 1

Sr. No.	Date	General Journal	Debit	Credit
1	Nov 30	Insurance Expense	$6,480		($9,720 x 8/12)
		Prepaid Insurance		$6,480
2	Nov 30	Depreciation Expenses	$24,240
		Accumulated Depreciation - Equipment		$2,640	($21,120 x 1/8)
		Accumulated Depreciation - Vehicles		$21,600	($129,600 x 1/6)
3	Nov 30	Supplies Expense	$650
		Supplies		$650	($950 - $300)
4	Nov 30	Interest Expense	$413		($70,800 x 7% x 1/12)
		Interest Payable		$4,956
5	Nov 30	Unearned Revenue	$14,000
		Fees Earned		$14,000
6	Nov 30	Salaries Expense	$600
		Salaries Payable		$600
7	Nov 30	Accounts Receivable	$1,250
		Fees Earned		$1,250
8	Nov 30	Advertising Expense	$270
		Accounts Payable		$270
9	Nov 30	Rent Expense	$1,200		($2,400/2)
		Prepaid Rent		$1,200
10	Nov 30	Income Tax Expense	$300
		Income Tax Payable		$300