Question

5 Required information C4-6 Recording/Posting Transactions and Adjustments, and Preparing Trial Balances and Financial Statements-Requires Calculating Depreciation and Interest (Chapters 2, 3, and 4) (LO 2-3, LO 3-3, LO 4- 2, LO 4.4) Fast Deliveries, Inc. (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below. FAST DELIVERIES, THC. Balance Sheet at January 1 Assets Liabilities: Cash $10,900 Accounts Payable $ 500 Accounts Receivable Stockholders' Equity: Supplies 11,410 Retained tarnir Total Assets $12,410 Total Liabilities and Stockholders' Equity $12.410 740 770 Common Stock 500 Two employees have been hired, at a monthly salary of $2,900 each. The following transactions occurred during January of the current year.

Answer 1

Jackson Consulting
Adjusted trial balance
Jan 31
Account title		Debit	Credit
Cash		29,900
Accounts receivable		7,040
Supplies		1,870
Prepaid rent		3,600
Prepaid Insurance		4,500
Equipment		19,200
Accumulated Depreciation—Equipment			0
Accounts Payable			1,100
Deffered revenue			3,900
Salaries and Wages payable			0
Interest payable			0
Notes payable (long term)			28,800
Common stock			16,410
Retained earnings			500
Service Revenue			18,300
Salaries and wages expense		2,900
Totals		69,010	69,010

Unadjusted trail balance prepared using the "Unadj. Bal" raw.

XI 5 2020-09(2) SEP.xlsx - Microsoft Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER Sign in S18 : X fi A B с D E F G H I J L M N 0 P 0 R S T K Liabilities 2 Assets Stockholder's equity Income statement Common Retained stock earnings Revenue Expenses 11,410 500 1719 Maintainace and repair expense 5,000 Accumul Salaries Interes Notes Accounts ated and t payable receivabl Prepaid Prepaid Equipme depreciat Accounts Deffered Wages payabl (long 3 Cash e Supplies rent rent Int ion payable revenue payable le term) 4 Beg. Bal 10,900 740 770 500 5 Jan 1 (4,500) 4,500 6 Jan 2 (3,600) 3,600 7 Jan 3 28,800 28,800 8 8 Jan 4 (19,200) 19,200 9 Jan 5 5,000 10 Jan 6 1,100 1,100 11 Jan 7 600 (600) 12 Jan 8 (500) (500) 13 Jan 9 10,500 14 Jan 10 7,800 15 Jan 16 (2,900) 16 Jan 20 3,900 3,900 17 Jan 25 3,600 (3,600) 18 Unadj. Bal 29,900 7,040 1,870 3,600 4,500 19,200 1,100 3,900 28,800 19 20 Unadj. Bal 29,900 7,040 1,870 3,600 4,500 19,200 1,100 3,900 28,800 21 31a 1,200 22 31b (1,660) 23 31c (2,340) 24 31d 96 25 31e (400) Sheet127 Sheet128 Sheet129 Sheet130 Sheet131 Sheet132 Sheet133 Sheet134 READY CIRCULAR REFERENCES 10,500 7,800 (2,900) Salaries and wages expense 16,410 500 18,300 (2,900) 16,410 500 18,300 2,340 (2,900) (1,200)| Utilities expense (1,660) Supplies expense (1870-210) Earned revenue (3900*60%) (96) Interest expense (28800*4%*1/12) (400)| Depreciation expense ((19200/4)*1/12 Go to Settings to activate Windows ( 3 1 + 100% Search the web and Windows O ENG US 07:12 22-09-20

XIA 5 2020-09(2) SEP.xlsx - Microsoft Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER Sign in H9 : X А. B с D E F G K L M N o P Q R S T LA H 1 Balance sheet 1 2 Assets Liabilities Stockholder's equity Income statement Common Retained stock earnings Revenue Expenses 5,000 10,500 7,800 (2,900) Salaries and wages expense Accumul Salaries Interes Notes Accounts ated and It payable receivabl Prepaid Prepaid Equipme depreciat Accounts Deffered Wages payabl (long 3 Cash Supplies rent rent nt ion payable revenue payable le term) 9 Jan 5 5,000 10 Jan 6 1,100 1,100 11 7 600 (600) 12 Jan 8 (500) (500) 13 Jan 9 10,500 14 Jan 10 7,800 15 Jan 16 (2,900) 16 Jan 20 3,900 3,900 17 Jan 25 3,600 (3,600) 18 Unadj. Bal 29,900 7,040 1,870 3,600 4,500 19,200 1,100 3,900 28,800 19 20 Unadj. Bal 29,900 7,040 1,870 3,600 4,500 19,200 1,100 3,900 28,800 21 31a 1,200 22 31b (1,660) 23 31c (2,340) 24 31d 96 25 31e (400) 26 31f 2,900 27 31g (300 (375) 28 Adjusted Ball 29,900 7,040 210 3,300 4,125 (400) 2,300 1,560 2,900 96 28,800 29 Sheet127 Sheet128 Sheet129 Sheet 130 Sheet131 Sheet132 Sheet133 Sheet134 READY CIRCULAR REFERENCES 16,410 500 18,300 (2,900) 16,410 500 18,300 2,340 (2,900) (1,200) Utilities expense (1,660) Supplies expense (1870-210) Earned revenue (3900*60%) (96) Interest expense (28800*4%*1/12) (400) Depreciation expense ((19200/4) *1, (2,900) Salaries and wages expense (1450** (675) Prepaid rent (3600/12) (9,831) Prepaid (9,831) Prepaid insuarnce (4500/12) Go to Settings to activate Windows 19,200 16,410 500 20,640 ) 3 + 100% 07:34 i Search the web and Windows O ENG US 22-09-20