The unadjusted trial balance of Lukas Films Corporation includes the following account balances at December 31, 2020, its fiscal year-end. Assume all accounts have normal debit or credit balances as applicable.

The following information applies at December 31:

1. A physical count of supplies indicates that Rwf300 of supplies have not yet been used at December 31.
2. A Rwf75 telephone bill for December has been received but not recorded.
3. One day of wages amounting to Rwf125 remains unpaid and unrecorded at December 31; the amount will be included with the first Friday payment in January.
4. The equipment was purchased December 1; it is expected to last 2 years. No depreciation has yet been recorded.
5. The prepaid rent is for December 2020, and January and February 2021; rent is Rwf500 per month.
6. Half of the advertising revenue has been earned at December 31.
7. The Rwf900 amount in Insurance Expense is for a one-year policy, effective July 1, 2020.

Required: Prepare all necessary adjusting entries at December 31, 2020. Descriptions are needed.

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or
2. A physical count showed office supplies totalling $340 were still on hand at 30
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services completed in

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $340 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the month.
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services completed in June.

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).
Helena’s Hire Cars
Trial Balance
As at 30 June 2019
Account Debit Credit
Cash at bank 18,140
Accounts receivable 21,340
Office supplies 640
Prepaid advertising 3,880
Hire cars 93,600
Accumulated Depreciation – hire cars 39,400
Accounts payable 10,800
Unearned hire fees 2,260
Helena, Capital 68,340
Helena, Drawings 20,600
Hire fees revenue 98,700
Wages expense 50,620
Fuel and oil expense 10,680
219,500 219,500
Additional information
a. Petrol purchased on credit for $680 and used during the last week in June has not been paid for
or recorded.
b. A physical count showed office supplies totalling $340 were still on hand at 30 June.
c. Depreciation for 1 year on the hire cars is $12,400.
d. Prepaid advertising has a balance of $600 at the end of the month.
e. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services
completed in June.
Required:
Prepare a 10-column worksheet for the year ended 30 June 2019.

The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing’s 2021 financial statements were issued on April 1, 2022.
   

   
Other information:

1. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 15%, payable at maturity.
2. The mortgage note is due on March 1, 2022. Interest at 14% has been paid up to December 31 (assume 14% is a realistic rate). Manufacturing intended at December 31, 2021, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing paid $477,500 in cash on the principal balance and refinanced the remaining $982,500.
3. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,850. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and apply the overpayments to those future purchases.
4. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $36,600 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue.

   
Required:
1. Prepare any necessary adjusting journal entries at December 31, 2021, pertaining to each item of other information (a–d).
2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet.

The unadjusted trial balance of Conrad ltée included the following information:

Cash sales: $250 000

Credit sales: $600 000

Accounts receivable: $160 000

Prepare the journal entries to adjust the Allowance for doubtful accounts (A.F.D.A.) account under each of the following situations:

1. The estimated bad debts are 2.5% of credit sales and the A.F.D.A. account has a $2500 debit balance. 
2. The estimated bad debts are 3% of accounts receivable and the A.F.D.A. account has a $2500 credit balance.
3. The estimated bad debts are 3% of accounts receivable and the A.F.D.A. account has a $2500 debit balance.

(1/2/3 SEPARATED)

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $340 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the month.
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services completed in June.

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $340 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the month.
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services completed in June.

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

The unadjusted trial balance of S&M Corporation as on June 30, 2020 are as follows:  

S&M’s effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is  $689,640. 

Instructions 

∙ Prepare income statement and balance sheet.  

2. The unadjusted trial balance of S&M Corporation as on June 30, 2020 are as follows: Cash $188,640 Salaries and wages expense (sales) $287,640 Inventory 538,640 Salaries and wages expense (office) 349,640 Sales revenue 4,278,640 Purchase returns 18,640 Unearned sales revenue 120,640 Sales returns and allowances 82,640 Purchases 2,789,640 Freight-in 75,640 Sales discounts 37,640 Accounts receivable 146,140 Purchase discounts 30,640 Sales commissions 86,640 Selling expenses 72,640 Telephone and Internet expense (sales) 20,640 Accounting and legal services 36,640 Utilities expense (office) 35,640 Insurance expense (office) 27,640 Miscellaneous office expenses 11,640 Advertising expense 57,640 Rent revenue 243,640 Delivery expense 96,640 Extraordinary loss (before tax) 73,640 Depreciation expense (office equipment) 51,640 Interest expense 179,640 Depreciation expense (sales equipment) 39,640 Common stock ($10 par) 903,640 S&M’s effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $689,640.
Instructions
 Prepare income statement and balance sheet.

The unadjusted trial balance of Mighty Fine Services Inc. includes the following account balances at December 31, 2020, its fiscal year-end. No adjustments have been recorded. Assume all accounts have normal debit or credit balances.

The following information applies to the fiscal year-end:

1. The Rwf600 prepaid insurance is for a one-year policy, effective September 1, 2020.
2. A physical count indicates that Rwf300 of supplies is still on hand at December 31.
3. Interest on the bank loan is paid on the fifteenth day of each month; the unrecorded interest for the last 15 days of December amounts to Rwf25.
4. The Subscription Revenue account consists of a cash receipts for 6- month subscriptions to the corporation’s Computer Trends report; the subscription period began December 1.
5. Three days of salary amounting to Rwf300 remain unpaid at December 31, in addition to the previous week’s salaries of Rwf500, which have not yet been paid.
6. The monthly rent expense amounts to Rwf300.
7. A bill for December truck operating expense has not yet been received; an amount of Rwf400 is owed.

Required: Prepare all necessary adjusting entries at December 31, 2020.