accounting questions

    Jacksonville Financial Services Co., which specializes in appliance repair services, is owned and operated by Cindy Latty.  Jacksonville Financial Services Co.’s accounting clerk prepared the unadjusted trial balance at December 31, 2011, shown below.                         Jacksonville Financial Services Co.        Unadjusted Trial Balance         December 31, 2011                        Debit Credit          Balances Balances     Cash   10,200       Accounts Receivable  34,750       Prepaid Insurance  6,000       Supplies   1,725       Land   50,000       Building   80,750       Accumulated Depreciation — Building  37,850     Equipment  45,000       Accumulated Depreciation — Equipment  17,650     Accounts Payable    3,750     Unearned Rent    3,600     Capital Stock    25,000     Retained Earnings    78,550     Dividends   8,000       Fees Earned    158,600     Salaries and Wages Expense 56,850       Utilities Expense  14,100       Advertising Expense  7,500       Repairs Expense  6,100       Miscellaneous Expense 4,025           325,000 325,000                             The data needed to determine year end adustments are as follows:                 (a)Depreciation of building for the year, $2,100.       (b)Depreciation of equipment for the year, $3000.      (c)Accrued salaries and wages at December 31, $800.      (d)Unexpired insurance at December 31, $1,500.       (e)Fees earned but unbilled on December 31, $2,150.      (f)Supplies on hand at December 31, $600.       (g)Rent unearned at December 31, $1,500.                   Please use the drop-down list (right of the cell) to enter the account description box on the worksheet.              To Do:           Using the form provided on the next worksheet, journalize the adjusting entries.  Add additional accounts as needed.       Wizard Services Co. offers security services to business clients.                To Do:          1.Complete the following end of period spreadsheet (work sheet) for Wizard Services Co.   Please use the drop-down list (right of the cell) to enter the account description box on the worksheet.           2.Prepare the following:        a. an income statement for July       b. a retained earnings statement for July       c. a balance sheet as of July 31.         

Wizard Services  Co.

   The cash account for Interactive Systems at February 28, 2011 indicated a balance of $7,635.  The bank statement indicated a balance of $13,333 on February 28, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:              a.Checks outstanding totaled $4,118         b.A deposit of $4,500, representing receipts of February 28, had been made too late to appear on the bank statement. c.The bank had collected $5,200 on a note left for collection.  The face of the note was $5,000.    d.A check for $290 returned with the statement had been incorrectly recorded by Interactives Systems as $920.  The check was for the payment of an obligation to Busser Co. for the purchase of office supplies on account.e.A check drawn for $415 had been incorrectly charged by the bank as $145.     f.Bank service charges for February amounted to $20.                                                 To Do:                           1Prepare a bank reconciliation.  Use the provided form on the following worksheet.      Please use the drop-down list (right of the cell) to enter the account description box on the worksheet.                 2Journalize the necessary entries.  The accounts have not been closed.  Use the provided form on the following worksheet.