Neccessary adjusted journal entries

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Reference no: EM13973951

Given the journal entries below, make the neccessary adjusted journal entries.

1/15 PBP purchased a camera from Good Co. on account for $3000. The useful life is 5 years.

1/24 PBP purchased a computer for $756. The useful life is 3 years.

1/26 PBP purchased a photo printer for $1200. The useful life is 2 years.

1/26 PBP purchased photo supplies for $500.

1/31 PBP received a $300 deposit from Mr. Moy to provide photography services at his wedding on February 4

2/6 PBP delivered photos to Mr. Moy and billed Mr. Moy for the final payment of $200.

2/8 PBP paid $1000 to Good Co.

2/14 PBP provided photo services to Sweet Hearts Anonymous at the Valentines Day dance and received $250.

2/21 PBP was hired to take photos at a sports banquet to be held on March 15th. The price was $1000 plus travel expenses with a down payment of $250.

2/22 PBP purchased photos supplies for $800 from Photo Chemical Company.

2/23 PBP paid $1500 to Good Co.

2/25 PBP received a phone bill for $86

2/28 PBP paid $500 for a malpractice insurance policy for one year.

2/28 PBP sold additional photos taken at the Valentines Day Dance for $450

3/1 PBP paid a $100 deposit to rent a booth at the county fair to be held in June.

3/3 PBP received payment from Mr. Moy

3/8 PBP paid the phone bill.

3/15 PBP took photos at the sports banquet and billed the customer for the balance. The travel expenses paid by PBP were $75.

3/19 PBP paid $500 to Good Co.

3/22 PBP received a phone bill for $98

3/28 PBP received payment from Sports Banquet

3/31 PBP landed a $5000 contract to photograph the youth baseball club in April. BPB received a down payment of $2000

4/3 PBP paid the phone bill

4/5 PBP purchased a $9000 photographic copy machine from Good Company on account. The useful life is 6 years.

4/12 BPB photographed ½ of the baseball club events scheduled for April and billed YBC for $500.

4/21 BPB received a phone bill for $84

4/29 BPB paid $287 for auto repairs that occurred while photographing the remainder of the events for YBC. BPB billed YBC for $2500 for the work performed.

5/3 BPB paid the phone bill

5/8 BPB received payment in full from YBC

5/15 BPB paid $1200 to Good Co.

5/18 BPB obtained permission to photograph the Nicetown Highschool graduation on May 28th.

5/20 BPB purchased $2500 of Photo supplies

5/28 BPB photographed the graduation and received prepaid orders for $3600 of photos.

5/29 BPB received a phone bill for $108

5/31 BPB delivered $1200 of the graduation photos.

6/3 BPB paid the phone bill

6/8 BPB paid $1000 to Good Co.

6/15 BPB participated in the County Fair with the following results:

Received prepaid orders of $5000 for photos to be delivered by the July 15th.

Sold prints of prior photos for $1400.

Paid $1500 for the rental of the booth.

Paid $491 for travel expenses.

6/21 BPB delivered the remainder of the graduation photos.

6/27 BPB received a phone bill for $211

6/28 BPB delivered $1800 of the photos for the County Fair.

Monica also has a shoebox of gas receipts that totals $782 for her business trips during the 6 months.

Monica has done an inventory count and has $118 of supplies left in the closet on June 30.

Reference no: EM13973951

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