i need help with these problems in accounting

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1. Prospect Realty Co. pays weekly salaries of $27,600 on Monday for a six-day workweek ending the preceding Saturday.

Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday. Refer to the Chart of Accounts for exact wording of account titles.

2. The prepaid insurance account had a beginning balance of $4,500 and was debited for $16,600 of premiums paid during the year.

Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $5,600. Refer to the Chart of Accounts for exact wording of account titles.

3. Effect of Errors on Adjusted Trial Balance

For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.

a. The adjustment for accrued wages of $5,200 was journalized as a debit to Wages Expense for $5,200 and a credit to Accounts Payable for $5,200.



Enter the difference between the debit and credit totals. If the totals are equal, enter a zero.
$



b. The entry for $1,125 of supplies used during the period was journalized as a debit to Supplies Expense of $1,125 and a credit to Supplies of $1,152.



Enter the difference between the debit and credit totals. If the totals are equal,

enter a zero.
$



4. Garcia Realty Co. pays weekly salaries of $17,250 on Friday for a five-day workweek ending on that day.

Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Wednesday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles.

5. Blake Knudson owns and operates Grab Bag Delivery Services. On January 1, 2018, Retained Earnings had a balance of $918,000. During the year, no additional common stock was issued, and $15,000 of dividends were paid. For the year ended December 31, 2018, Grab Bag Delivery reported a net loss of $43,500.

Prepare a retained earnings statement for the year ended December 31, 2018. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement.


6. After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.:

Retained Earnings $643,600
Dividends 10,500
Fees Earned 356,500
Wages Expense 283,100
Rent Expense 56,000
Supplies Expense 11,500
Miscellaneous Expense 13,000

Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles

7. Taser Consulting is a consulting firm owned and operated by Annamarie Phipps. The following end-of-period spreadsheet was prepared for the year ended October 31, 2018:

Taser Consulting
End-of-Period Spreadsheet
For the Year Ended October 31, 2018
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 45,000 45,000
Accounts Receivable 119,200 119,200
Supplies 11,900 7,500 4,400
Office Equipment 400,000 400,000
Accumulated Depreciation 56,000 6,000 62,000
Accounts Payable 20,500 20,500
Salaries Payable 9,000 9,000
Common Stock 75,000 75,000
Retained Earnings 180,700 180,700
Dividends 25,000 25,000
Fees Earned 800,000 800,000
Salary Expense 520,000 9,000 529,000
Supplies Expense 7,500 7,500
Depreciation Expense 6,000 6,000
Miscellaneous Expense 11,100 11,100
1,132,200 1,132,200 22,500 22,500 1,147,200 1,147,200
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Taser Consulting. Be sure to read the instructions for each financial statement carefully.

This is how you journal:

JOURNAL ACCOUNTING EQUATION

DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY

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