Requirement #4:

Prepare adjusting entries using the following information in the General Journal
below. Show your calculations!

a) One month’s insurance has expired.

b) The remaining inventory of landscaping supplies is $388.

c) The estimated depreciation on landscaping equipment is $140.

d) The estimated income taxes are $80.

General Journal
Date Description(Account Name) Debit Credit
8/1/2012 Insurance Expense 200 2400/12
Prepaid Insurance 200
Supply Expense 392 780-388
Landscape Supply 392
Depreciation Expese 140 no calc
Accuulated Depreciation 140
Tax Expense 80 no calc
Tax Payable 80

Requirement #5:

Post the adjusting entries to the General Ledger T-accounts and compute adjusted balances.
Just add to the balances that are already listed.