Omplete the following exercises according to the instructions.

Complete the following exercises according to the instructions.finish thethree question below
Your ability to follow the instructions, neatness and accuracy will be graded.

Problem 1. Dunk-in Donuts has annual accounting periods ending December 31. On December 31, 2011, after all transactions were recorded, the bookkeeper prepared the trial balanced of accounts:


Trial Balance
Dunk-In Donuts a December 31, 2011
Debit Credit
Cash $ 2,500 $
Supplies 1,250
Prepaid Insurance 1,000
Food and Beverage Inventory 2,000
Equipment 10,000
Accumulated Depreciation, Equipment 4,000
Building 40,000
Accumulated Depreciation, Building 6,000
Land 3,000
Accounts Payable 600
Mortgage Payable 20,000
Donald Weeks, Capital 12,750
Donald Weeks, Drawing 4,000
Food and Beverage Sales 85,000
Cost of Food and Beverage Sales 26,600
Salaries Expense 30,000
Advertising Expense 1,000
Utilities Expense 3,000
Supplies Expense 2,000
Interest Expense 2,000
Totals: $ 128,350 $ 128,350


Required:

1) Open the following T-accounts: Supplies; Prepaid Insurance; Food and Beverage Inventory; Accumulated Depreciation, Equipment; Accumulated Depreciation, Building; Salaries Payable; Cost of Food and Beverage Sales; Salaries Expense; Depreciation Expense, Building; Supplies Expense and Insurance Expense.



2) Prepare and post adjusting entries based on the following information:

a) The physical count of the food and beverage inventory on December 31, 2011, is $1,650
b) Insurance expired during the year, $500
c) Estimated depreciation of equipment for the year, $1,500
d) Estimated depreciation of the building for the year, $2,500
e) Salaries earned by workers between December 28 (payday) and December 31, $200
f) Physical count of supplies on December 31, 2011, $1,100

Problem 2. The following is an adjusted trial balance and adjusting entries prepared by an accountant for Milfordas Fish House restaurant. Now the financial statements must be prepared from the adjusted trial balance.
Adjusted Trial Balance
Milfordas Fish House a December 31, 2010
Debit Credit
Cash $ 32,522 $
Short-Term Investments 12,000
Accounts Receivable 17,000
Food and Beverage Inventory 9,200
Equipment 35,000
Accumulated Depreciation, Equipment 5,000
Building 167,000
Accumulated Depreciation, Building 40,000
Accounts Payable 7,000
Accrued Wages 600
Note Payable 15,000
Mortgage Payable 79,000
Jerry Young, Capital 58,999
Jerry Young, Drawing 4,600