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Required information The folosing information applies to the questions displayed below Francinel Fest Deliveries, Inc. ( FD) was organized in December of 2011. It had limited activity in 2011 The resulting balance sheet at the beginning of 2012 is provided below Assets Cash Accounts Receivable Supplies Francine's Fast Deliveries, Inc. Balance Sheet at January 1, 2012 Liabilities: $2225 Accounts Payable $ 2,010 1400 Stockholders' Equity 1200 Contributed Capital $2,000 Retained Earnings 815 $4,825 Total Liabilities & Sok. Equity $4,825 Total Assets January Transactions for Francine's Fast Deliveries, Inc. (FFD) ed for ons besin Janube po Date 1 Owners invest $36.000 of additional cash in the business. 20 Supplies are purchased for $1,500 on account 2b Insurance is paid for 12 months beginning January 1$9,300 (Record as an asset 2 Rent is paid for 3 months beginning in January $5,400 (Record as an asset 2d TWO employees are hired. Esch employee will be paid $2130 per month 3 FFD borrows $40.000 from St State Bank at 6% annual interest. A delivery van is purchased for cash. Including to the total cost was $72,000. It 6 will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation will be charged in January 7 $980 of the receivables from December's sales are collected. 8 $1608 of the accounts payable from December are paid. 9 Performed services for customers on account. Mailed invoices totaling $12,000. 10 Services are performed for cash customers: $8,400. 16 Woges for the first half of the month are paid on January 16: $2.130. The company receives $5,000 from a customer for an advance order for services 20 to be provided in January and February 25 Collections from customers on account (see January 9 transaction $4.800 The last 2 weeks wages earned by employees are $1,065 per employee and will be paid on February 3 30 A $ 355 utility b for January arrived. It is due on February 15. 300 Additional Information for adjusting entries at January 31 Supplies on hand on January 31 tots 5540 The company completed 60% of the deliveries for the customer who paid in advance on January 20 Interest is accrued for the bank loon Assume a full month for the 1st State Bank loan.) Record January depreciation e. Adjust the prepaid assetRent and Insurance accounts as needed. 4.-5. Analyze the accounts and prepare the adjusting entries required using the additional information provided. Post the adjusting entry activity to the T-Accounts in Requirement #2 (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field) View transaction lit View Journal entry worksheet General Joumal No 1 Date Jan. 31a / Supplies Expense Supplies Jan. 31b Unearned Revenue Service Revenue Jan. 310 Interest Expense Interest Payable Jan. 31d Depreciation Expense Accumulated Depreciation Equipment Jan 31e Insurance Experie Prepaid Insurance anle Rent Expense Prepad Rent

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