Reference no: EM133130894

Question 1 - Rejuvenation Spa provides a relaxing retreat for people wishing to relax and unwind. During the month of November 2013, the following transactions took place:

Nov 3 Provided services to a customer on account $3,200

Nov 4 Borrowed cash from the bank $2,000

Nov 6 Provided services to a customer for cash $2,300

Nov 10 Maintenance was performed on the building and will be paid later $320

Nov 11 Paid cash to reduce the balance of accounts payable $820

Nov 15 Collected cash from customers owing on account $2,000

Nov 20 Paid the amount owing from Nov 10 $320

Nov 21 Paid a portion of bank loan principal $1,500

Nov 27 Paid utilities for the month with cash $1,700

Nov 30 Purchased equipment and paid cash $2,900

Required - Prepare the journal entries for the above transactions.

Question 2 - Swordfish Programming provides computer solutions to the security industry. At the end of December 2014, they had the following adjustments:

A count of office supplies showed that there was $410 remaining in the office.

The balance of prepaid insurance is for a 6 month policy, one month of insurance has been used.

During December, Swordfish Programming earned $950 of unearned revenue.

Property, plant and equipment depreciated $220 during December.

Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet.