There are two homework problems this week.

There are two homework problems this week. The first is below and the second one is on the second tab at the bottom left of the screen
Below you will see an unadjusted trial balance run at year end follwed by information needed to make adjusting entries.
Baltimore Glass Company
Trial Balance
December 31, 2014
Acct.
No.

Account Title
101 Cash
110 Accounts Receivable
120 Merchandise Inventory, 1/1/2014
125 Supplies on Hand
130 Prepaid Insurance
131 Prepaid Rent
150 Equipment
160 Accumulated Depreciation
202 Accounts Payable
210 Wages Payable
301 Capital Stock
302 Retained Earnings, 1/1/2014
401 Sales
405 Sales Returns and Allowances
410 Interest Revenue
500 Purchases
502 Purchases Returns and Allowances
505 Transporatation In
510 Inventory Change
520 Advertising Expense
530 Sales Salaries Expense
532 Supplies Expense
540 Office Salaries Expense
550 Utilities Expense
555 Insurance Expense
560 Professional Fees Expense
570 Depreciation Expense
580 Interest Expense

Debit
88,450
195,613
256,250
3,252
3,500
7,500
175,285

Credit

24,260
72,555
220,000
211,144
998,250
5,145
1,500
556,800
1,200
4,580
1,000
88,600
124,500
8,594
3,000
6,840
1,528,909

1,528,909

Adjusting items:
1. The remaining prepaid insurance at year end is $3,000
2. A physical inventory shows supplies on hand of $2,000 at year end
3. The prepaid rent of $7,500 covers January 2015 rent
4. Depreciation on equipment is $12,000 for the year
5. At year end sales salaries of $3,000 were earned but unpaid
6. At year end office salaries of $4,000 were earned but unpaid
7. A physical inventory of merchandise on hand totals $220,850.
Do the following requirements below. Create proper headings for each statement.
1. Record adjusting journal entries from information above. It is possible that an item may not require an entry