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Note to students: Ensure that you make all your corrections to your Part 4 work before starting Part 5. You will be using the same Excel worksheets for Part 5 as you used for Part 4. That is, you will just continue with the same general journal and same general ledger. On January 2, 2024, you receive the following email from your supervisor: Hi [Student Name], Based on discussions I had with Rose, the following information is available to you. Please record the adjusting journal entries using this information. (1) December 31: As at December 31, the following students had received lessons that they have not yet paid for: Student Amount owing Mr. Johnson 60.00 $ Mr. Saunders 30.00 Ms. McVey 60.00 (2) Rose has indicated the she had office supplies costing $124.00 on hand at December 31 base on her count of the supplies. (3) [Make the adjusting entry for prepaid rent.] (4) The 2023 depreciation expense on property, plant, and equipment has been correctly calculated (by your supervisor) at the following amounts Computer equipment 600 $ Pianos 328 (5) All of the unearned lesson revenue has been earned by December 31. (6) [Accrue $200 for bookkeeping/accounting fees for December.] (7) [Accrue interest expense on the bank loan for December. The calculation is: Dec. 1 loan balance X 9.0% /12 NOTE: Dec. 1 loan balance is AFTER the December 1 loan payment (8) Once you have journalized the above adjusting entries, you must prepare the December 31 bank reconciliation. You will need the 2 files that are attached to this email (attachments are below]The completed November 30 bank reconciliation Rose Temple Piano Teacher Bank Reconciliation November 30, 2023 Balance per bank statement................... 13,266.58 $ Less: Outstanding cheques: Repairs Exp. #215....... 59.61 $ Advertising Exp #216....... 167.86 108.25 Balance per general ledger Cash acct.. 13,098.72 $ Attachment #2 The Bank Statement for December, 2023 CIBC Statement of Current Account for Rose Temple Piano Teacher For Month of December 2023 Date Item Debit Credit Balance Nov30 Balance 13,266.58 Dec1 Auto 233.00 13,033.58 Dec5 Dep 92.00 13,125.58 Dec6 Ch 217 4,200.00 8,925.58 Dec6 Dep 5,250.00 14,175.58 Dec13 Ch 215 57.61 14,117.97 Dec20 WD 3,000.00 11,117.97 Dec27 Ch 219 279.50 10,838.47 Dec31 SC 14.50 10,823.97 Part 5 instructions continued: (9) Next, record the last adjusting entry, resulting from your bank reconciliation. (10) Finally, post your adjusting entries to the general ledger and prepare the adjusted trial balance at December 31, 2023. Copyright 2022 Terry Kosowick and Brad Steinbart. All rights reserve

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