Reference no: EM132890858

Question - Banner Services unadjusted trial balance at the end of December 2019 is presented below. Adjusting entries have not yet been made. Use the trial balance and the information below to complete the worksheet.

Dec 31: Services were provided worth $460, to be paid next month.

Dec 31: The equipment was purchased at the beginning of the year and is expected to last four years with no residual value.

Dec 31: Of the balance of unearned revenue, $440 has been earned.

Dec 31: The amount in prepaid insurance is for an annual policy that was paid on September 1, 2019.

Unadjusted Trial Balance:

Cash 1,900

Accounts Receivable 2,800

Prepaid Insurance 1,800

Equipment 5,900

Accumulated Depreciation 0

Accounts Payable 2,400

Unearned Revenue 1,500

Bank Loan 1,700

Banner, Capital 2,500

Banner, Withdrawals 1,800

Service Revenue 11,800

Depreciation Expense 0

Insurance Expense 0

Maintenance Expense 900

Rent Expense 1,900

Salaries Expense 1,300

Telephone Expense 700

Travel Expense 900

DR Total 19,900 and CR total is 19,900

Required - Calculate a Net Income, Total, Adjustments Adjusted Trial Balance, Income Statement Balance Sheet.