Reference no: EM132774912
Question - The following is the unadjusted trial balance for Certified Answering Service on December 31, 2008:
Debited are as follow:
Cash 2,160
Accounts Receivable 1,250
Office Supplies 180
Prepaid Insurance 240
Office Equipment 3,400
S. Goldstein, Withdrawals 400
Wages Expense 1,500
Rent Expense 400
Credited as follows:
Accumulated Depreciation, Office Equipment 600
Accounts Payable 700
Unearned Revenue 460
S. Goldstein, Capital 4,870
Answering Service Revenue 2,900
The total is 9530 USD
The following information is also available:
a. Insurance that expired during December amounted to $40.
b. Office supplies on hand on December 31 totaled $75.
c. Depreciation for December totaled $100.
d. Accrued wages on December 31 totaled $120.
e. Revenues earned for services performed in December but not billed by the end of the month totaled $300.
f. Revenues received in December in advance of services yet to be performed totaled $160.
Requirements -
1. Determine the required adjusting entries, and record them directly in the T accounts. Open new T accounts as needed.
2. How to Prepare an adjusted trial balance.
3. How to Prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended December 31, 2008.
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