Reference no: EM132797908
Question - Solve the given requirements.
The following is the unadjusted trial balance for Certified Answering Service on December 31, 2008:
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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