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Problem - The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.
Account Name
Balance
Cash
7,700
Accounts Receivable
2,250
Supplies
2,100
Prepaid Insurance
770
Equipment
20,500
Accumulated Depreciation-Equipment
4,400
Accounts Payable
3,450
Roger Dye, Capital
16,500
Roger Dye, Drawing
4,200
Fees Income
19,800
Supplies Expense
820
Insurance Expense
670
Depreciation Expense-Equipment
620
Salaries Expense
Utilities Expense
1,070
Required - Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.
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