Question

The unadjusted trial balance of The Rock Industries Ltd. at January 31, 2017, appears LEARNING Prepare an a and the fina The The Rock Industries Ltd Trial Balance January 31, 2017 S 8,000 10,000 3,000 2,000 36,000 Accounts receivable rent lated depreciation $ 3,000 10,000 Account-Payable able 10 Share ca 11 Reained earnings (December 31, 2016) 12 Dividends 13 Service revenue 4 Salary expense 15 Rent expense s Uhilities expense 17 Depreciation expense s Supplies expense 26,000 13,000 4,000 2000 1,000 14,000 o19 Total $66,000S 66,000 ons 20 bass djusment data: es an a.Acrued service revenue at January 31, $2,000 Perad ent expired during the month. The unadjusted prepaid balance of $3,000 relates the period January through March used d uring January dOpreciaion on furniture for the month. The estimated useful life of the furniture is threei years. t Acrued salary expense at January 31 for Monday, Tuesday, and Wednesday. The five-day Btekly payroll of $5,000 will be paid on Friday, February 2 ents L Uineg Exhbit 3-4, page 126, as an example, prepare the adjusted trial balance of The Rock 2 diustries Ltd at January 31,2017. Key each adjusting entry by letter. Ptpare the income statement, the statement of retained earnings, and the classified bal- e shee Draw arrows linking the three financial statements
Requirement 2 please

Answer 1

Adjusted Trial Balance
Cash	$8,000
Accounts receivable	$12,000
Prepaid rent	$2,000
Supplies	$0
Furniture	$36,000
Accumulated Depreciation		$4,000
Accounts payable		$10,000
Salary payable		$3,000
Share Capital		$26,000
Retained Earnings		$13,000
Dividends	$4,000
Service Revenue		$16,000
Salary Expense	$5,000
Rent Expense	$1,000
Utilities expense	$1,000
Depreciation expense	$1,000
Supplies Expense	$2,000
Total	$72,000	$72,000
Income Statement
Account Titles	Amount
Service Revenue		$16,000
Less: Operating Expenses
Salary Expense	$5,000
Rent Expense	$1,000
Utilities expense	$1,000
Depreciation expense	$1,000
Supplies Expense	$2,000
Total Operating Expenses		$10,000
Operating Income		$6,000
Statement of Retained Earnings
Items	Amounts
Retained Earnings, 1/1/2017	$13,000
Add: Net Income	$6,000
Less: Dividend	($4,000)
Retained Earnings, 31/1/2017	$15,000
Balance Sheet
	Amount
ASSETS
Current Assets:
Cash	$8,000
Accounts receivable	$12,000
Prepaid rent	$2,000
Total Current Assets		$22,000
Furniture	$36,000
Less: Accumulated Depreciation	($4,000)	$32,000
Total Assets		$54,000
LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities
Current Liabilities:
Accounts payable	$10,000
Salary payable	$3,000
Total Current Liabilities		$13,000
Stockholder's Equity
Share Capital	$26,000
Retained Earnings	$15,000
Total Stockholders' Equity		$41,000
Total Liabilities and sstockholder's Equity		$54,000