Question

Trial Balance
2019 December 31
	Debits		Credits
Cash	85,100		0
Accounts Receivable	81,000		0
Supplies on Hand	4,600		0
Prepaid Rent	12,240		0
Prepaid Advertising	2,880		0
Prepaid Insurance	4,400		0
Office Equipment	5,400		0
Accumulated Depreciation—Office Equipment	0		2,760
Office Furniture	29,200		0
Accumulated Depreciation—Office Furniture	0		8,280
Accounts Payable	0		25,200
Notes Payable (due 2020)	0		4,000
Capital Stock	0		100,000
Retained Earnings, 2019 January 1	0		22,400
Dividends	45,520		0
Service Revenue	0		250,000
Salaries Expense	98,800		0
Utilities Expense	20,000		0
Miscellaneous Expense	23,500		0
	412,640		412640
Financial Data
Supplies on hand at 2019 December 31, are 1,000.
Rent expense for 2019 is 10,000.
Advertising expense for 2019 is 2,304.
Insurance expense for 2019 is 2,400.
Depreciation expense is office equipment, 912, and office furniture, 3,000.
Accrued interest on notes payable is 150.
Accrued salaries are 4,200
Questions
1) Prepare a 12-column work sheet for the year ended 2010 December 31. Do not include account numbers or explanations of adjustments.

Answer 1

Worksheet
Account Titles	Trial Balance		Adjustments		Adjusted Trial Balance		Income Statement		Balance Sheet
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	85,100				85,100				85,100
Accounts Receivable	81,000				81,000				81,000
Supplies	4,600			3,600	1,000				1,000
Prepaid Rent	12,240			10,000	2,240				2,240
Prepaid Advertising	2,880			2,304	576				576
Prepaid Insurance	4,400			2,400	2,000				2,000
Office Equipment	5,400				5,400				5,400
Accumulated Depreciation: Office Equipment		2,760		912		3,672				3,672
Office Furniture	29,200				29,200				29,200
Accumulated Depreciation: Office Furniture		8,280		3,000		11,280				11,280
Accounts Payable		25,200				25,200				25,200
Salaries Payable				4,200		4,200				4,200
Interest Payable				150		150				150
Notes Payable		4,000				4,000				4,000
Capital Stock		100,000				100,000				100,000
Retained Earnings		22,400				22,400				58,014
Dividends	45,520				45,520
Service Revenue		250,000				250,000		250,000
Salaries Expense	98,800		4,200		103,000		103,000
Utilities Expense	20,000				20,000		20,000
Supplies Expense			3,600		3,600		3,600
Insurance Expense			2,400		2,400		2,400
Rent Expense			10,000		10,000		10,000
Advertising Expense			2,304		2,304		2,304
Depreciation Expense			3,912		3,912		3,912
Interest Expense			150		150		150
Miscellaneous Expense	23,500				23,500		23,500
Totals	412,640	412,640			420,902	420,902	168,866	250,000	206,516	206,516