Question

21/le/content/86554/viewContent/2841893/View 7/2/2019 Data Table Using the browser's ppint will lead to an ugdesirable print-out. Use the Print item from the "Question Help" men print-out Misers Unadjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title 32,000 Cash 49.000 Accounts Receivable 4,000 Office Supplies 22.000 Equipment 16.000 Accumulated Depreciation-Equipment 18,000 Accounts Payable Salaries Payable 1,000 Unearned Revenue 16.000 Notes Payable (long-term) 25.000 Common Stock 28.000 Retained Earnings 36,000 Dividends 88,000 Service Revenue 2,000 Insurance Expense 31.000 Salaries Expense Supplies Expense 5.000 Interest Expense 11.000 Rent Expense Depreciation Expense-Equipment 192.000 192,000 $ Total

Requirements:

1. prepare a worksheet for Fratner investment Advisors at december 31,2018.

2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in the account format.

3. prepare closing entries.

Answer 1

Worksheet for Fratner investment Advisors at december 31,2018. Adjusting Income Name of Accounts Trial Balance Trial Balance Balance Sheet Adjustment Statement Credit Debit Credit Debit Credit Debit Credit Debit Debit Credit Cash 32.000,00 32,000.00 32,000.00 Accounts Receivables 49,000.00 49,000.00 49,000.00 Office Supplies 4.000.00 b. 2000 2,000.00 2.000.00 Equipment 22.000.00 22.000,00 22.000,00 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable c. 3000 16,000.00 19,000.00 19,000.00 18,000.00 18.000.00 18,000.00 d. 1000 1.000.00 1.000.00 1,000.00 Unearned Revenue a, 150 850.00 850,00 Notes Payable (long Term) 16,000.00 16.000,00 16,000.00 Common Stock 25,000.00 25.000,00 25.000.00 Retained Earnings 28.000.00 28,000.00 28.000.00 Dividends 36.000.00 36,000.00 36,000.00 a&e. 9150 97,150.00 Service Revenue 88.000,00 97,150.00 Insurance Expense 2.000,00 2,000.00 2.000.00 Salaries expenese 31.000.00 d. 1000 32,000.00 32.000.00 Supplies expense b. 2000 2,000.00 2,000.00 Interest Expense 5,000.00 5,000.00 5,000.00 Rent Expense 11,000.00 11.000.00 11,000.00 c. 3000 3,000.00 3.000.00 Depreciation Expense - Equipment 192.000.00 192.000,00 Service Revenue Receivable e. 9000 9,000.00 9,000.00 Net Income 42,150.00 42,150.00 Total 150,000.00 150,000.00 Adjusting Entries Unearned Revenue 150 Service Revenue 150 (Being unearned revenue earned this year) Supplies Expense 2000 Office Supplies 2000 (Being Supplies Expense recorded) Supplies expense Beginning supplies on hand + Purchases Ending supplies on hand Supplies expense 4000+0-2000 Supplies expense 2000 Depreciation Expense Equipment 3000 Accumulated Depreciation Equipment 3000 (Being Depreciation accounted for) Salaries expenese 1000 Salaries Payable 1000 (Being the amount of Salaries unpaid) Service Revenue Receivable 9000 Service Revenue 9000 (Being the amount of accrued revenue)

Worksheet for Fratner investment Advisors at december 31,2018. Adjusting Income Name of Accounts Trial Balance Trial Balance Balance Sheet Adjustment Statement Credit Debit Credit Debit Credit Debit Credit Debit Debit Credit Cash 32.000,00 32,000.00 32,000.00 Accounts Receivables 49,000.00 49,000.00 49,000.00 Office Supplies 4.000.00 b. 2000 2,000.00 2.000.00 Equipment 22.000.00 22.000,00 22.000,00 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable c. 3000 16,000.00 19,000.00 19,000.00 18,000.00 18.000.00 18,000.00 d. 1000 1.000.00 1.000.00 1,000.00 Unearned Revenue a, 150 850.00 850,00 Notes Payable (long Term) 16,000.00 16.000,00 16,000.00 Common Stock 25,000.00 25.000,00 25.000.00 Retained Earnings 28.000.00 28,000.00 28.000.00 Dividends 36.000.00 36,000.00 36,000.00 a&e. 9150 97,150.00 Service Revenue 88.000,00 97,150.00 Insurance Expense 2.000,00 2,000.00 2.000.00 Salaries expenese 31.000.00 d. 1000 32,000.00 32.000.00 Supplies expense b. 2000 2,000.00 2,000.00 Interest Expense 5,000.00 5,000.00 5,000.00 Rent Expense 11,000.00 11.000.00 11,000.00 c. 3000 3,000.00 3.000.00 Depreciation Expense - Equipment 192.000.00 192.000,00 Service Revenue Receivable e. 9000 9,000.00 9,000.00 Net Income 42,150.00 42.150.00 Total 150,000.00 150,000.00 Adjusting Entries Unearned Revenue 150 Service Revenue 150 (Being unearned revenue earned this year) Supplies Expense 2000 Supplies expense Beginning supplies on hand + Purchases Ending supplies on hand Office Supplies 2000 Supplies expense 4000 +0-2000 (Being Supplies Expense recorded) Depreciation Expense Equipment Accumulated Depreciation Equipment (Being Depreciation accounted for) Salaries expenese 1000 Salaries Payable Supplies expense 2000 3000 3000 1000 (Being the amount of Salaries unpaid) Service Revenue Receivable 9000 Service Revenue 9000 (Being the amount of accrued revenue)