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At the end of the first three months of operations on October 31, this was the trial balance of the Answering Service Co: (25 points)

Cash 

$ 5,524


Accounts Receivable 

8,472


Office Supplies 

1,806


Prepaid Rent 

1,600


Prepaid Insurance 

1,440


Office Equipment 

4,600


Communications Equipment 

4,800


Accounts Payable 


$ 5,346

Service Revenue 


1,776

Capital 


11,866

Withdrawals 

4,260


Unearned Revenue 


18,004

Wages Expense 

3,800


Office Cleaning Expense 

690



$36,992

$36,992

a. An inventory of office supplies reveals supplies on hand of $266.

b. The Prepaid Rent account includes the rent for four months.

c. Prepaid Insurance reflects a one-year policy purchased on August 1.

d. Depreciation is estimated at $204 on the office equipment and $212 on the communications equipment for the first three months.

e. The balance of the Unearned Revenue account represents a twelve-month service contract paid in advance on September 1.

f. On October 31, accrued wages totaled $160. 

Required: 

Prepare an adjusted trial balance.

Prepare an adjusted trial balance.

Prepare Income statement

Prepare Statement of Equity

Prepare BALANCE SHEET


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