Journalizing adjusting and closing entries [15-20 min]Use your answer from E4-13.Requireme...

Journalizing adjusting and closing entries [15-20 min]

Use your answer from E4-13.

Requirement

1. Journalize Telegraphic Link’s adjusting and closing entries at November 30, 2012.

Preparing a worksheet and using it to calculate net income [20-30 min]

The trial balance of Telegraphic Link, Inc., at November 30, follows:

Additional information at November 30, 2012:

a. Accrued service revenue, $600.

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b. Depreciation, $300.

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c. Accrued salary expense, $800.

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d. Prepaid rent expired, $500.

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e. Supplies used, $100.

Requirements

1. Complete Telegraphic Link’s worksheet for the month ended November 30, 2012.

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2. How much was net income for November?