From the partial worksheet for Josh's Supplies in Figure 12.15, do the following:

1. Complete the worksheet.
2. Prepare an income statement, a statement of owner's equity, and a classified balance sheet. (The amount of the mortgage due the first year is $890.)
3. Journalize the adjusting and closing entries.

Transcribed Image Text:

JOSH'S SUPPLIES WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Trial Balance Account Titles Cr. Cr. 2 50 Accounts Receivable Merch. Inventory, 1/01/1x Prepaid Insurance (B)10 6 00 00(A)11 2 00 00 (E)4 0 3 50 104000 50500 2118|0|00| 12 6000 10500 00 (D)3 700o Accum. Dep., Equipment Accounts Payable Unearned Training Fees Mortgage Payable P. Josh, Capital P. Josh, Withdrawals Income Summary (C) |3|510100 43 1 0 00 (A)11 2 00 00(B)10600 00 96 2 50 0o Sales Returns and Allowances Sales Discount 32 4 000 2 59 000 63 800o 136000o 31 70 00 Purchases Returns and Allow 2 Purchases Discounts 2 |기010100 10 9 0 00o 10 Advertising Expense 10000 13 6000o 133 05 000 133 05000 se Salaries Expense (C)3 50 00 Training Fees Earned Dep. Exp., Equipment (D)3 700o (E)4000 23 0 60 0o 23 0 60 0o