Johnson Graphics Company was organized on January 1, 2017, by Cameron Johnson. At the end of the first 6 months of operations, the trial balance contained the accounts shown.

Analysis reveals the following additional data.
1. The $3,700 balance in Supplies Expense represents supplies purchased in January. At
June 30, $1,500 of supplies are on hand.
2. The note payable was issued on February 1. It is a 9%, 6-month note.
3. The balance in Insurance Expense is the premium on a one-year policy, dated March 1,
2017.
4. Service revenues are credited to revenue when received. At June 30, services revenue of $1,300 are unearned.
5. Revenue for services performed but unrecorded at June 30 totals $2,000.
6. Depreciation is $2,250 per year.

Instructions
(a) Journalize the adjusting entries at June 30. (Assume adjustments are recorded every 6 months.)
(b) Prepare an adjusted trial balance.
(c) Prepare an income statement and owner€™s equity statement for the 6 months ended June 30 and a balance sheet at June30.

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Debit Credit $ 8,600 14,000 45,000 2,700 30,000 3,700 1,900 1,500 1,700 $109,100 Notes Payable Accounts Payable Owner's Capital Sales Revenue Service Revenue $ 20,000 9,000 22,000 52,100 6,000 Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense $109,100