As the book keeper of Maritime Internet Access Service of Amherst, use the information that follows to prepare:
1. A worksheet for August, the end of the first quarter in the current fiscal year
2. An income statement for August, a statement of owner’s equity for August, and a balance sheet as of August 31, 2012
Adjustment Data
a. Two-thirds of the prepaid insurance remains prepaid at month-end.
b. Computer supplies on hand, $268.
c. Amortization on computer equipment is based on the straight-line method, a four-year life, and residual value of $1,400.
d. Wages earned but unpaid amounted to 64 hours at $15 per hour at month-end.
e. Advertising bill received, not yet paid, $245.