Given the following trial balance and adjustment data for The Debbie Rose Art Studio of Richmond, your task is to prepare a worksheet for the month of November, the first month of operations in a new fiscal year.

Adjustment Data

a. Painting supplies on hand, $595.

b. Prepaid rent represents the first and last months? rent on a new office lease signed November 1, 2018.

c. Depreciation on studio equipment is based on straight-line, five-year life and a residual value of $480.

d. Wages earned but unpaid amounted to 24.5 hours at $10 per hour.

Transcribed Image Text:

THE DEBBIE ROSE ART STUDIO TRIAL BALANCE NOVEMBER 30, 2018 Dr. Cr. 38 1300 282000 Cash Accounts Receivable Prepaid Rent Painting Supplies Studio Equipment Accumulated Depreciation, Studio Equipment Accounts Payable Debbie Rose Allen, Capital 85000 |92100 598500 199500 178800 582800 781600 Painting Revenue Advertising Expense Utilities Expense Wages Expense 51000 27800 225000 17 427 00 17 42700 Totals