The account balances of Wyreski Landscape Service as of Octo¬

ber 31, the end of the current fiscal year, are as follows:

Data for the adjustments;

a. Accrued wages, $174.

b. Inventory of supplies, $456.

c. Depreciation of equipment, $180.

d. Depreciation of truck, $444.
Instructions 1. Complete the work sheet.
2. Prepare an income statement.
3. Prepare a statement of owner’s equity, assuming that no additional invest¬
ments were made during the year.
4. Prepare a balance sheet.
5. Journalize the adjusting entries.
6. Journalize the closing entries with the four steps in the proper sequence.
Instructions for General Ledger Software 1. Print a trial balance.
2. Journalize the adjusting entries in the general journal and post to the general ledger. (No work sheet is required on the computer.)
3. Print an income statement, a statement of owner’s equity, and a balance sheet.
4. Journalize the closing entries in the general journal.
5. Post the closing entries.
6. Print a post-closing trial balance.
Check Figure Net income, $21,091.50 Problem Set B

Transcribed Image Text:

Cash $ 1,947.00 Accounts Receivable 3,165.00 Supplies 639.00 Equipment 5,796.00 Accumulated Depreciation, Equipment 2,898.00