The December 31, 2023, unadjusted trial balance for Tucker Photographers after the first month of operations is shown below:

Required
1. Enter the unadjusted trial balance onto a work sheet.
2. Using the following additional information, enter the adjustments into the work sheet.
1. It was determined that $2,000 of the balance in the Prepaid Equipment Rental account had been used during December.
2. Depreciation on the automobile for the month of December was $610.
3. Accrued utilities expense of $940 was unrecorded at December 31.
4. $460 of the Unearned Revenue account had been earned by December 31.
3. Complete the work sheet.
4. Calculate the balance in the capital account as it would appear on the December 31, 2023, balance sheet.

Analysis Component:
What effect does a profit have on the balance sheet?

Transcribed Image Text:

1 2 34 Home P18 Insert EI Tucker Photographers Trial Balance.xlsx Page Layout Formulas Data Review View fx A 5 6 7 Cash 8 Accounts receivable 9 Prepaid equipment rental 10 Automobile Tucker Photographers Unadjusted Trial Balance December 31, 2023 Account 11 Accumulated depreciation, automobile 12 Accounts payable 13 Unearned revenue 14 Jim Tucker, capital 15 Jim Tucker, withdrawals 16 Service revenue 17 Depreciation expense, automobile 18 Equipment rental expense 19 Totals B Unadjusted Trial Balance Dr. $ 9,100 13,000 3,860 49,000 2,600 -0- 4,200 $ 81,760 C Cr. -0- 1,920 5,740 65,700 8,400 $ 81,760