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1) Bryan Consultants had the following balances before preparing adjusting entries in the books on December 31, 2017. (10 points) $3,000 10,600 Cash Accounts Receivable

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1) Bryan Consultants had the following balances before preparing adjusting entries in the books on December 31, 2017. (10 points) $3,000 10,600 Cash Accounts Receivable Office Supplies Equipment $6,000 2,000 1,800 15,000 Dividends Service Revenue Salaries Expense Rent Expense 4,000 800 9,000 1,500 Accumulated Depreciation- Equipment Common Stock Depreciation Expense- Equipment Supplies Expense 15,000 500 Prepare the adjusted trial balance after considering these adjustments: a. Office Supplies used, $800. Assume the office supplies were initially recorded as an asset. b. Accrued salaries on December 31, $600. c. Revenue earned but not recorded, $200. 2) The following is the adjusted trial balance as of December 31, 2017 of Current Times Watch Inc.: Credit Debit $ 18,000 30,000 9,000 3,200 165,000 $ 12,000 88,000 8,500 45,000 Accounts Cash Accounts Receivable Prepaid Insurance Office Supplies Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Land Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable Common Stock Dividends Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense Total 12,000 2,000 25,000 100,000 21,290 25,840 325,000 63,000 6,250 15,000 14,500 23,000 $505.790 $505,790 Provide the closing entry for the Income Summary account. (10 points) 3) Use the Adjusted Trial Balance for Anderson Service Company to prepare the classified balance sheet at September 30, 2016. Use the report form. You must compute the ending balance of Retained Earnings. (20 points) Anderson Service Company Adjusted Trial Balance September 30, 2016 Balance Account Title Debit Credit Accounts Payable $9,000 Accounts Receivable $2,800 Accumulated Depreciation, Equipment 1,500 Cash 14,500 10,000 600 1,500 110,000 20,000 1,500 14,800 Common Stock Depreciation Expense - Equipment Dividends Equipment Notes Payable (long-term) Office Supplies Prepaid Rent Rent Expense Retained Earnings, August 31, 2016 Salaries Expense Service Revenue Supplies Expense Unearned Revenue Utilities Expense Total 1.200 8,100 9,000 27,500 500 1,000 poo $77,100 $77,100

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