1 YOUR NAME Consulting, Inc. 2 Worksheet 3 For the Month Ended January 31 Adjusting Entries Debit 1 Credit Unadjusted Trial Balance Debit Credit 34,000 62,000 8,000 9,000 114,000 12,000 77,500 5,000 6,000 4,000 1,000 e 3,000 7 Cash 8 Accounts Receivable 9 Prepaid Advertising 10 Supplies 11 Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Unearned Revenue 115 Long-term Notes Payable 16 Common Stock 17 Retained Earnings 18 Dividends 19 Service Revenue 20 Salaries Expense 11 Rent Expense 2 Depreciation Expense 13 Supplies Expense 4 Advertising Expense 25,000 65,500 33,000 Adjusted Trial Balance Debit Credit 34,000 67,000 2,000 5,000 114,000 13,000 77,500 3,000 25,000 65,500 33,000 2,000 30,000 8,000 4,000 1,000 4,000 6,000 2,000 28,000 e 3,000 a 5,000 8,000 4,000 1,000 4,000 6,000 Total 241,000 241,000 19,000 19,000 247,000 247,000 Oleksandra Na Data Review View Autosaven BESU: Home Insert Draw Page Layout Formulas X Calibri (Body) 12 A A BIOA A5 x fx Revenue: Wrap Text Numbe Merge & Center 1 Your Name Consulting, Inc. 2 Income Statement 3 For the month ended January 31 5 Revenue: 6 Service Revenue 30000.00 8 Expenses: 9 Salaries Expense 10 Rent Expense 11 Depreciation Expense 12 Supplies Expense 13 Advertising Expense 14 Total Expenses: 15 Net Income 8000.00 4000.00 1000.00 4000.00 6000.00 23000.00 17 Net Income 7000.00 Opening Balances Journal GL Worksheet Inc Stmt SE Stmt Bal Sheet Po Calibri (Body) 12 A A BI U Bavar x fx 22 Wrap Marget = = = 12 210 1 Your Name Consulting, Inc. 2 Statement of Stockholders' Equity 3 For the month ended January 31 Opening Balances Journal Worksheet Inc Stmt SE stmt BIU E QUA E X fx 1 Your Name Consulting, Inc. 2 Balance Sheet 3 January 31 Home Insert DrawPage Layout Formulas Data Review View LE SE W Paste B18 Calibri (Body) BIU x fx 12A A O A rap To Merge & DE F 1 YOUR NAME Consulting, Inc. 2 Worksheet 3 For the Month Ended January 31 5 Acct # Debit Credit Total 0 0 Journal Opening Balances GL Worksheet Inc Stmt SE Stmt A E E Merce Paste BTU B14 x fx LA . Loo E Cash Flow Worksheet Jan 31 Jan 1 Change 10 Total Assets 17 Total Liab + SE Net Income Dividends GL 1 Worksheet Inc Stmt SE Stmt Journal Opening Balances T - = 2 Wrap Text Merge & Cen a ll Buy) 14 MAA Paste & BI U Eva.A 02 x fx AB 1 Your Name Consulting, Inc. 2 Statement of Cash Flows 3 For the month ended January 31 IEF 5 Cash Flow From Operating Activities 6 Net Cash from Operating Activities 15 Cash Flow From Investing Activities Net Cash from Investing Activites 18 19 Cash Flow from Financing Activities Net Cash From Financing Activities 25 Net Increase (Decrease) in Cash 27 Cash Balance, January 1 29 Cash Balance, January 31 Opening Balances Journal GL Worksheet Inc Stmt SE Stmt Bal S Entry # 1 2 4 Date Jan 2 Jan 4 Jan 6 | Jan 9 Jan 11 Jan 13 Jan 16 Jan 19 Jan 25 Jan 28 Description Paid January rent of $4,000. Performed $28,000 services on account. Paid $8,000 of current month salaries. Purchased supplies for $3,000 on account. (use Supplies asset account) Collected $16,000 from customers on account. Purchased equipment for $12,000 using a long-term note payable. Issued $7,500 of common stock. Paid $2,000 of dividends. Paid $2,500 of accounts payable. Paid $1,000 of long-term note. 6 7 8 9 10 6. Assuming your worksheet is balanced and matches the check figure, use the middle two columns of the worksheet to make the following adjusting entries: a) There were $5,000 of services performed which were not yet invoiced to customers. b) 75% of the prepaid advertising has now been used. c) There are $5,000 of supplies still on hand. d) We need to depreciate $1,000 of Equipment. e) We never performed $3,000 of services that we recorded as revenue. This is different from textbook. You need to remove it from revenue and put it in unearned revenue. Opening Trial Balance January 1 Credit 6 Debit 28,000 50,000 8,000 6,000 102,000 12,000 77,000 Account Number 100 120 130 140 180 181 200 205 250 300 310 350 400 501 502 503 504 505 13 Account Name Cash Accounts Receivable Prepaid Advertising Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Long-term Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Total 14,000 58,000 33,000 194,000 194,000