11 Instructions: A. Put your name and section number at the top of each worksheet under each tab. (2.5 points) 12 13 14 15 B. Record the adjustments in the adjustments columns on the worksheet; then complete the worksheet. [26 points] Record the adjustments in the formatted journal entries at the bottom of the worksheets (15 points) Record the closing entries in the formatted journal entries below the adjusting entries on the worksheet. [10 points] 16 17 C Prepare an Income Statement on the Financial Statements Tab. Use the proper format, dates, and underlines when appropriate. (10.5 points] 18 19 D. Prepare a statement of Owner's Equity on the Financial Statements Tab. Use the proper format, dates, and underlines when appropriate. No additional investments were made by the owner during the month of December. 17 points) 20 21 E 22 Prepare a Balance Sheet on the Financial Statements Tab. Use the proper format, dates, and underlines when appropriate. (18 points) 23 F. Prepare a Post Closing Trial Balance on the Post-Closing Trial Balance Tab. Use the proper format, dates, and underlines when appropriate. [11 points) 24 25 (d) Joumalize the closing entries using the worksheet as a basis. Debit 1 Credit A. B. B Income Statement Statement of Owner's Equity Balance Sheet Post-Closing Trial Balance DR CR Trial Balance Debit Credit 55,000 1,600 4,500 1,500 10,000 1,000 2,000 25,700 Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Office Equipment Accum. Depr-Office Equip. Accounts Payable Wages Payable J. Smith, Capital J. Smith, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Cleaning Supplies Expense Insurance Expense Depreciation Expense-Office Equip Totals 2,300 85,000 30,000 4,700 4,100 113,700 113,700 Net income or loss Totals Adjusting Entry information for December 31: A. Prepaid Insurance which has expired $400. B. Ending Cleaning Supplies Inventory is $1,300. C Fees eamed but not yet received is $4,200 D. Depreciation on the Office Equipment for this year, 5350 E. Wages accrued but not yet paid $1,900 e) Joumalize the adjusting entries using the worksheet as a basis