1a). Complete the Worksheet.

1b). Prepare the Classified Balance Sheet.

1c). Journalize the adjusting and closing entries.

Additional Information

1. The supplies inventory at December 31, 20-1 is $225

2. The prepaid insurance schedule shows a value of $335 for prepaid insurance.

3. Late-arriving purchase invoices pertaining to the 20-1 fiscal period were for:

Truck Expense $125- Telephone expense($95) =$220

* For simplicity we are going to ignore any HST on the above invoices.

Checking Figures

Adjusting Entries DR/CR balance: 1,160

Balancing Figure (NI): (33,860)