2 reference) 3 Post adjusting entries to Ledger (Do not complete PR) 4 Prepare an Adjusted Trial Balance. 5 Prepare financial statements for the month of November Income Statement Statement of Owner's Equity Balance Sheet Notes/Tips: There were no investments by owner during the reporting period. This company prepares an Adjusted Trial Balance and Financial Statements at the end of each month. All adjustments are for the last 30 days. (Effective date Nov 30) Print the completed journal before you post to the ledger and completed ledger before you prepare the ATB. May help avoid errors. Oak Landscaping Company Unadjusted Trial Balance November 30, 2020 Account Debit Credit 110 Cash 40,860 120 Accounts Receivable 6,550 130 Supplies 2.100 140 Prepaid Insurance 1,200 150 Land 100,000 160 Building 75,000 Directions Journal Ledger Adjusted Trial Balance Financial Statements Credit Debit 40.860 6,550 2,100 1,200 100.000 175.000 10,500 Oak Landscaping Company Unadjusted Trial Balance November 30, 2020 Account 110 Cash 120 Accounts Receivable 130 Supplies 140 Prepaid Insurance 150 Land 160 Building 161 Accumulated Depreciation - Building 170 Landscaping Equipment 171 Accumulated Depreciation - Landscaping Equipment 210 Accounts Payable 220 Unearned Landscaping Revenue 230 Wages Payable 310 J. Doe Capital 320 J. Doe. Drawings 410 Landscaping Revenue 510 Wages Exp 520 Rent Exp 530 Depreciation Exp - Building 540 Depreciation Exp. Landscaping Equipment 550 Utilities Exp 560 Supplies Expense 570 Insurance Expense 580 Misc. Exp 29,200 30,000 168,550 3,500 23.100 4.800 3,000 2.240 1.100 250,850 Total 250,850 Directions Journal Ledger Adjusted Trial Balance Financial Statements Do Not Modify formatting. You have already journalized and posted routine entries through the month of November and created your Unadjusted Trial Balance (See Directions). The following data have been assembled for adjusting entries. a It was determined the Unearned Landscaping Revenue balance should be $18,000, since $12,000 of these services were provided to customers during the month. (Some customer's pay in advance for their services.) b Depreciation for the building for November is $300. c Depreciation for the Landscaping Equipment is $175. d The Prepaid Insurance unadjusted balance is for a 12 month liability insurance policy purchased on November 1st and beginning that day. e After taking inventory on Nov 30, the Supplies on hand was $1,500. # The company has provided (earned) $15,000 of landscaping services in November that it has not yet billed for. g Accrued wages at Nov 30 are $1,000. Oak Landscaping Company Financial Statements Directions Journal Ledger Adjusted Trial Balance Oak Landscaping Company General Journal Page 3 Date Account Titles and Explanation P. R. Debit Credit Directions Journal Ledger Adjusted Trial Balance Financial Statements Oak Landscaping Company GENERAL LEDGER Cash Date Explanation P.R. DEBIT 30-Nov Balance before adjustments CREDIT ACCOUNT # 110 BALANCE 40,860 Accounts Receivable Date Explanation P.R DEBIT 30-Nov Balance before adjustments CREDIT ACCOUNT # 120 BALANCE 6,550 Supplies Date Explanation P.R. 30-Nov Balance before adjustments DEBIT CREDIT ACCOUNT# 130 BALANCE 2,100 Prepaid Insurance Date Explanation P.R. DEBIT 30-Nov Balance before adjustments CREDIT ACCOUNT # 140 BALANCE 1,200 DEBIT CREDIT Land Date Explanation P.R 30-Nov Balance before adjustments Adjusted Trial Balance Financial Statements ACCOUNT # 150 BALANCE 100,000 ger Debit Credit Oak Landscaping Company Adjusted Trial Balance November 30, 2020 Account Cash Accounts Receivable Supplies Prepaid Insurance Land Building Accumulated Depreciation - Building Landscaping Equipment Accumulated Depreciation - Landscaping Equipment Accounts Payable Unearned Landscaping Revenue Wages Payable J. Doe, Capital J. Doe, Drawings Landscaping Revenue Wages Expense Rent Expense Depreciation Expense - Building Depreciation Expense - Landscaping Equipment Cincial Statement D E Building Accumulated Depreciation - Building Landscaping Equipment Accumulated Depreciation - Landscaping Equipment Accounts Payable Unearned Landscaping Revenue Wages Payable J. Doe, Capital J. Doe, Drawings Landscaping Revenue Wages Expense Rent Expense Depreciation Expense - Building Depreciation Expense - Landscaping Equipment Utilities Expense Supplies Expense Insurance Expense Miscellaneous Expense Note: See Chapter 4 (Exhibit 2) for proper formatting of Financial Statements DO NOT MODIFY FORMATTING Oak Landscaping Company Income Statement Oak Landscaping Company Balance Sheet Assets Liabilities Oak Landscaping Company Statement of Owner's Equity Owner's Equity Directions Journal Ledger Adjusted Trial Balance Financial Statements