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6. Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the yea ended December 31,
6. Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the yea ended December 31, 2016: Retained Trial Income Earnings Balance Balance Adjustments statement statement sheet Account Debit credit Debit credit Debit credit Debit credit Debit Credit Cash 3,800 Prepaid Rent 2,400 Office Equipment 7,000 Accumulated Depreciation 1,400 Note Payable (due 7/1/17) 2,000 Common Stock (200 shares 4,000 Retained Earnings (1/1/16) 3,200 Dividends 200 Consulting Revenues 6,100 Salaries Expense 2,500 Miscellaneous Expenses 800 Totals 16,700 16,700 Additional information: (a) on January 1, 2016, the company had paid 2 years' rent in advance at $100 a month for office space, (b) the office equipment is being depreciated a straight-line basis over a 10-year life, and no residual on value is expected, (c) interest of $150 has accrued on the note payable but has not been paid, and (d) the income tax rate is 30% on current income and will be paid in the first quarter of 2017. Required: 1. Complete the worksheet. Enter all amounts as positive numbers. WHITAKER CONSULTING COMPANY For the Year Ended December 31 2016
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