Accelerated Delivery Services, Inc.

Unadjusted Trial balance

12/31/20

ACCT			DR	CR
Cash			37,300
Accounts Receivable			20,100
Allowance for Uncollectible Accts				1,000
Supplies			5,700
Prepaid Rent			30,000
Inventory			14,000
Delivery Vehicles			267,000
Accumulated Depreciation				26,700
Accounts Payable				32,400
Deferred Revenue				12,000
Wages Payable				-
Accrued Interest Payable				-
Utilities Payable				-
Note Payable - Bank Western Due 4/23				120,000
Common Stock				30,000
Retained Earnings				44,000
Dividends			36,000
Service Revenue				454,900
Wages Expense			214,700
Supplies Expense			11,200
Interest Expense			-
Fuel Expense			42,000
Rent Expense			12,000
Bad Debt Expense			-
Depreciation Expense			-
Utilities Expense			31,000
			721,000	721,000

The Accounts Receivable Manager believes 10% of the outstanding receivables will be uncollectible
The interest on the Bank Western loan needs accrued - 5%, loan outstanding since 5/1/20
10 days of emplyee wages @ $1,750 per day need accrued
According to the billing manager, the deferred revenue balance should be $2,600 at 12/31/20
Depreciation on Delivery Vehicles needs recorded 10 yr life no salvage value put in place 1/1/19
A physical count of supplies shows a year-end balance of $1,300
The company has an unpaid utility bill for December 2020 of $2,650
The company prepaid for 12 months of rent on 7/1/20 for $30,000, prepaid rent needs adjusted as of 12/31/20

REQUIREMENT 1: Record the necessary adjusting journal entries based on the above year-end information and unadjusted trial balance.

REQUIREMENT 2: Prepare an Income Statement for 2020

REQUIREMENT 3: Prepare a Statement of Stockholders' Equity for 2020

REQUIREMENT 4: Prepare a Classified Balance Sheet as of 12/31/2020