Accounting $50$

Homework $-$ Monte's Repairs

A completed worksheet for Monte's Repairs is shown on the next page. There are no additional investments made by the owner during the month. The trial balance amounts $($before adjustments$)$ have been entered in the

Instructions

Prepare an Income Statement.

Prepare a Statement of Owner's Equity.

Prepare a Balance Sheet.

Journalize and post the adjusting entries.

Journalize and post the closing entries

Prepare a Post$-$Closing Trial Balance.

$\backslash$table$[[$Monte$\text{'}$s Repairs$],[$Work Sheet$],[$For Month Ended January $31,2020],[$Account Title,Trial Balance,Adjustments,Adjusted Trial Balance,Income Statement,Balance Sheet$],[$Debit$,$Credit,Debit,redit,Debit,Credit,,Credit,Debit,Credit$],[,,,,\backslash$table$[[3080]],,,,3080,],[$is Receivable,$1200,,,,1200,,,,1200,],[8,800,,,200,600,,,,600,],[1$ Insurance,$900,,,100,800,,,,800,],[$ry Equipment,$\backslash$table$[[3000]],,,,\backslash$table$[[3000]],,,,3000,],[$a$.$ Delivery Equipment,,,,$30,,30,,,,30],[$ats Payable,,$1100,,,,1100,,,,1100],[$Payable$,,,,150,,150,,,,150],[$Eli$,$ Capital,,$7000,,,,7000,,,,7000],[$Eli$,$ Drawing,$1000,,,,1000,,,,1000,],[$Fees$,,4230,,,,4230,,4230,,],[$Expense$,1650,,150,,1800,,1800,,,],[$ising Expense,$170,,,,170,,170,,,],[$xpense$,420,,,,420,,420,,,],[$Expense$,,,200,,200,,200,,,],[$one Expense,$\backslash$table$[[49,]],,,,,,49,,,],[$ke Expense,,,$100,,100,,100,,,],[$dOil Expense,$\backslash$table$[[33]],,,,33,,33,,,],[,,,30,,30,,30,,,],[$laneous Expense,$28,,,,28,,28,,,],[,12330,480,480,12510,12510,2830,4230,9680,8280],[$come$,,,,,,,1400,,,1400],[,,,,,,4230,4230,9680,9680],[,,,,,,,,,],[,,,,,,,,,]]+-$

Account Wages Expense

nccount Advertising Expense

Account Supplies Expens

Account Telephone Expense