Adjustments and the Worksheet University Book Store Adjusted Trial Balance November 30, 2019 Credit Debit Account Name Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Ruby Darbandi, Capital Ruby Darbandi, Drawing Fees Income Depreciation Expense-Equipment Rent Expense Salaries Expense Supplies Expense Utilities Expense Totals 23,075 3,812 4,600 21,000 27,500 $ 950 9,000 41,837 4,000 48,550 950 3,500 8,500 2,900 500 $100,337 $100.337 Preparing financial statements from the worksheet. The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears across the tops of pages 152-153. INSTRUCTIONS 1. Prepare an income statement 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet (use the report form). Analyze: If the adjustment to Prepaid Advertising had been $3,400 instead of S1,700, what net income would have resulted? Preparing a worksheet and financial statements, journalizing adjusting entries, and posting to ledger accounts. Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31. 2019, the first month of operations, is shown below INSTRUCTIONS 1. Complete the worksheet for the month 2. Prepare an income statement, statement of owner's equity, and balance sheet. No additional P Ob investments were made by the owner during the month. 3. Journalize and post the adjusting entries. Use 3 for the journal page number. Use the following account numbers: Supplies, 121; Prepaid Advertising, 130: Prepaid Rent, 131; Accumulated Depreciation-Equipment, 142; Supplies Expense, 517: Advertising Expense, 519; Rent Expense, 520; Depreciation Expense, 523. End-of-the-month adjustments must account for the following items: urchased on January 1, 2019: inventory of supplies on January 31, 2019 a. Supplies were p is $1.600. epaid advertising contract was signed on January 1, 2019, and covers a four-month period. b. The