Arrow Hospitality prepares adjustments monthly and showed the following at September 30, 2023:

ARROW HOSPITALITY

Trial Balances

September 30, 2023

Unadjusted Adjusted

Trial Balance Adjustments Trial Balance

Account Dr. Cr. Dr. Cr. Dr. Cr.

Cash $ 5,900

Accounts receivable 11,100

Repair supplies 2,150

Prepaid rent 13,900

Office furniture 25,420

Accounts payable $ 7,900

Notes payable 21,200

Eli Arrow, capital 67,628

Eli Arrow, withdrawals 4,900

Hospitality revenues 127,000

Salaries expense 143,500

Wages expense 16,858

Totals $ 223,728 $ 223,728

Additional information available for the month ended September 30, 2023:

Interest of $159 had accrued on the notes payable for the month of September.

The office furniture was acquired on September 1, 2023, and has an estimated four-year life. The furniture will be sold for about $1,900 at the end of its four-year life.

A count of the Repair Supplies revealed a balance on hand of $690.

A review of the Prepaid Rent account showed that $12,000 had been used during September.

Accrued wages of $2,750 had not been recorded at month-end.

The September Internet bill for $120 had been received and must be paid by October 14.

Accrued revenues of $6,100 were not recorded at September 30.

Required:

1. Complete the adjusted trial balance by including the adjusting entries.

2-a. Prepare an income statement based on the adjusted trial balance completed in Part 1.

2-b. Prepare a statement of changes in equity based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3,500.

2-c. Prepare a balance sheet based on the adjusted trial balance completed in Part 1. Assume that the owner, Eli Arrow, made an investment during September of $3,600.