Class Activity Question $1$

Sakib Al$-$Hossain started his own consultation firm, Al$-$Hossain Consultation, on January $1,2020.$ The trial balance at March $31$ is as follows.

Accounting Period $3$ months or quarter.

Other Data

$$900$ of supplies have been used during the quarter.

Utilities expense incurred but not paid on March $31,2020,$ $$1,500.$

The insurance policy is for $2$ years. $($The insurance premium was pald on January $1,2020)$

$$800$ of the balance in the unearned service revenue account remains unearned at the end of the quarter.

Equipment is being depreciated at $$475$ per month for $24$ months. $($The equipment was purchased on January $1,2020)$

Involces representing $$2,200$ of services performed during the month have not been recorded as of March $31.$

Salaries of $$850$ are accrued and unpaid at March $31.$

The loan interest rate is $12\%.($The loan was taken on March $1.)$

Required:

Prepare the adjusting entries for the period ended Jan $1$ to Mar $31,2020$

Prepare worksheet for the period ended Jan $1$ to Mar $31,2020$