College of Business Department of Finance Introduction to Financial Accounting (ACCT 201) Assignment Due date: 13/4/2020 Below is the unadjusted trial balance for Gray Electronic Repair Services; Gray Electronic Repair Services Unadjusted Trial Balance December 31, 2019 Account Title Deal Credit Cash 57.450.00 Accounts Receivable 40000 Service Supplies 1.500.00 Furniture Fixtures 3.000.00 Service Equipment 16,000.00 Accounts Payable 5 000.00 Loans Payable Mr. Gay, Capital 13.200.00 Mr G Dewing 7,000.00 Service Rev Response 150000 Salaries Expo 1 500.00 Taxes and License 120 00 Tetails $ 43.750.00 S 43.750.00 Assumes the following adjustments data have been done after December, 2019 1. Supplies on hand $ 600 2. They provide a service for $2300 on account. 3. The company paid for its utility on account $1800. 4. The company had accumulated depreciation $720. s. The company buys new furniture S6000. 6. They provide services to a client and receive $1500 cash immediately 7. The company prepaid $2400 for insurance for 12 months starting from 1/1/2020. 8. The company buys new supplies for $300. 9. The company incurred rent expense for $300. 10. The company receives $800 from the client You are required to prepare the following in worksheet format. 1. Adjusted Trail balance (5 marks). 1. Income Statement (5 marks). . Balance sheet (Financial Position) Statement