Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Completing the Accounting Oyde 229 A Completing the accounting cycle froma rial balance with an optional worksheet al balance of g p ont de Learning
Completing the Accounting Oyde 229 A Completing the accounting cycle froma rial balance with an optional worksheet al balance of g p ont de Learning Objectives 1, 2, 3, chedusement follow a S come $18.00 WALTON ANVIS Unad usted a ce December 31, 2018 Account Title Debit 5 13.480 2.320 23.000 $100 7.100 Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipe Accounts Payable Salaries Payable Uncanned Revenue Walton, Capital Walton, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Total 5.000 28.500 19 500 562.100 Adjustment data: a. Unearned Revenue still uncarned at December 31, $1,800. b. Prepaid Rent still in force at December 31, $2,100. c. Office Supplies used, $1,500. d. Depreciation, $390. e. Accrued Salaries Expense at December 31, $200. Requirements 1. Open the T-accounts using the balances in the unadjusted trial balance. 2. Complete the worksheet for the year ended December 31, 2018 (optional). 3. Prepare the adjusting entries, and post to the accounts. 4. Prepare an adjusted trial balance. 5. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form. Assume that there were no contributions made by the owner during the year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started