Consider the following trial balance and adjustment data for Diana's Dance Studio:

(Click the icon to view the unadjusted trial balance.)

(Click the icon to view the adjustment data.)

Your task is to do the following:

1. Prepare a worksheet. 2. Journalize adjusting and closing entries.

Diana's Dance Studio

Trial Balance

November 30, 201X

Account Titles

Dr. Cr.

Cash 45,000

Accounts Receivable 9,000

Prepaid Insurance 1,000

Dance Supplies 1,600

Dance Equipment 15,000

Accumulated Depreciation, Dance Equipment 9,900

Accounts Payable 29,000

D. Dalia, Capital 14,300

D. Dalia, Withdrawals 800

Dance Fees Earned 21,500

Salaries Expense 1,800

Telephone Expense 200

Advertising Expense 300

Totals 74,700 74,700

Adjustment Data

a.	Insurance expired, $900.
b.	Dance supplies on hand, $800.
c.	Depreciation on dance equipment, $1,000.
d.	Salaries earned by employees but not to be paid until December, $200.

1. Prepare a worksheet.

Complete the worsheet one section at a time, beginning with the Adjustments columns. When completing the Adjustments column, enter a posting reference along with each debit or credit amount that corresponds to the letter of the adjusting entry (a., b., c., etc.). For the Income Statement and Balance Sheet columns, remember to include the net income or loss after the totals and then total the columns again. (If a box is not used in the worksheet, leave the box empty; do not select a label or enter a zero.)

Diana's Dance Studio

Worksheet

Month Ended November 30, 201X

Trial Balance Adjustments

Account Titles Debit Credit Debit Credit

Cash 45,000

Accounts Receivable 9,000

Prepaid Insurance 1,000

Dance Supplies 1,600

Dance Equipment 15,000

Accumulated Depreciation, Dance Equipment 9,900

Accounts payable 29,000

D. Dalia, Capital 14,300

D. Dalia, Withdrawals 800

Dance Fees Earned 21,500

Salaries Expense 1,800

Telephone Expense 200

Advertising Expense 300

Totals 74,700 74,700

Insurance Expense

Dance Supplies Expense

Depreciation Expense, Dance Equipment

Salaries Payable

Totals