Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2023, and the related month-end...

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Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2023, and the related month-end adjustment data. (Click the icon to view the month-end adjustment data.) Requirements 1. Prepare the adjusted trial balance of Fabuloso, Inc. at December 31, 2023. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc., at December 31, 2023. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. Fabuloso, Inc. Trial Balance Work Sheet December 31, 2023 Trial Balance More info Adjustments Account Debit Credit Debit Credit Cash Accounts receivable Prepaid rent Supplies Furniture 8,500 1,400 2,100 2,700 63,000 Accumulated depreciation-furniture 3,300 3,900 Accounts payable Salary payable Common stock 15,000 Retained earnings 41,160 Dividends 4,300 Service revenue 21,900 Salary expense 2,800 Rent expense Utilities expense 460 Depreciation expense-furniture Supplies expense Total 85,260 85,260 Adjustment data at December 31, 2023: a. Accrued service revenue at December 31, $3,980. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $2,100 relates to the period December 1, 2023 through February 28, 2024. c. Supplies used during December, $2,400. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $25,000 will be paid on Friday. For the purpose of this calculation, assume December 31 falls on a Wednesday. Print Done Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2023, and the related month-end adjustment data. (Click the icon to view the month-end adjustment data.) Requirements 1. Prepare the adjusted trial balance of Fabuloso, Inc. at December 31, 2023. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc., at December 31, 2023. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. Fabuloso, Inc. Trial Balance Work Sheet December 31, 2023 Trial Balance More info Adjustments Account Debit Credit Debit Credit Cash Accounts receivable Prepaid rent Supplies Furniture 8,500 1,400 2,100 2,700 63,000 Accumulated depreciation-furniture 3,300 3,900 Accounts payable Salary payable Common stock 15,000 Retained earnings 41,160 Dividends 4,300 Service revenue 21,900 Salary expense 2,800 Rent expense Utilities expense 460 Depreciation expense-furniture Supplies expense Total 85,260 85,260 Adjustment data at December 31, 2023: a. Accrued service revenue at December 31, $3,980. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $2,100 relates to the period December 1, 2023 through February 28, 2024. c. Supplies used during December, $2,400. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $25,000 will be paid on Friday. For the purpose of this calculation, assume December 31 falls on a Wednesday. Print Done