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Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-end adjustment data. Riverdale Company Trial Balance 30-Jun-16 Balance Debit

Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-end adjustment data.

Riverdale Company

Trial Balance

30-Jun-16

Balance

Debit

Credit

Cash

6,900

Accounts receivable

1,100

Prepaid rent

3,500

Supplies

1,100

Motor Vehicle

77,000

Accumulated depreciation

3,400

Accounts payable

3,300

Salary payable

Riverdale, capital

80,000

Riverdale, drawing

4,400

Service revenue

9,600

Salary expense

1,500

Rent expense

Fuel expense

800

Depreciation expense

Supplies expense

96,300

96,300

Adjustment data at June 30 follow:

  1. Accrued service revenue at June 30, $1,500
  2. $700 of the prepaid rent expired during the month.
  3. Supplies on hand at June 30, $700
  4. Depreciation on motor vehicle for the month, $1,400.
  5. Accrued salary expense at June 30, $300

Requirement:

  1. From the information presented, prepare the adjusting entries for items 1-5 above and then prepare the companys adjusted trial balance as at June 30, 2016
  2. Prepare the income statement for the year ended June 30, 2016
  3. Prepare the owners equity statement for June 30, 2016
  4. Prepare the balance sheet as at June 30,2016

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