CP442 Requirements Golden Lake Comp 31, and an adjusted (click the icon 1. Complete the worksheet at December 31, 2018. Use the trial balances and 2. Prepare an income statement for the two months ended December 31, 2018 3. Prepare a statement of retained earnings for the two months ended December (Click the icon adjusting entries provided. Read the requirem Use the worksheet prepared in Requirement 1 or the adjusted trial balance provided 31, 2018 Assume the note payable is long-term. Income Summary and Retained earnings have been opened for you. Determine Wages Expense Utilities Expense Telephone Expense4. Prepare a classified balance sheet (report form) at December 31, 2018 Supplies Expense5 5. Journalize and post the closing entries at December 31, 2018. T-accounts for o S the endinn halance for each account Denote each closinn amount as Clo s and Enter any number CP442 Requirements Golden Lake Comp 31, and an adjusted (Click the icon 1. Complete the worksheet at December 31, 2018. Use the trial balances and (Click the icon Read the requirem Wages Expense Utilities Expense Telephone Expense4. Prepare a classified balance sheet (report form) at December 31, 2018 adjusting entries provided. 2. Prepare an income statement for the two months ended December 31, 2018. Use the worksheet prepared in Requirement 1 or the adjusted trial balance provided Prepare a statement of retained earnings for the two months ended December 3. 31, 2018 Assume the note payable is long-term Income Summary and Retained earnings have been opened for you. Determine 5. Journalize and post the closing entries at December 31, 2018. T-accounts for o S the endina halance for earh account Dennte each closinn amount as. Clos and Enter any number Reference Unadjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash Accounts Receivable Office Supplies Prepaid Rent s 13,090 5,600 1,300 5,400 LLI.7n.nnn. Print Done red una Building Canoes 84,000 13,920 Accounts Payable Utilities Payable Telephone Payable Unearned Revenue Notes Payable Common Stock Dividends 5,500 310 290 450 6,720 173,000 1 400 Common Stock Dividends Canoe Rental Revenue Rent Expense Wages Expense Utilities Expense Telephone Expense Total 173.000 1,400 13,800 1,800 2,600 500 460 S 200,070 S 200,070 Date Accounts and Explanation Debit Credit Dec 31 Supplies Expense Adj (a) 600 Office Supplies To record office supplies used Dec 31 Rent Expense 1,800 1,800 Prepaid Rent To record rent expense. Adj. (b) 31 Depreciation Expense-Building 1,300 Dec Print Done Reference i. (c) 1,300 Accumulated Depreciation-Building To record depreciation on building ec. 31 Unearned Revenue 250 Adj (d) Canoe Rental Revenue To record revenue earned that was collected in advance. 1,500 Dec 31 Wages Expense Adj. (e) 1,500 Wages Payable To accrue wages expense Print Done 31 Unearned Revenue 250 Canoe Rental Revenue To record revenue earned that was collected in advance. 31 Wages Expense 1,500 Wages Payable To accrue wages expense 31 Accounts Receivable 1,100 Canoe Rental Revenue To accrue canne rental reven Accumulated Depreciation-Canoes To record depreciation on canoes. 140 1 Depreciation Expense -Canoes 140 Accumulated Depreciation- Canoes To record depreciation on canoes 90 1 Interest Expense 90 Interest Payable To accrue interest expense. Adjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash Accounts Receivable Office Supplies Prepaid Rent 13,090 6,700 700 3,600 Land 70,000 Building 84,000 cumulated Depreciation-Building Canoes Accumulated Depreciation- Canoes Accounts Payable Wages Payable Utilities Payable 1,300 13,920 440 5,500 1,500 310 Telephone Payable Unearned Revenue Interest Payable Notes Payable Common Stock Dividends Canoe Rental Revenue Rent Expense 290 200 90 6,720 173,000 1,400 15,150 3,600 4,100 500 460 600 1,300 440 90 ages Expense Utilities Expense Telephone Expense Supplies Expense Depreciation Expense-Building Depreciation Expense- Canoes Interest Expense Total $204,500 S 204,500