Creative Designs Worksheet Month Ended January 31, 20X1 Account Name Adjustments Debit Ro Ref Adjusted Trial Balance Dett Credit Balance Sheet Debit Credit Credit Income Statement Debit Credit Cash Accounts Receivable Trial Balance Credit 73,000 27,200 19.500 24.800 50,400 67 200 33.100 122.000 Supplies Prepaid Advertising Prepaid Rent Equipment Accumulated Depreciation-Equip Accounts Payable Shayla Green Capital Shayla Green, Drawing Fees Income Advertising Expense Depreciation Expense-Equipment Hent Expense Kataries Expanse supplies Expense Utilities Dapente 16.000 148.200 21.400 3.800 Total 303 300 303 300 Make sure each com shows InstructionsComplete the worksheet and answer the questions below. Adjustment information: (a) Supples were purchased on January 1, 20X1. inventory of supplies on January 31, 20X1. is $3,200. Make sure this reconciliation section completed (b) The prepaid advertising contract was signed on January 1, 20x1, and covers a 4-month period. (c) Rent of 54,200 expired during the month. (d) Depreciation is calculated using the straight-line method. The equipment has an useful life of 10 years with no salvage value Type/Write your answer to the questions in the box below the question. 1. Adjusted Trial Balance amounts are extended to either the income Statement section or the Bolonce Sheet section of a worksheet. Select one Adjusted Trial Balance account balance as an example, and describe (1) to which worksheet section it's extended to and (2) whether it's extended to the debitor credit column of that worksheet section. 2. If a business has a net income should the Income Statement column totals be equal? Why or why not? 3. In your own words, what is an accounting reconciliation? 4. If a business has a net income, in which worksheet section and in which column of that section is the net income shown? S. If a business has a net loss, in which worksheet section and in which column of that section is the net income shown