G Tom just started a cleaning business on August 2015 and started the operation in September 2015. The following trial balance was prepared at the end of September 2015. Wayzata Cleaning, Inc. Unadjusted Trial Balance 30-Sep-15 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Cleaning Equipment Truck Accounts Payable Unearned Service Revenue Common Stock nad Can Debit Credit $ 54,750.00 $ 1,500.00 $ 7,000.00 $ 9,000.00 $ 1,200.00 $ 12,000.00 $ 18,000.00 $ 16,600.00 S 8,000.00 $ 78,000.00 Common Stock Retained Earnings Dividends Service Revenue Utility Expense Advertising Expense Miscellaneous Expense Salary Expense Total $ 78,000.00 $ $ 1,000.00 $ 11,000.00 $ 600.00 $ 500.00 $ 50.00 $ 8,000.00 $ 113,600.00 $ 113,600.00 Required: Using the provided worksheet, prepare the company's Financial Statements using the following steps: Prepare the un-adjustmented Column 1 Prepare the adjustments Column 2 Prepare the adjusted trial balance Column 3 Prepare the Income Statement columns 4 Prepare the Statement of Retained Earnings Column 5 Prepare the Balance Sheet Column G H Jom knew that accounting was based on accruals and some adjustments were needed at the end of September The following information is provided to prepare the adjusting entries at the end of September 2015. 30-Sep 1 Recognize the rent expense for the month of September 2 Cleaning equipment is depreciated for 5 years. The salvage value is zero. The company uses straight line depreciation method. 3 The truck is depreciated for 5 years. The salvage value is $3,000. The company uses straight line depreciation. 4 Recognize the insurance expense for the month of September. 5 Recognize the revenue from 1 month service that has been provided to a client from September 2 transaction 6 At the end of September, the company has $6,500 supplies available. 7 The company pays $2,000 salary every Friday. September 30 is Monday. 8 The company has provided a $5,000 service to a client that has not been billed. 31 Account G Unadjusted TB Dr Cr Adjustments De Adjusted TB 6 7 Dar Income Statement DY Statement De C 9 10 11 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Cleaning Equipment Truck Accounts Payable Uneared Service Revenue Common Stock Dividends Service Revenue 12 13 14 15 16 17 18 19 Utility Expense Account Led TB Cr Income Statement Dr Cr Statement of R/E Dr Cr Balance Sheet Dr CH 3 1 5 6 7 8 9 10 11 12 13 14 15 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Cleaning Equipment Truck Accounts Payable Uneamed Service Revenue Common Stock Dividends Service Revende 17 18 19 Utility Expense G Account Unadjusted TH Dr Cr Adjustments De O Adjusted To Dr CH Income Statement De Statement of RJE De Truck Accounts Payable Uneared Service Revenue Common Stock Olidends Service Revenue Utility Expense Advertising Expense Miscellaneous pense Salary Expense Account Date 30-Sep ## Rent Expenses Prepaid Rent S 1,500.00 Calculations 9000/6months= 1500 54 S 1,500.00 20 Depreciation Expense-Cleaning Equipment Accumulated Depreciation-Cleaning Equipment $ 200.00 $ 200.00 ## Depreciation Expenses. Truck Accumulated Depreciation-Truck $ 250.00 S 250.00 ## Insurance Expenses Prepaid Insurance 5 100.00 1200/12months 100 S 100.00 # Unearned Service Revenue Service Revenue s 1,000.00 6000/6months 1000 54 5 1,000.00 ## Supplies Expense Supplies S 500.00 7000-6500-500 $ 500.00 Salary Expense Salary Payable S 400.00 2000/5days 400 (only Mon due) S 400.00 ## Accounts Receivable Sence Reven $ 5,000.00 6, D B 30-Sep Rent Expenses Prepaid Rent F E 1,500.00 S G 9000/6months=1500 vo 54 1,500.00 ## Depreciation Expense-Cleaning Equipment Accumulated Depreciation-Cleaning Equipment S 200.00 $ 200.00 # Depreciation Expenses- Truck Accumulated Depreciation-Truck us 250.00 $ 250.00 ## Insurance Expenses Prepaid Insurance $ 100.00 1200/12months-100 S 100.00 ## Unearned Service Revenue Service Revenue S 1,000.00 6000/6months 1000 54, S 1,000.00 ## Supplies Expense Supplies S 500.00 7000-6500- 500 7 S 500.00 ## Salary Expense Salary Payable S 400.00 2000/5days 400 (only Mon, due) S 400.00 ## Accounts Receivable Service Revenue 6. S 5,000.00 $ 5,000.00
