Question
GoodJob Inc. Unadjusted Trial Balance December 31,2020 Account Debit Credit Cash 304,150 Accounts Receivable 99,000 Office supplies 880 Prepaid rent. 3,960 Unexpired insurance 1,650 Office
GoodJob Inc.
Unadjusted Trial Balance
December 31,2020
Account Debit Credit
Cash 304,150
Accounts Receivable 99,000
Office supplies 880
Prepaid rent. 3,960
Unexpired insurance 1,650
Office equipment 79,200
Accumulated depreciation: office equipment 26,400
Accounts payable 4,400
Notes payable (due 3/1/12) 66,000
Interest payable 660
Income taxes payable 9,900
Dividends payable 3,500
Unearned consulting fees 24,200
Capital stock 220,000
Retained earnings 44,000
Dividends 3,500
Consulting fees earned 550,000
Rent expense 16,170
Insurance expense 2,420
Office supplies expense 4,950
Depreciation expense: office equipment 12,100
Salaries expense 363,000
Utilities expense 5,280
Interest expense 3,300
Income taxes expense 49,500
Totals 949,060 949,8060
Instructions:
- Prepare the necessary adjusting journal entries on December 31, 2020. Also prepare an adjusted trial balance dated December 31, 2020 (20 points).
- From the adjusted trial balance prepared in part a, prepare an income statement and statement of retained earnings for the year ended December 31, 2020. Also prepare the companys balance sheet dated December 31, 2020 (20 points).
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