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Idk what is the solution for balance sheet. I solved some on my own, but blank is unknown and could you correct if it is

Idk what is the solution for balance sheet. I solved some on my own, but blank is unknown and could you correct if it is right? answer in typed word. image text in transcribed

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7.for adj entry was prepaid rent Dr. and rent exp in Cr.

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Problem 3-06 The following are the trial balance and the other information related to James Consulting Engineer. Credit $760 JAMES CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $29,500 Accounts Receivable 56,100 Allowance for Doubtful Accounts Supplies 2,500 Prepaid Insurance 1,900 Equipment 29,600 Accumulated Depreciation Equipment Notes Payable Common Stock Retained Earnings Service Revenue Rent Expense 9,880 Salaries and Wages Expense 34,590 Utilities Expenses 1,300 Office Expense 740 $166,110 6,076 7,200 10,000 26,442 115,632 $166,110 1. Fees received in advance from clients $5,890, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $4,821. 3. Bad debt expense for the year is $1,398. 4. Insurance expired during the year $478. . Dau ucuL CAPCHSC TUI LIIC year is puzu. 4. Insurance expired during the year $478. 5. Equipment is being depreciated at 10% per year. 6. James gave the bank a 90-day, 10% note for $7,200 on December 1, 2020. 7. Rent of the building is $760 per month. The rent for 2020 has been paid, as has that for January 2021, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2020, $2,522. From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit 1. Service Revenue 5890 Unearned Service Reve 5890 2. Accounts Receivable 4821 Service Revenue 4821 3. Bad Debt Expense 1398 Allowance for Doubtful 1398 Insurance Expense 478 Prepaid Insurance 478 Depreciation Expense 2960 Accumulated Depreciati 2960 6. Interest Expense 60 8. Salaries and Wages Expen 2522 Salaries and Wages Pay 2522 Prepare an income statement for 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) JAMES CONSULTING ENGINEER Income Statement December 31, 2020 Revenues Service Revenue 114563 Expenses Rent Expense 9120 Salaries and Wages Exp 37112 Utilities Expenses 1300 Office Expense bense 740 Interest Expense 60 Depreciation Expense 2960 Insurance Expense 478 Balance Sheet December 31, 2020 Assets Current Assets Cash 29500 Accounts Receivable 60921 Less . Accumulated Depreciation- (1398) Supplies 2500 Prepaid Insurance 1422 Equipment 29600 Property, plant and Equipment Common Stock Less : Accumulated Depreciation- Total Property, plant and Equipment Liabilities and Owner's Equity Current Liabilities Accounts Payable Total Property, plant and Equipment Liabilities and Owner's Equity Current Liabilities Accounts Payable Interest Payable Notes Payable Salaries and Wages Payabl Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Owner's Equity

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