In the adjacent worksheet is the trial balance as of December 31, 2009. Additional information follows: a b C The unearned revenue is the result of advanced ticket sales for 2 plays. On December 1, 2009 one of the plays was presented which represented 60% of the unearned revenue. The remaining play will not run until 2010. The unearned revenue account has not been adjusted yet. You count the supplies and determine that there are $400 of supplies on hand at December 31. On June 1, Lasell paid its landlord $1,200 for 12 months rent beginning June 1. No adjustment was made to prepaid rent in 2009. You have determined that a student who owed Lasell Playhouse $100 has left school and you determine that the $100 will not be collected. Lasell uses the direct write-off method which due to materality is acceptable. Lasell actors work a 5 day week (no weekends) and are paid every Friday for that weeks work. The weekly payroll amounts to $100 per week. December 31 was a Wednesday. Lasell is highly profitable and expects to owe taxes at a rate of 30% of their net income. d e f g On December 15 the board of directors declare a dividend of $1,500 payable on January 15, 2010 Required: Post adjustments a-fto the adjustment column using the appropriate number reference. Complete the adjusted trial balance columns Complete the balance sheet and income statement columns Be sure every column total amount is completed. Prepare a balance sheet, income statement and statement of stockholders equity Lasell Entrertainment Trial Balance 31-Dec-09 Cash Unadjusted TB Dr Cr Adjustments Ref Adjusted TB Dr Cr Income Statement Dr Cr Balance Sheet Dr Cr Ref Dr Cr Accounts Receivable $ 20,000 $ 5,000 $ 10,000 Note Receivable Prepaid Rent $ 1,200 Supplies $ 800 S 1,000 $ 4,000 Accounts Payable Income Taxes Payable Dividend payable Wages Payable Unearned Revenue Dividends Retained Eanrings Capital Stock Play Revenue Wage Expense Bad Debt Expense Supply Expense Rent Expense Income Tax Expense Total $ 14,020 $ 5,000 $ 20,000 $ 6,000 20 $ S 500 S 500 $ 44,020 $ 44,020