Joe Clark has his own Desktop Publishing business. In may you as the bookkeeper prepared a Trial Balance and then reviewed the accounts.

The following items became apparent upon review of the accounts in the trial balance:

The office supplies on had were counted and a value of $100 was attributed to the remaining items

The prepaid rent was $1,200 for 3 months rent paid on May 1 2020.

The equipment was purchased on January 1 2020 and has a 5 year life.

Salaries earned but not yet paid amount to $350

Services to clients that have been completed but not yet billed total $2,000

Received a telephone bill for $200.

The unearned revenue was for an order paid by a customer for a parts. $1000 of the order has been shipped to the customer

Prepare the adjusting entries for the Items 1-7 above

Adjusting Entries

Date							Debit	Credit
31-May
31-May
31-May
31-May
31-May
31-May
31-May

Account Title

Trial Balance

Adjustments

Adjusted Trial Balance

Income Summary

Balance Sheet

DR

CR

DR

CR

DR

CR

DR

CR

DR

CR

Cash

6155

Account Receivable

5000

Inventory

750

Office Supplies

600

Prepaid Rent

1200

Equipment

6000

Accumulated Amortization

Salary Payable

Account Payable

3350

Unearned Revenue

1500

Joe Clark, Capital

14950

Joe Clark, Withdrawals

625

Sales

8000

Sales Returns

200

Cost of Goods Sold

5500

Salaries Expense

1300

Advertising Expensee

250

Telephone Expense

220

27800

27800

Amortization expense

Rent Expense

Supplies Expense

Total/Subtotal

Net Income/Loss

Total/Subtotal

Post the adjusting entries to the Worksheet below

Complete the Adjusted Trial Balance on the Worksheet

Complete the Income Summary on the Worksheet

Complete the Balance Sheet on the Worksheet

Prepare in Good Form, a Multi Step Income Statement, A Statement of Equity and a Classified Balance Sheet

Statement of Equity

CLASSIFIED Balance Sheet

Prepare the Closing Entries