Ledger Accounts, Adjusting Entries, Financial Statements, and closing Entries; Uptional End-of-Period Spreadsheet The unadjusted trial balance of Recessive Interiors at January 31, 2012, the end of the year, follows: Recessive Interiors Unadjusted Trial Balance January 31, 20Y2 Account Debit Credit Balances No. Balances Cash 13,100 Supplies Prepaid Insurance 8,000 7,500 113,000 Equipment Accumulated Depreciation- Equipment 12,000 90,000 27,100 Trucks Accumulated Depreciation-Trucks Accounts Payable Common Stock 4,500 30,000 96,400 Retained Earnings Dividends 3,000 Service Revenue 155,000 Wages Expense 72,000 Rent Expense 7,600 5,350 Truck Expense Miscellaneous Expense 5,450 325,000 325,000 The following additional accounts from Recessive Interiors' chart of accounts should be used: Wages Payable, 22; Depreciation Expense-Equipment, 54; Supplies Expense, 55; Depreciation Expense-Trucks, 56; Insurance Expense, 57 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at January 31 are $2,850. b. Insurance premiums expired during the year are $3,150. c. Depreciation of equipment during the year is $5,250. d. Depreciation of trucks during the year is $4,000. e. Wages accrued but not paid at January 31 are $900. 4. Prepare an adjusted trial balance. List the accounts in order by type: Assets, Liabilities, Capital, Dividends, Revenue and Expenses. If an amount box does not require an entry, leave it blank. Recessive Interiors Adjusted Trial Balance January 31, 2012 Debit Balances Credit Balances Cash 13,100 Supplies Prepaid Insurance Equipment 8,000 x 7,500 x 113,000 Accumulated Depreciation Equipment 12,000 Trucks 90,000 Accumulated Depreciation-Trucks Accounts Payable 27,100 4,500 72,900 Wages Payable Common Stock 30,000 Retained Earnings 96,400 Accounts Payable X 4,500 155,000 Service Revenue Wages Expense 72,000 Rent Expense 7,600 5,350 x Truck Expense 5,250 Depreciation Expense-Equipment Supplies Expense Depreciation Expense-Trucks 5,150 4,000 3,150 Insurance Expense Miscellaneous Expense 5,450 5. Prepare an income statement. Recessive Interiors Income Statement For the Year Ended January 31, 20Y2 Service revenue $ 155,000 Expenses: Wages expense $ 72,900 Rent expense Truck expense 7,600 5,350 17,250 5,150 Depreciation expense-equipment x Supplies expense Depreciation expense-trucks 9,250 x Insurance expense 3,150 Miscellaneous expense 5,450 Total expenses 126,100 Net income $28,900 x