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Louie Long started a business called Louies Lawn Service. The trial balance as of March 31, after the first month of operation, is as follows:

Louie Long started a business called Louies Lawn Service. The trial balance as of March 31, after the first month of operation, is as follows:

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed \begin{tabular}{l|r|r|} & TRIAL BALANCE & TRIAL BALANCE \\ \hline ACCOUNT TITLE & ADJ \\ \hline Cash & 1,375.00 & \\ \hline Accounts Receivable & 880.00 & \\ \hline Supplies & 490.00 & \\ \hline Prepaid Insurance & 800.00 & \\ \hline Lawn Equipment & 5,700.00 & \\ \hline Accumulated Depreciation-Lawn Equipment & & \\ \hline Accounts Payable & & \\ \hline Wages Payable & & 780.00 \\ \hline Louie Long, Capital & 1,250.00 & \\ \hline Louie Long, Drawing & 1,145.00 & \\ \hline Lawn Service Fees & 540.00 & \\ \hline Wages Expense & 725.00 & \\ \hline Advertising Expense & & \\ \hline Rent Expense & & \\ \hline \end{tabular} Louie's Lawn Service Worksheet Required: 1. Analyze the following adjustments and enter them on a work sheet. (a) Ending supplies inventory as of March 31, \$165. (b) Insurance expired (used), $100. (c) Depreciation of lawn equipment, \$200. (d) Wages earned but not paid as of March 31, \$180. 2. Complete the work sheet. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline ADJUSTMENTS & ADJUSTMENTS & \begin{tabular}{c} ADJUSTED TRIAL \\ BALANCE \end{tabular} & \begin{tabular}{c} ADJUSTED TRIAL \\ BALANCE \end{tabular} & \begin{tabular}{c} INCOME \\ STATEMENT \end{tabular} & \begin{tabular}{c} INCOME \\ STATEMENT \end{tabular} & BALANCE SHEET & BALANCE SHEET \\ \hline & CREDIT & DEBIT & CREDIT & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{tabular}

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