Motor Inc Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.

Motor Inc Company

Worksheet

For the Month Ended September 30, 2020

Trial Balance Trial Balance Adjusted Trial Balance Adjusted Trial Balance

	Debit	Credit	Debit	Credit
cash	40,240		40,240
supplies	21,440		4,583
prepaid insurance	31,900		3,703
land	88,680		88,680
equipment	128,680		128,680
accumulated depreciation - equipment		39,040		44,850
accounts payable		17,440		17,440
unearned service revenue		3,490		705
mortgage payable		55,680		55,680
common stock		118,380		118,380
retained earnings, Sept. 1, 2020		2,000		2,000
dividends	14,000		14,000
service revenue		285,180		287,965
salaries and wages expense	108,210		108,210
maintenance and repairs expense	33,340		33,340
advertising expense	9,400		9,400
utilities expense	19,740		19,740
property tax expense	18,790		23,030
interest expense	6,790		12,630
Totals	521,210	521,210
Insurance expense			28,197
supplies expense			16,857
interest payable				5,840
depreciation expense			5,810
property tax payable				4,240
Totals			537,100	537,100

Prepare a complete worksheet:

Motor Inc Company

Worksheet

For the Month Ended September 30, 2020

Trial Balance Adjustments Adj. Trial bal Income Statem Balance Sheet

Account Titles	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
cash	40,240				40,240
supplies	21,440				4,583
prepaid insurance	31,900				3,703
land	88,680				88,680
equipment	128,680				128,680
accumulated depreciation equioment		39,040				44,850
accounts payabel		17,440				17,440
unearned service revenue		3,490				705
mortgage payable		55,680				55,680
common stock		118,380				118,380
dividends	14,000				14,000
retained earnings		2,000				2,000
service revenue		285,180				287,965
salaries and wages expense	108,210				108,210
maintenance and repairs expense	33,340				33,340
advertising expense	9,400				9,400
utilities expense	19,740				19,740
property tax expense	18,790				23,030
interest expense	6,790				12,630
Totals	521,210	521,210
Insurance expense					28,197
supplies expense					16,857
interest payable						5,840
depreciation expense					5,810
property tax payable						4,240
totals					537,100	537,100
net income

Totals

Prepare a classified balance sheet (Note: $10,000 of the mortgage payable is due for payment in the next fiscal year) (List current assets in order of liquidity. List property, plant, and equipment, in order of land, then equipment).

Motor Inc Company

Balance Sheet

Date

Assets

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Journalize the adjusting entries using the worksheet as a basis. (if no entry is required select 'no entry' for the account and enter 0 for the amounts). This journal entry is to record the following: expired insurance, supplies used, deprecaiton on equipment, admission revenue earned, accured property taxes, accrued interest on the note, to close revenue accounts, expense accounts, to transfer net income/loss, and to record payment of dividend. All for the date Sep. 30

Finally, prepare a post-closing trial balance:

I have tried my best to clearly show the question and the items that need to be filled in. I would appreciate that it is easy to understand and follow through. Please explain how you got the numbers so I can see how it is done. There is a worksheet that needs to be done, a balance sheet, two journals (journal entries), and finally one post-closing trial balance. The second worksheet is partially filled in but is not complete.

I will rate the answer thumbs up if it is organized well, explained, and nothing is missing. This helps me understand and not miss anything. Thank you