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Noor started her business on June 1, 2020. Noor Trial Balance August 31, 2020 SL Particulars Debit Credit 1 Cash 55,600 2 Supplies 16,300 3
Noor started her business on June 1, 2020. Noor Trial Balance August 31, 2020 SL Particulars Debit Credit 1 Cash 55,600 2 Supplies 16,300 3 Prepaid Insurance 16,000 4 Land 22,000 5 Cottages 5,000 6 Furniture 26,000 7 Account Payable 16,500 10,400 10,000 70,000 5,000 12 8 Unearned Rent 9 Mortgage Payable 10 Capital 11 Drawing Rent Revenue 13 Repair Expense 14 Salaries Expense 15 Utility Expense TOTAL 57,000 3,600 5,000 9,400 163.900 163.900 Other information: (1) End of August 31 the balance of prepaid insurance is Tk. 1600 (2) Supplies used during the period Tk. 800 (3) Furniture has 6 years life with no salvage value and cost is Tk 26000 [formula: Depreciation = (cost - salvage value) / lifetime] (4) Balance of unearned revenue is 700 at the end of August 31. (5) Salary expense is accrued Tk 9000 (not yet paid) Instructions: 1. Prepare Adjusting Journal Entries 2. Prepare Income Statement 3. Prepare Owner's Equity Statement 4. Prepare Balance Sheet
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