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P4-2C. Chen's Repair Service prepares adjustments monthly and showed the following Unadjusted Trial Balance as of September 30, 2022: CHENS REPAIR SERVICE TRAAZ BALANCE SEPTEMB523),
P4-2C. Chen's Repair Service prepares adjustments monthly and showed the following Unadjusted Trial Balance as of September 30, 2022: CHENS REPAIR SERVICE TRAAZ BALANCE SEPTEMB523), 022 Cash Accounts Receivable Repair Supplies Prepaid Insurance Office Furniture Accounts Payable Loan Payable C. Leung, Capital C. Leung, Withdrawals Repair Revenues Salaries Expense Wages Expense Du Cr. 18000.00 120 00 00 520000 93 50 00 3 500 000 8 000 00 2 3 750 00 403 00 00 5000000 8000000 5 000 000 17 50 000 15 20 5000 15 20 50 00 il Additional information for the month ended September 30, 2022. a. Interest of $150 had accrued on the loan payable for the month of September . b. The office furniture was purchased on September 1, 2019, and has an esti- mated 10-year life. The furniture will have a salvage value of $5,000 at the end of its life. c. A count of repair supplies revealed a balance on hand of $4,500. las d. A review of the Prepaid Insurance account showed that $5,000 was used up during September. e. Accrued Wages of $10,000 has not been recorded at month-end. Required: 1. Prepare journal entries for the month ended September 30, 2022 for (a) through (e) above. 2. Complete the adjusted trial balance by including the adjusting entries pre- pared in requirement 1. 3. Prepare an income statement, a statement of owner's equity and a balance sheet based on the adjusted trial balance completed in requirement 2. Assume the owner, Chen Leung, made an investment during September of $5,000. Dec une the Comprehe
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