P4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO4-1, 4-2, 4-4 The following information applies to the questions displayed below.) Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Debt Credit 10.900 500 8700 Account Titles Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Note payable (3 years, 10% interest due each December 31) Common stock (5,900 shares outstanding) Additional paid-in capital Retained earnings Service revenue Remaining expenses (not detailed, excludes income tad Income tax expense Totals 14.000 NO 1200 $ 119.730 $ 119739 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $150 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $730. c. Depreciation expense for the current year, $3,400. d. Wages earned by employees not yet paid on December 3, $700. e. Income tax expense. $5,780. References Section Break 4. Recording Adjusting and Balance Sheet and income Statement including rings per Share LOL 42.4.4 P4-7 Part 1 Required: 1. Record the adjusting entries. (If no entry is required for a transaction event select "No journal entry required in the first account field.) Check my work 8. P4-7 Part 2 2.a. Prepare an income statement that include the fects of the preceding five transactions. (Round "Earnings per share to 2 decimal places.) 2-b. Prepare a classified balance sheet that include the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.) References eBook & Resources Financial Statement 3 Hard Leaming with a 04-02 Petanicometre totholdest P4 Part 2 Looming t h e long process Leaming Objective: DL-01 Explain the purpose of uments and analyze the wust the ond of the period to update balance sheet and incomo Check my work 9. 12.00 points P4-7 Part 3 3. Record the closing entry. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Ne Transaction General Journal de Credit