Paila hudge owns Judge Creatve Desagns. The trial balance of the frm for lanuary 31,2019, the first month of operatiors, ts shown below End-of the-month adjustments must account for the tollowing tems a. Supplies were purchased on January 1.2019, inventory of supplies on January 31, 2019, Is $600 b. The prepakd advertsing contract was signed on January 1, 2019, and covers a four-month peniod Rent of S1,100 expired during the month. d. Depreciation ts computed using the straight-Iine method. The equipment has an estimated useful lie of 10 years with no salvage value Required 1. Complete the worksheet for the month 2. Prepare statement of owner's equity and balance sheet No additional investments were made by the owner during the month 3. Journalize and post the adjusting entries Analyze if the adjusting entries had not been made for the month, would net income be overstated or understated? Complete this question by entering your answers in the tabs below Prev2Sore answer > Help Seve & Exit Submit Req 2 Bal Roq ] Gen ournal Req 2 Inc 2Strnt of Req 1 Complete the worksheet for the month Thal Balance Accounts Recervabke Piepad AMvertising Piepaid Rent Equpment 4.400 3,200 45,600 qugment Accounts Payable Paula Judge, Captal Pauta Judge, Draing 14.550 59.000 C Prev or2l Score answer Help Save& Exlt Subm 11,600 Accounts Receivable Supples Piepakd Advertising Prepaid Rent Equipment 13,200 45,600 14.550 59,000 Accouris Payable Paula Jusge, Capta Paula Judge, Dreing Fees Income Advertsing Expense 6,000 57.100 Rent Expense Salanes Expense Supples Expense Utines Expense Sub Totats 8,700 130.650$ 130 650 otals Prev 1 of 2 Score answer > 0 a - Req 2 Inc Req 2 Strnt of Req 2 Bal R Req 1 ournal Req 3 Ledgers Analyze Stmt OE Sheet Prepare an income statement. JUDGE CREATIVE DESIGNS Income Statement Month Ended January 31, 2019 Revenue Expenses Total expenses Prev 1 of 2 Score answer Rog 1esg Req 2 Inc Req 2Strnt mt of Req 2 Bal Req 3 Gen Rea 3Ledgers Analyze Req 1 Stmt Sheet Journal Prepare a statement of owner's equity Statenient of owners Equity Month Ended Jan K Req 2 Inc Stmt Req 2 Bal Sheet > Prev 1 o 2 Score answer> 6 Req 2 Bal Sheet Req 3 Gen Journal GnReq 3 Ledgers Analyze Req 2 IncReq 2 Strnt of Req 1 OE Stmt Prepare a balance sheet Balance Sheet ary 31, 2019 Assets Total assets Liabilities and owner's equity Prev 1 of 2 Score answer> Prepare the adjusting entry for supplies. Note: Enter debits before credits. Debit Credn General Joumal Jan 31, 2019 Record Clear entry View general journal Prev 1 of 2 Score answer> ch 9 Help Save & the adjusting entries Jan 01, 2019 Jan 31, 2019 Jan 1, 2019 Jan 31, 2019 Account No. 142 t No.131 Prepaid Rent Depreclation-Equlpment Debit credit Debit Credit Jan 31, 2019 Jan 1, 201 Jan 31, 2019 Account No. 519 Balance Supplies Expense Account No.517 Advertising Expense Debit Debit Credit Credit Bala Jan 31, 2019 Jan 31, 2019 Rent Expense Account No. 520 Account No. 523 Expe pment Debit credit nce Jan 31, 2019 Jan 31, 2019 Prev 1 Score answer> 1 of 2 1 Ifl the adusting entries had not been made for the month, would net income be overstated or understated? Complete this question by entering your answers in the tabs below Req 1 Req 2 Inc Req 2 Strnt of Req 2 Bal Req 3 Gen Analyze ournal Req 3 Ledg Stmt OE Sheet If the adjusting entries had not been made for the month, would net income be overstated or understated? Req 3 Ledgers Analyze >
