part a.

Doe Smith opened for business on May 1, and its trial balance balance before adjustment as of December 31 is shown below. Doe Smith Corporation Trial Balance December 31, 2020 , Debit Credit Cash 21,560 Supplies 4,300 Prepaid insurance 9,000 Land 30,000 Buildings 130,000 Equipment 30,000 Accounts payable 7,500 Unearned rent revenue 9,360 Note payable 44,000 Mortgage payable 50,000 Owner's capital 103,000 Owner's drawing 6,000 Rent revenue 81,040 Repairs expense 8,600 Salaries & wages expense 48,900 Utilities expense 6,540 294,900 294,900 Jalur Additional information: 1. Insurance expires at the rate of $350 per month 2. Supplies worth $2,500 were used. 3. Annual depreciation on building and equipment are $9,576 and $4,788 respectively. Unearned rent revenue of $529 was earned monthly 5. Salary of 6 employees at $750 per employee has not been paid. Rental income of $900/monthly for 2.5 months have not been recorded. 7. Mortgage interest rate of 6% per year. Mortgage was signed on June 1. Instructions: a. Journalize the adjusting entries on December 31. b. Complete the worksheet and prepare the adjusted trial balance on December 31. c. Using the information from the worksheet, determine i. Net income/(loss) ii. Ending owner's capital iii. Total assets iv. Total liabilities

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