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Data Table - X Fuzzy Investment Advisers Unadjusted Trial Balance December 31, 2016 ur Balance Account Title Debit Credit $ 29,000 i More Info x 43.000 6,000 25,000 $ 15,000 19,000 a. Unearned Revenue earned during the year, $900. b. Office Supplies on hand, $1,000. c. Depreciation for the year, $7,500. d. Accrued Salaries Expense, $5,000. Accrued Service Revenue, $9,000 e. 3,000 17,000 Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense Depreciation Expense-Equipment 17,000 Print Done 13,000 31,000 99,000 2,000 33,000 5,000 9,000 Tod $ 183,000 $ 183,000 Print Done The unadjusted trial balance of Fuzzy Investment Advisers at December 31, 2016, follows: Click the icon to view the unadjusted trial balance.) Adjustment data at December 31, 2016: (Click the icon to view the adjustments.) Requirements 1. Prepare a worksheet for Fuzzy Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format. 3. Prepare closing entries Requirement 1. Prepare a worksheet for Fuzzy Investment Advisers at December 31, 2016. The unadjusted balances have been entered for you in the trial balance columns of a worksheet. Complete the worksheet one section at a time beginning with the Adjustments section. Enter the adjustments along with the adjustment letter references-(a), (b), (c), etc.into the columns as appropriate. In the following step, complete the Adjusted Trial Balance. Lastly, complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step Fuzzy Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Statement Balance Sheet Account Title Debit Credit Debit Credit Unadjusted Trial Balance Debit Credit 29,000 43,000 6,000 25,000 15,000 19,000 a. b. C. d. e. Cash Accounts Rec. Office Supp Equipment Accum. Depr. Accounts Pay. Salaries Pay. Unearn. Rev. Note Pay. (I/t) Common Stk Ret. Earnings Dividends Service Rev. 3,000 17,000 17,000 13,000 31,000 99,000 Ins. Exp 2,000 33,000 Salaries Exp. Supplies Exp. Interest Exp. Rent Exp. Depr. Exp 5,000 9,000 Total 183,000 183,000 Net income or loss Requirement 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format. Begin by preparing the income statement. Review the Income Statement columns of the worksheet completed in Requirement 1. Fuzzy Investment Advisers Income Statement Year Ended December 31, 2016 Net Income (Loss) Prepare the statement of retained earnings. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (Use a minus sign or parentheses to show a decrease in retained earnings.) Review the Balance Sheet columns of the worksheet completed in Requirement 1. Fuzzy Investment Advisers Statement of Retained Earnings Year Ended December 31, 2016 Retained Earnings, January 1, 2016 Retained Earnings, December 31, 2016 Prepare the classified balance sheet in account format on December 31, 2016. (If a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Review the Balance Sheet columns of the worksheet completed in Requirement 1 Review the Statement of Retained Earnings completed above. Fuzzy Investment Advisers Balance Sheet December 31, 2016 Assets Liabilities Stockholders' Equity Less: Requirement 3. Prepare closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos (1) Close expenses for the period. Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (2) Choose from any list or enter any number in the input fields and then continue to the next question. Close Income Summary Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (3) Close Dividends. Review the Balance Sheet columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (4) Choose from any list or enter any number in the input fields and then continue to the next