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pls be fast with it Resolve Auto Service Trial Balance December 31, 2019 Debit Credit 2160 1250 180 240 3400 Cash Accounts Receivable Office Supplies
pls be fast with it
Resolve Auto Service Trial Balance December 31, 2019 Debit Credit 2160 1250 180 240 3400 Cash Accounts Receivable Office Supplies Prepaid Insurance E Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Unearned Revenue Timothy, Capital Timothy, Withdrawals Service Revenue Wages Expense Rent Expense 600 700 400 4870 400 2900 1500 400 9530 9530 The following information is also available for the company on December 31, 2019: 1. Insurance that expired during December amounted to $40. 2. Office supplies on hand on December 31 totaled $75. 3. Depreciation for December totaled $100. 4. Accrued wages on December 31 totaled $120. 5. Revenues earned for services performed in December but not billed by the end of the month totaled $300. 6. Revenues received in advance of services still to be performed totaled $300, at the end of the year. Required: Journalize the required adjusting entries. Post the entries to the T accounts. Open new T accounts as needed. Prepare an adjusted trial balance. Journalize the closing entries. Prepare an income statement, a statement of owner's equity, and a classified balance sheet for the month ended December 31, 2019. Calculate the Working Capital and Current Raatio Resolve Auto Service Trial Balance December 31, 2019 Debit Credit 2160 1250 180 240 3400 Cash Accounts Receivable Office Supplies Prepaid Insurance E Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Unearned Revenue Timothy, Capital Timothy, Withdrawals Service Revenue Wages Expense Rent Expense 600 700 400 4870 400 2900 1500 400 9530 9530 The following information is also available for the company on December 31, 2019: 1. Insurance that expired during December amounted to $40. 2. Office supplies on hand on December 31 totaled $75. 3. Depreciation for December totaled $100. 4. Accrued wages on December 31 totaled $120. 5. Revenues earned for services performed in December but not billed by the end of the month totaled $300. 6. Revenues received in advance of services still to be performed totaled $300, at the end of the year. Required: Journalize the required adjusting entries. Post the entries to the T accounts. Open new T accounts as needed. Prepare an adjusted trial balance. Journalize the closing entries. Prepare an income statement, a statement of owner's equity, and a classified balance sheet for the month ended December 31, 2019. Calculate the Working Capital and Current Raatio Step by Step Solution
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