Practice Set 1: Service Business Accounting Cycle Sevd 3 No. 101 111 Account Cash Accounts receivable Debit Credit $12,000 18,000 121 Supplies 7,340 03026 125 Prepaid rent 28,000 151 Office equipment 45,800 152 Accumulated depreciation $9,160 202 Accounts payable $15,000 301 Gloria Johnson, Capital $33,960 302 Gloria Johnson, Drawing 22,000 401 505 515 $17 520 Fees income Salaries expense Telephone expense Travel expense $200,000 99,000 2,700 20,780 Utilities expense Total 2,500 $258,120 $258,120 Consumer Research Associates, owned by Gloris Johnson, is retained by large companies to test consumer reaction to new products. On January 31, 2019, the firm's worksheet showed the following adjustments data: (a) suppiles used, $4,680; (b) expired rent, $26,000; and (c) depreciation on office equipment, $9,160. Show less Mc Requirement General Journal General Ledger Trial balance Income Statement Statement of Balance Sheet Post Closing Equity (54% of available points) General Journal tab -Prepare the required journal entries. (No input required) General Ledger tab-Each account is presented with its balance (either adjusted or post-closing). (No input required) Trial Balance tab-Verify the account balances reported (either adjusted or post-closing). (11% of available points) Income Statement tab select the account titles to be included on the income statement. (No Input required) Statement of Owner's Equity tab (12% of available points) Balance Sheet tab-select the account titles to be included on the balance sheet. (23% of available points) Post-closing tab-For each account, Indicate whether it is closed (to Income Summary or < Prev 3 of 3 Next > Help Save & Exit Check my