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Prepare an end of the period worksheet: 1) Prepare an unadjusted trial balance on the worksheet 2) Prepare the adjusting entries on the worksheet 3)

Prepare an end of the period worksheet: 1) Prepare an unadjusted trial balance on the worksheet

2) Prepare the adjusting entries on the worksheet

3) Prepare the adjusted trial balance

4) Prepare the income statement and the balance sheet

5) Prepare the formal financial statements from the worksheet in order - income statement, statement of owner's equity, balance sheet.image text in transcribedimage text in transcribedimage text in transcribed

January, 20XX Transactions: Jan.1 The following assets were received from Oneida Reza: Cash $65,000; Accounts Receivables 14,700; Equipment, $24,000; Supplies $5,000. There were no liabilities. 1Paid three months' rent on a lease rental contract, $9,000. 2 Paid 12-month premiums on property and casualty insurance policies. $12,000. 4Received cash from a corporate client as an advance payment (unearned revenue) for fitness design, S9,400 5 Purchased fitness equipment on account from Doubletree Fitness Equipment, $8,000. 6 Received check from design clients on account, $11,700. 10 Paid cash for a newspaper advertisement, S350 11 Paid Doubletree Fitness Equipment for part of the debt incurred on Jan. 5, S6.400 12 Recorded design services provided on account for the period Jan. 1 -12, $21,900. 14 Paid fitness assistants for two weeks' salary. $1.650

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